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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 221   View pdf image (33K)
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ART. 23] INSURANCE DEPARTMENT. 221

mentioned herein shall each be paid by the company whose affairs are
examined their traveling and other expenses, and in addition thereto, a
sum to be approved by the Insurance Commissioner, not exceeding, how-
ever, ten dollars ($10.00) per day for each and every day that he or
they are engaged in any such examination; except, that the Insurance
Commissioner may employ one special examiner on any examination
that in his judgment may require such employment who shall be paid
by the company whose affairs are examined his traveling and other
expenses, and in addition thereto, a sum to be approved by the Insur-
ance Commissioner, not exceeding, however, twenty-five dollars ($25.00) '
per day, for each and every day that he is engaged in any such examina-
tion ; and provided, further, that any official or employee of the Insur-
ance Department who shall be directed by the Insurance Commissioner
to assist in the examination of any insurance company organized and
located outside of this State and doing business in this State, shall be
paid by such company his traveling and other expenses and such reason-
able compensation as shall be fixed by the Insurance Commissioner, in
addition to the salary paid such official or employee out of the funds of
said Department, if the per diem and expenses in any case herein pro-
vided shall remain unpaid after ten days from the completion of any
such examination, the Insurance Commissioner may sue therefor. For
the purposes of any examination authorized by law, the Insurance Com-
missioner, or the Insurance Examiner, shall have power and is hereby
authorized to summon any person or persons being within this State,
and to administer to him or them the proper and necessary oath, and to
examine him or them, under oath, in relation to the affairs and condi-
tions of any insurance company. In order that the public may be fully
informed as to the condition of all companies doing business in this
State, the result of the official examination of any such company, in
such condensed form as shall show the true condition of the company
examined, shall be published within .thirty days thereafter by the Insur-
ance Commissioner, at the expense of said company, in one daily news-
paper published in the City of Baltimore. Should any insurance com-
pany organized under the laws of this State refuse to permit its affairs
to be examined as herein provided, or refuse free acess to its books or
papers, or in any manner whatever prevent a thorough examination, the
said Insurance Commissioner shall proceed against said company in the
manner provided in the seventh sub-Section of (his Section.

Seventh. Whenever the insurance commissioner shall have reason to
believe that any insurance company is insolvent, or fraudulently con-
ducted, or that its assets are not sufficient for carrying on the business
of the same, or during any non-compliance with the provisions of this
article, it shall be his duty to make complaint thereof to the judge of
either of the circuit courts of Baltimore city, or any judge of the circuit
court for the county where the company or agent may be located, as the
case may be; which judge shall, upon the requisition of the commis-
sioner, appoint a commission, consisting of the insurance commissioner

 

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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 221   View pdf image (33K)
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