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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 217   View pdf image (33K)
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ART. 23] INSURANCE DEPARTMENT. 217

day, as shall be determined upon by the Insurance Commissioner, in
addition to the aforesaid salary paid out of the fees of the department.

1904, art. 23, sec. 160. 1888, art. 23, sec. 122. 1860, art. 56, sec. 28. 1858, ch.

432, sec. 2. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248.

1878, ch. 106. 1886, ch. 132. 1894, ch. 272.

1902, ch. 338. 1914, ch. 821. 1914,

ch. 152. 1914, ch. 631.

178. It shall be the duty of the insurance commissioner:
First. To see that all laws of this State relating to insurance or insur-
ance companies are faithfully executed; to keep on file in his office
copies of the charter, declaration of organization or deed of settlement
of every insurance company, including partnerships, joint stock associa-
tions and corporations organized under the laws of this State, or organ-
ized under the laws of some other State or nation, and applying to do
business in this State, which copies shall be duly certified in accord-
ance with the laws by the secretary of State or other proper officer of
the State or nation wherein such companies are organized; and the
insurance commissioner shall, upon application of any such company or
association, furnish them with certified copies of their charter so filed
in his department.

Second. To furnish in December of each year to the companies
required by this article to report to him the necessary blank forms for
the statements required; and as soon as practicable in each year, he
shall cause to be calculated by the actuary of his department, under
his supervision, the net value, on the thirty-first day of .December of
the previous year, of all the policies and additions thereto, and all obli-
gations for the payment of annuities in force on that day of each life
insurance company doing business in this State organized by authority
of this State, and every other life insurance company doing business
in this State, that shall fail to furnish him, as hereinafter provided,
from the insurance -commissioner of the State by whose authority the
company was organized, or of the State in which it may elect to have
its policies valued and its deposits made; in case the company is char-
tered by the government of the United States, or by any foreign govern-
ment, or by any State not having an insurance department, a certifi-
cate giving the net value of all policies in force in the company on the
thirty-first day of December of the preceding year, which calculation
of the net value of the policies in force shall, for all policies issued on
or before the thirty-first day of December, in the year 1902, be based
upon the "American Experience Table of Mortality," and four and
one-half per cent, interest par annum, and for all policies issued subse-
quent to said thirty-first day of December, in the year nineteen hun-
dred and two, upon the actuaries' table of mortality, and four per cent,
interest per annum; provided, that the insurance commissioner may,
upon the request of any company, cause all the policies of such com-
pany to be valued upon the latter basis; and provided further, that

 

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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 217   View pdf image (33K)
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