|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ART. XXIII] INSURANCE COMPANIES. 119
State or country, and shall file with the Insurance Commissioner of
this State the following: (a) a certified copy of its Article of Incor-
poration or Association and of its by-laws; (b) a consent duly executed,
appointing the State Insurance Commissioner of Maryland to be the
true and lawful attorney for such company in and for this State, upon
whom all legal process in any action or proceeding against the com-
pany may be served with the same effect as if it were a domestic com-
pany. Service upon such attorney shall thereafter be deemed service
upon the company; (e) an agreement that it will pay the taxes provided
for in Section 184 of this Article and that it will furnish any further
information as to its financial condition as the Insurance Commissioner
shall require; (d) each such company shall pay to the Insurance Com-
missioner the fees required by Section 184 of this Article applicable
to Fire Insurance Companies.
Provided, however, that such companies in computing the tax to be
paid on the gross premiums, shall be entitled to take credit foi return
premiums on cancelled policies and for reinsurance effected in com-
panies authorized to do business in this State, and also to deduct the
amount of all unabsorbed premium deposits actually returned or cred-
ited to policy holders during the tax year; provided, that no such deduc-
tion shall be made, unless such unabsorbed premium deposits have been
included as premiums received.*
1916, ch. 256, sec. 154Y. 1918, ch. 400, sec. 154Y.
154Y. All provisions of Article 23 governing or in any manner
applying to stock fire insurance companies not inconsistent with any
provision of Section 154L to Section 154X, both inclusive, of this
Article, shall govern and apply with equal force to mutual fire insur-
ance companies, and all sections of said Article 23 inconsistent in
whole or in part with any section or provision of the Act of 1918,
Chapter 400, are hereby repealed in so far as they may be inconsistent
herewith.*
|
|
|
|
|
|
|
|
|
|
1918, ch. 400, sec. 154AA.
154AA. Individuals, partnerships and corporations of this State,
hereby designated as subscribers, are hereby authorized to exchange
Teciprocal or inter-insurance contracts with each other or with individ-
uals, partnerships and corporations of other States and countries pro-
viding indemnity among themselves from any loss which may be insured
against under other provisions of the laws of this State, excepting life,
health and personal accident insurance. Such contracts and the
exchange thereof and such subscribers, their attorneys and representa-
tives, shall be regulated by the Act of 1918, Chapter 400, and by no
other law relating to insurance, unless such law is referred to in said
|
|
|
|
|
|
|
|
|
|
*See foot note to section 154L.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
