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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2991   View pdf image (33K)
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452

LAWS OF MARYLAND.

 

CHAPTER 257.

AN ACT to repeal the Act of eighteen hundred
and sixty-eight, Chapter two hundred and
ninety-four, entitled " An Act to add a new Ar-
ticle to the Code of Public General Laws, to be
entitled 'Domestic Insurance Company,' "prc-
viding for annual reports of the condition of the
said several Insurance Companies incorporated
under the laws of this State, and doing business
within the limits thereof, and to re-enact the
same with amendments.

Repealed and
re-enacted.

Sec. 1. Be it enacted by the General Assembly of
Maryland, That the Act of eighteen hundred and
sixty-eight, Chapter two hundred and ninety-four,
entitled " An Act to add a new Article to the Code
of Public General Laws, entitled ' Domestic Insur-
ance Company,' " be and the same is hereby re-
pealed and re-enacted, so as to read as follows:

Insurance
companies to
report annu-
ally.

Section 1. It shall hereafter be the duty of the
President or Vice President and Secretary, or other
proper officer of each company or association organ-
ized under the laws of this State, to transact the
business of insurance, annually, on the first day of
February, or within one month thereafter, to pre-
pare, under their own oath, and deposit in the
office of the Comptroller of the Treasury, a state-
ment of the condition of such company or associa-
tion on the thirty-first day of December then next
preceding, exhibiting the following facts and items,
in the following form, namely:

What to re-
port as capital
stock.

First — The capital stock of the company; sec-
ond — The property and assets held by the company
or association, specifying, first, the value, or as
nearly as may be, of the real estate held by such
company or association ; second, the amount of
cash on hand and deposited in banks to the credit
of the company or association, specifying in what
banks the same are deposited; third, the amount
of cash in the hands of agents and in course of
transmission; fourth, the amount of loans secured
by bonds and mortgages, constituting the first
liens on real estate, on which there shall be less

 

 

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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2991   View pdf image (33K)
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