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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1874   View pdf image (33K)
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1874 ARTICLE 48A.

any such domestic association or branch thereof shall be entertained by
any court in this State unless the same is made by the Attorney-General.

1922, ch. 492, sec. 174.

177. Examination of Foreign Association. The Insurance Commis-
sioner, or any person whom he may appoint, may examine any foreign
association transacting or applying for admission to transact business in
this State. The said Commissioner may employ assistants, and he, or any
person he may appoint, shall have free access to all the books, papers and
documents that relate to the business of the association, and may summon
and qualify as witnesses under oath and examine its officers, agents and
employees and other persons in relation to the affairs, transactions and
conditions of the association. He may, in his discretion, accept in lieu
of such examination the examination of the Insurance Department of the
State, territory, district, province or country where such association is
organized. The actual expenses of examiners making any such examination
shall be paid by the association upon statement furnished by the Insurance
Commissioner. If any such association or its officers refuse to submit to
such examination or to comply with the provisions of this section relative
thereto, the authority of such association to write new business in this
State shall be suspended or license refused until satisfactory evidence is
furnished the Commissioner relating to the condition and affairs of the
association, and during such suspension the association shall not write new
business in this State.

1922, ch. 492, sec. 175.

178. Adverse Publications. Pending, during or after an examination
or investigation of any such association, either domestic or foreign, the
Insurance Commissioner shall make public no financial statement, report
or finding, nor shall he permit to become public any financial statement,
report or finding affecting the status, standing or rights of a.ny such asso-
ciation until a copy thereof shall have been served upon such association at
its home office, nor until such association shall have been afforded a reason-
able opportunity to answer any such financial statement, report or finding
and to make such showing in connection therewith as it may desire.

1922, ch. 492, sec. 176.

179. Revocation of License. When the Insurance Commissioner, on
investigation, is satisfied that any foreign association transacting business
under this Article has exceeded its powers, or has failed to comply with,
any provisions of this Article, or is conducting business fraudulently, or
is not carrying out its contracts in good faith, he shall notify the association
of his findings and state in writing the grounds of his dissatisfaction, and
after reasonable notice require said association on a date named to show
cause why its license should not be revoked. If on the date named in said
notice such objections have not been removed to the satisfaction of the
said Commissioner, or the association does not present good and sufficient
reasons why its authority to transact business in this State should not at

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1874   View pdf image (33K)
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