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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1830   View pdf image (33K)
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1830 ARTICLE 48A.

1922, ch. 492, sec. 72.

75. When Tax Need Not be Paid. Whenever any person or firm resi-
dent in this state, or corporation incorporated under the laws of this state,
shall file with the insurance commissioner an affidavit that said person,
firm or corporation is unable to obtain in companies legally authorized to
do business in this state, insurance, or a sufficient amount thereof, on
property situate in this state owned by said person, firm or corporation,
then the commissioner shall issue a license to such person, firm or cor-
poration authorizing the procurement of insurance in non-admitted com-
panies or associations to the extent, of the insurance desired; and such
person, firm or corporation shall not be required to pay the tax imposed
by the preceding section, but shall be required to pay said insurance com-
missioner a fee of one dollar on each policy so obtained; and said com-
missioner shall make a record thereof in the book mentioned in the
preceding section, showing name of company, number of policy, amount
of insurance, rate, premium and date of expiration of policy; and in case
of damage to or loss by fire, lightning or tornado of any property so insured,
the said unauthorized company is hereby authorized through its agent
or agents to enter this state for the purpose of adjusting any such loss or
damage sustained under said policies, but not to solicit insurance in such
unauthorized companies.

1922, ch. 492, sec. 73.

76. Stamping Policies in Unauthorized Companies. It shall be the
duty of the commissioner to stamp all policies issued in non-admitted
companies "Unauthorized Company, Tax paid," or " Unauthorized Com-
pany, no Tax." Provided, however, that railway companies and other
common carriers engaged in inter-state commerce, may place insurance
without complying with the requirements of this section and sections
74 and 75.

1922, ch. 492, sec. 74. 1924, ch. 159.

77. Stamping Policies in Authorized Companies. All policies of in-
surance against loss or damage to property in this State from fire, lightning
or tornado issued by companies authorized to transact such business in
this State, or by any mutual company or association or by any association,
partnership, Lloyd's, individual underwriters, or reciprocal association,
authorized or permitted to do any insurance business within this State,
shall have plainly marked or stamped in indelible ink on each policy the
words following, " Authorized to do business in the State of Maryland,"
to which shall be affixed a facsimile of the signature of the insurance com-
missioner. The commissioner shall furnish stamps for the purpose herein
prescribed at a cost not to exceed two dollars for each stamp, to be paid
by all such authorized companies.

1922, ch. 492, sec. 75.

78. Penalties for Violation of Sections 74- 75, 76 and 77. Any person
who shall, with intent to avoid the payment of the tax on insurance in

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1830   View pdf image (33K)
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