692
Mutual
company.
Proviso.
Not to act as
agent or
solicitor
<
Proviso.
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LAWS OF MARYLAND.
tual company, that it has received, and is in actual
possession of the premises, or bona fide engagements
of insurance or other securities, as the case may be,
to the full extent, and of the value required by
law; and the name and residence of the maker of
each premium note forming part of the capital or
assets, and the amount of such note, shall be re-
ported to the Insurance Commissioner; and the cor-
porators or officers of such company shall be re-
quired to certify, under oath, that the capital exhib-
ited to the Insurance Commissioner is bona fide
property of the company, which certificate shall be
filed in the office of the Insurance Commissioner;
prodded, however, that the provisions of this Act
shall not apply to Mutual Fire Insurance Companies
heretofore chartered by the laws of this State, and
now doing business; and any officer, or the com-
missioner, swearing falsely in regard to the provi-
sions of this section, shall be deemed guilty of per-
jury, and shall be subject to the penalty or penalties
prescribed for such offence by the laws of this State.
31. No person shall act as agent or solicitor in
this State for any company not in tills State, in any
manner whatever relating to risks, until the provi-
sions of this Act have been complied with on the
part of the company or association, and there has
been granted to said company or association, by the
Insurance Commissioner, a certificate of authority or
license, for which said company or association, or
their agent, shall pay into the State Treasury the sum
of three hundred dollars; and if a tax of one and
one-half per cent. on the gross premiums charged or
collected for said company or association during the
last license year, which report of premiums the
agent is required to make, under oath, to the Insu-
rance Commissioner, shall exceed the price of said
license, there shall be paid into the treasury, before
a license shall be renewed for the ensuing year, the
whole excess of the one and one-half per cent. over
and above the cost of license; provided, that all li-
censes shall expire on the first day of May in each
year, and any company applying for admission into
the State shall pay in like proportion for the frac-
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