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Proceedings and Acts of the General Assembly, 1872
Volume 190, Page 1971   View pdf image (33K)
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1872.] OF THE SENATE. 365
during any non-compliance with the provisions of this Act,
he shall make complaint thereof to the Judge of the Superior
Court of Baltimore City, or any Judge of the Circuit Court
of the county where the company or agency may be located,
as the case may be, which Judge shall, upon the requisition
of the Commissioner, appoint a commission, consisting of the
Insurance Commissioner and two disinterested and competent
persons, whose duty it shall be to examine every detail of the
business and condition of said company, and report in -writ-
ing the result of such examination to the Judge appointing
them, who shall, if in his judgment, the charge of fraud,
neglect or abuse, as charged by the Insurance Commissioner
is sustained by the said report, at once issue an injunction
.suspending the business of said company."
Page 8, line 159, strike out "his," and insert "the."
Page 8, strike out all after the word "State," in line 120,
to the word "8," in line 128.
Page 10, strike out in line 163, the words, "or any ex-
aminer."
Page 10, strike out after the word "powers," in line 209,
to the word "to," in line 213.
Section 30, line 10, strike out the words, "cause an ex-
amination to be made, and shall certify under oath," and
insert in lieu thereof, the following, "examine the officers of
said company under oath, which examination shall be certi-
fied to under oath of said commission."
Section 30, line —, strike out after the word "company,"
to the word "or," in line 15, and insert, "to an amount of
not less than one hundred thousand dollars has been paid in,
in money, and is held by the Board of Directors, subject to
their actual control, according to the provisions of the charter
of said company, or has been by them invested in securities
negotiable, and worth in the market not less than the sum.
of one hundred thousand dollars."
Section 30, line 26, insert after the word "business," "and
any officer or the commissioner swearing falsely in regard to
the provisions of this section, shall be deemed guilty of per-
jury, and shall be subject to the penalty or penalties pre-
scribed for such offense by the laws of this State."
Section 31, line 35, after the word "insured," insert, "Pro-
vided, that the filing of the papers with the Insurance Com-
mission, as provided by this Act, shall be in lieu of all
papers now required by law, to be filed with the Comptroller
and the Clerks of the Superior Court of Baltimore City."
Section 34, line 14, strike out "the capital stock and as-
sets," and insert, "an amount equal to the re-insurance
reserve."

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Proceedings and Acts of the General Assembly, 1872
Volume 190, Page 1971   View pdf image (33K)
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