684
Repealed
Enacted in
lieu of.
Insurance
Department
established.
Salary of
Commiss'ner
To give hone
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LAWS OF MARYLAND.
CHAPTER 388.
AN ACT to repeal sections twenty-seven, twenty-
eight, twenty-nine, thirty, thirty-one, thirty-two,
thirty-three, thirty-four, thirty-five and thirty-six,
of article fifty-six of the Code of Public General
Laws, entitled "Licenses," sub-title "Foreign
Corporations and Companies," and to re-enact the
same with amendments.
SECTION 1. lie if enacted by the General Assembly of
Maryland, That sections twenty-seven, twenty-eight,
twenty-nine, thirty, thirty-one, thirty-two, thirty-
three, thirty-four, thirty-five and thirty-six, of article
fifty-six of the Code of Public General Laws, entitled
" Licenses," sub-title '' Foreign Corporations and
Companies," be and the same are hereby repealed,
and the following sections enacted in lieu thereof:
27. There is Thereby established a distinct bureau
in the office of the Comptroller of the Treasury, to
be known as the Insurance Department, which shall
he charged with the execution of the laws of this
State in relation to insurance; and the Comptroller
of the Treasury is hereby authorized and directed
to assign a clerk in charge of said department, who
shall he known as the Insurance Commissioner for
the State of Maryland, and who shall receive an
annual salary of twenty-five hundred dollars, payable
out of the fees of Ills office, and shall hold his office
during the term of the Comptroller making: the ap-
pointment, or until his successor is appointed and
qualified, unless sooner removed by) by the Comptroller;
and the said Insurance Commissioner shall give
bond to the State of Maryland in the sum of twenty-
five thousand dollars for the faithful discharge of his
duties, and no person who is a director, officer, or
agent of, or directly or indirectly interested in any
insurance company, except as insured, shall be ap-
pointed as such commissioner by the Comptroller,
and the rulings and decisions made by said Commis-
sioner shall always be subject to revision by the
Comptroller.
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