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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 227   View pdf image (33K)
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AET. 23] INSURANCE DEPARTMENT. 227

Such premium reserves shall be subject to verification by the Insurance
Commissioner during any regular examination of such corporation.

Fifteenth. Should any corporation incorporated under the laws of
any other State, but authorized by law to do a bonding and casualty
insurance business in this State, fail or refuse to set aside reserves for
premiums and unadjusted losses, then the Insurance Commissioner of
this State is authorized and directed to revoke the license of such foreign
bonding or casualty insurance company until the Act of 1914, Chapter
631, is complied with.

182.

As to process against fraternal orders, see article 23, section 244A.

1904, art. 23, sec. 167. 1888, art. 23, sec. 126. 1860, art. 56, sec. 31. 1858, ch. 432,

sec. 6. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

1880, ch. 387. 1890, ch. 545 1804, ch. 290. 1902, ch. 250.

1910, ch. 734 (p. 77). 1912, ch. 207.

184. No person, firm or corporation shall act as agent or solicitor in
this State for any insurance company, including individuals, whether
residents or non-residents, partnership or joint stock association, except
for such companies as may be chartered under the laws of this State, in
any manner whatever relating to insurance risks, until all the provisions
of this article relating thereto have been complied with, and there has
been granted by the Insurance Commissioner aj certificate of authority
or license, for which said company, individual, resident or non-resident,
association or their agent, doing a life insurance business, shall pay to
the Insurance Commissioner the sum of three hundred dollars ($300),
and all other such companies, individuals, whether resident or non-
resident, association or their agent, except those as may be chartered
under the laws of this State, shall pay the sum of one hundred dollars
($100), and all companies, individuals, resident or non-resident, associ-
ation or their agent, except such as may be chartered under the laws of
this State, shall also pay to the Insurance Commissioner a tax on the
amount of premiums contracted to be paid or actually collected, received,
allowed or secured in this State, or from residents thereof, during the
last license year by or for said company, individual, resident or non-
resident, partnership or association, and without any deduction for
expenses or endowments or dividends which may have been paid or
allowed, or for any other cause whatsoever; which tax shall be at the
rate of two per centum on premiums on policies of such companies,
whose charters authorize them to write fire, marine or inland insurance,
and at the rate of one and one-half per centum on premiums on policies
of all other such companies; and which rates shall not be increased or
diminished by reason of any greater or less rates being chargeable under
the laws of any other State or territory. A report of the premiums so
collected as above must be made to the Insurance Commissioner under
oath of the chief accountant officers of such company at the time of
obtaining the license hereinabove provided for. The Insurance Com-

 

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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 227   View pdf image (33K)
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