222 CORPORATION. [ART. 23

and two disinterested and competent persons, whose duty it shall be to
examine every detail of the business and condition of said company,
and report, in writing, the result of such examination to the judge
appointing them, who shall, if in his judgment the charges of insolvency,
fraud, neglect or abuse, as charged by the insurance commissioner, are
sustained by the said report, at once issue an injunction suspending the
business of said company; and the insurance commissioner shall insti-
tute, or cause to be instituted, the necessary proceedings under the laws
of this State, to close the affairs of any insurance company of this State
which shall appear to him, upon examination, to be insolvent or be fraud-
ulently conducted; and the insurance commissioner is a necessary party
to any proceedings instituted for the purpose of closing up the affairs
of any insurance company, when the same shall not be in the name of
the State of Maryland;, it shall be the duty of the insurance commis-
sioner to report in detail to the attorney-general any violation of the
laws relative to insurance companies, their officers or agents, or the busi-
ness of insurance; and he shall have power to institute suits and prose-
cutions, either by the attorney-general or such other attorney as the
attorney-general may select, for any violation of the provisions of this
sub-title.

Eighth. For every company doing fire and inland insurance business
in this State he shall calculate the re-insurance reserve for unexpired
fire and inland risks by taking fifty per centum of the premium received
on all unexpired risks that have less than one year to run, and a pro rata
of all premiums received on risks that have one year or longer to run,
and in marine insurance he shall charge sixty per centum of the amount
of premiums written in its marine policies upon yearly risks and risks
covering more than one passage, not terminated, and the full amount
of premium under its policies upon all other marine risks less than one
year, not terminated; provided, that the foregoing requirements or
reinsurance reserve when applied to companies organized under the
laws of foreign governments shall be calculated only upon the business
of such company in the United States, and only the assets of such com-
pany held and invested in the United States shall be recognized as
constituting the reserve fund so required.

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.