690
To forward
copies of
report.
To adopt
seal of office.
Power to
summon and
examine
persons.
To revoke or
modify any
certificate.
|
LAWS OF MARYLAND.
acts, the fees received, and expenses of his depart-
ment for the year then to end, and pay into the
Treasury all excess of receipts over disbursements,
the condition of companies doing business in this
State, and such other information as will exhibit the
affairs of his department; a copy of which report he
shall forward to the Insurance Commissioner, or
other similar officer of every other State, and to each
company doing business in this State, and on request
to communicate to the Insurance Commissioner of
any other State any facts which by law it is his duty
to ascertain, respecting companies of this State doing
business within such oilier State.
Tenth. To adopt and renew from time to time
when necessary, with the approval of the Governor,
a seal of office, an impression and. description where-
of, with the Governor's certificate of approval, shall
be filed with the Secretary of State, and it shall be
his duty to see that no company is permitted to insure
lives in this State, whose charter authorizes it to do
fire, marine, or inland insurance business.
.Eleventh. The Insurance Commissioner, for the
purpose of examinations authorized bylaw, has power
to summon and examine any person being within
this State, under oath, which he may administer, rela-
tive to the affairs and condition of any company, or
lor probable cause to visit at its principal office when-
ever it may be any insurance company not of this
State, and doing business in this State, for the pur-
pose of investigating its affairs and condition, and to
revoke, with the approval of the Comptroller, its cer- tificate in this State; if it does not permit an exami-
nation, to revoke or modify any certificate of au-
thority, when any conditions prescribed by law for
granting it no longer exist, and the Insurance Com-
missioner, with the approval of the Comptroller, has
also power to institute suits and prosecutions, either
by the Attorney General, or such other attorney as
the Comptroller may designate, for any violation of
this Act, and the Comptroller is a necessary party
to any proceedings instituted for the purpose of clos-
ing up the affairs of any company, when the same
shall not be in the name of the State of Maryland.
|
