CORPORATIONS. 715

amount shall be at all times maintained by said corporation, which stock
must be registered in the name of said treasurer, officially, as held in trust
under and pursuant to this section, and the same shall be held by said
treasurer in trust as security for all the holders of policies or guarantees of
said corporation; provided, however, that no such corporation incorporated
under any law of any other State, district or territory, the United States or
any foreign country, shall be required to make the deposit above set forth
with the Treasurer of this State if said corporation shall have made with
the Insurance Commissioner, Treasurer or other proper officer of any State,
district or territory in the United States, a deposit in the amount as above
set forth of any securities as shall have been approved by the proper officer
where made, for the benefit of all the holders of policies or guarantees of
said corporation, as above set forth, and a certificate thereof under the hand
and official seal of said proper officer shall have been filed with said
Treasurer.

Where a surety company alleged to be solvent goes into voluntary dissolution,
the state treasurer will not be directed to turn over to the receivers the securities
deposited under this section. Vandiver v. Poe, 119 Md. 350. (This case arose prior
to the act of 1912, ch. 194.)

Cited but not construed in State v. German Savings Bank, 103 Md. 203.

See notes to secs. 137 and 147.

An. Code, sec. 111. 1904, sec. 99. 1892, ch. 109, sec. 85F. 1906, ch. 118. 1908, ch. 385.

142. In case any corporation, now or hereafter doing business in this
State, shall refuse or neglect to make the deposit with the state treasurer,
as hereinbefore provided for in this article, the said treasurer shall immedi-
ately cause to be published on three consecutive days in two daily news-
papers, one published in Baltimore city, and one published in the city or
county wherein said corporation has or should have its principal office, a
notice informing the public that such corporation has not complied with
the law, and is therefore conducting business without legal authority so
to do. And the cost of publishing such notices shall be paid by the corpora-
tion named in the notice. The treasurer shall also promptly report the
facts in any such case to the attorney general, who shall thereupon institute
proceedings to enjoin and restrain such corporation if it be organized under
the laws of this State from transacting any business, and if it be organized
under the laws of any other State or of a foreign country from transacting
business in this State, and the court before which such proceedings shall
be begun shall be authorized to pass such order or decree and to issue such
process in the premises to enforce the compliance of such corporation with
the provisions of this article, or to restrain the transaction of business by
such corporation in this State as it may deem proper. For each and every
day that such corporation attempts to transact business in this State with-
out having complied with the requirements of section 141 of this article,
it shall forfeit to the State of Maryland the sum of one hundred dollars,
said sum to be collected as any other debt by an action of debt in the name
of the State. Nothing in this section shall apply to national banks.
See notes to secs. 137 and 147.