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The Annotated Code of the Public General Laws of Maryland, 1918
Volume 374, Page 131   View pdf image (33K)
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ART. XXIII] INSURANCE DEPARTMENT. 131
an unsound condition; and whenever the Insurance Commissioner may
have reason to doubt the solvency or correctness of the statement of
any company not organized under the laws of this State, which may
have been licensed to do business in this State, or which may be apply-
ing for said license, he shall communicate such doubts, and the reasons
for them, to the Insurance Commissioner, or other officer charged with
the supervision of insurance corporations of the State in which said
company is located, and if he is not satisfied from the information
obtained from such Insurance Commissioner or other officer, or from
the officers of the Company, that the condition of the Company is such
as to warrant him in permitting it to transact business in this State,
under the provisions of this Article, he shall notify such company that
it will be necessary for him to have its affairs examined. Whenever
an examination of any insurance company doing business in this State
shall be determined upon under the provisions of this Article, the
Examiner of the Insurance Department and such other person or per-
sons who shall be appointed by the Insurance Commissioner for that
purpose shall visit such company at its principal office and make a
thorough examination into all its affairs; and if such company shall
lefuse to permit such examination, or shall refuse free access to all its
books and papers, or shall in any way prevent or obstruct a thorough
examination into its affairs, he shall not grant a license to such com-
pany, or if a license shall already have been granted, he shall at once
revoke it and publish the fact of such revocation in one daily newspaper
published in the City of Baltimore. The Examiner of the Insurance
Department 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 Insurance Commissioner, not exceeding, however, fif-
teen dollars ($15.00) for each and every day that he shall be engaged in
any such examination, said per diem and expenses to be in addition to
the compensation provided in Section 177 of this Article; and such
other person or persons who may be appointed by the Insurance Com-
missioner for any of the purposes 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 Insur-
ance Commissioner, not exceeding, however, 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 Insurance Commissioner, not
exceeding, however, twenty-five dollars ($25.00) per day, for each and
every day that he is engaged in any such examination; and provided,
further, that any official or employee of the Insurance Department
who shall be directed by the Insurance Commissioner to assist in the
examination of any insurance company organized and located outside of


 
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The Annotated Code of the Public General Laws of Maryland, 1918
Volume 374, Page 131   View pdf image (33K)
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