588

LAWS OF MARYLAND.

which statement shall be rendered on the first day of

January following, or by Fire and Marine Insurance

Companies within thirty days, and by Life Insurance

Companies within sixty days thereafter, except that

foreign companies shall transmit their statement of

business, other than that done in the United States,

prior to the following first day of July, which state-

ments must be in form, and state the particulars re-

quired by the blanks prescribed by the Comptroller ;

May require
statements at

and the Insurance Commissioner may require at any

any time

time, statements from any company doing business

within this State, or from any of its officers or agents,

on such points as he deems necessary and proper, to

elicit a full exhibit of its business and standing; all

of which statements, herein required, must be ver-

ified by the signatures and oath of the President or

Vice President, with thoee of the Secretary or Ac-

tuary ; no company having neglected to file a state-

ment required of it, within the time and manner

prescribed, shall do any new business after notifica-

tion by the Insurance Commissioner, while such

neglect continues ; and any company or association

Neglecting to

neglecting to make and transmit any statement re-

transmit

quired, shall forfeit one hundred dollars for each

days' neglect, and any person, or the officers of any

company, knowingly making a false statement in any

report to the Insurance Commissioner, shall be liable

for the fines and penalties imposed by this article ;

the Insurance Commissioner shall allow, in addition

to the assets now provided for the reserve of in-

surance companies, all interest due and such pro-

portion of deferred and uncollected premiums, shown

due by the above required statements, as in his judg-

ment is a legal and proper credit.

SEC. 2. And be it enacted, That this act shall take

In force.

effect from the date of its passage.

Approved April 11th, 1874.