ART. 23] SAFE DEPOSIT AND FIDELITY COMPANIES. 585

1904, art. 23, sec. 97. 1892, ch. 109, sec. 85 D. 1910, ch. 219 (p. 6).

109. If it shall appear to the said treasurer from any such examina-
tion, as hereinbefore provided for, that any of said corporations has
violated its charter, or the law pertaining to the same, or is conducting
business in an unsafe or unauthorized manner, he shall, by an order
under his hand and seal of office, addressed to such corporation, direct
the discontinuance of such illegal or unsafe practices and lequire said
corporation to act in conformity with the requirements of its charter
and of law, and insist upon safety and security in its transactions; and
whenever any such corporation shall refuse or neglect to make such
report as hereinbefore required, or to comply with any such order as
aforesaid; or whenever it shall appear to said treasurer that it is unsafe
or inexpedient for any such corporation to continue to transact busi-
ness, he shall communicate the facts to the attorney-general who shall
thereupon be authorided to institute such proceedings against any such
corporation as are now or may hereafter be provided by law.*

This section referred to in construing section 116—see notes thereto
Coulbourn v. Boulton, 100 Md. 354.

Ibid. sec. 98. 1892, ch. 109, sec. 85 D. 1896, ch. 160, sec. 85 E.

110. Every such corporation transacting as part of its business the
security or guarantee business shall, within six months from the 2d of
April, 1896, and from time to time thereafter, if need be, transfer and
assign to the said treasurer registered public stock of the United States
or of the State of Maryland, or of Baltimore city, or the bonds of any
county or municipal corporation of this State, which shall be approved
by said treasurer to the amount in value of one hundred thousand
dollars, and said amount shall be at all times maintained by said corpora-
tion; which stock must be registered in the name of said treasurer,
officially, as held in trust under and pursuant to this section, and the
same shall be held by said treasurer in trust as security for all the
holders of policies or guarantees of said corporation; provided, how-
ever, that no such corporation incorporated under any law of any other
State, district or territory, the United States or any foreign country,
shall be required to make the deposit above set forth with the treasurer
of this State if said corporation shall have made with the insurance com-
missioner, treasurer or other proper officer of any State, district or
territory in the United States, a deposit in the amounts as above set
forth, of any securities as shall have been approved by the proper officer
where made, for the benefit of all the holders of policies or guarantees
of said corporation, as above set forth, and a certificate thereof under
the hand and official seal of said proper officer shall have been filed with
said treasurer; and all other corporations mentioned in section 106, not
transacting as part of their business the security or guarantee business
shall, within six months from the 2d of April, 1896, and from time to

*This section, so far as it related to trust companies, was repealed by the act
of 1910, ch. 219 (p. 6). As to trust companies, see art. 11, sec. 42, et seq.