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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 618   View pdf image (33K)
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618 CORPORATIONS. [ART. 23

Ninth. Having charged the company the re-insurance reserve as
above determined, for fire, inland and marine; insurance, and adding
thereto all debts and claims against the company, he shall, in case he
finds the capital stock of the company impaired to the extent of twenty-
five per cent., give notice to the company to make good its whole capital
stock within sixty days; and if this is not done he shall require the
company to.cease to do new, business within this State; and shall there-
upon, in case the company is organized under the authority of this
State, immediately institute such legal proceedings as are necessary to
protect the rights of all persons in said company.

Tenth. The insurance commissioner shall perserve in permanent form
a full record of his proceedings, and a concise statement of the condi-
tion of each company visited or examined, and report annually to the
governor, on or before the first day of June, his official acts; and shall,
on the first day of December, annually, report to the comptroller the
fees received and expenses of his department for the year then to end,
and pay into the treasury all excess of receipts over disbursements; and
in his report to the governor, he shall report the condition of the com-
panies doing business in this State, and such other information as will
exhibit the affairs of his department; a copy of which said report to
the governor he shall forward to the insurance commissioner or other
similar officer of every other State of the United States, and to each
company doing business in this State; and on request he shall communi-
cate to the insurance commissioner, or other proper officer of any other
State, any facts which by law it is his duty to ascertain respecting com-
panies of this State doing business within such other State; and at the
request of any person, and on payment of the proper fee, as herein-
after provided, he shall give certified copies of any record or paper in
his office when he deems it not prejudicial to the public interest so to
do, and he shall give such other certificates as this sub-title provides
for; and he shall adopt and renew from time to time, when necessary,
with the approval of the governor, a seal of office, an impression and
description of which, with the governor's certificate of approval, shall
be filed with the secretary of state.

Sub-section 7 of this section does not authorize: an insurance company to
be deprived of its property without due process, and hence is not unconsti-
tutional. Suit held to have been brought under, and to have been conducted
in substantial compliance with, sub-section 7, and hence that the court had
jurisdiction. Monumental Ins. Co. v. Wilkinson, 100 Md. 32.

This section referred to in declaring section 122 B of the act of 1902, ch.
338, in conflict with article 3, section 29, of the Maryland Constitution, and1
hence void. Kafka v. Wilkinson, 99 Md. 238.

As to the duty of the insurance commissioner relative to fraternal orders,
see sec. 231, et seq.

1904, art. 23, sec. 161. 1902, ch. 338, sec. 122 A.

179. Whenever the actuary appointed by the state insurance com-
missioner, as provided for by section 175 of this article, shall ascer-
tain that any insurance company doing business in this State is writing
and issuing policies upon an insufficient, insecure or impracticable

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 618   View pdf image (33K)
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