INSURANCE. 657

may appeal to the Circuit Court of any county sitting in equity, or the
Circuit Court or Circuit Court No. 2 of Baltimore City, in which the
company resides or is doing business, or in which the office of the Com-
missioner may be situated. All such appeals should be upon the record of
proceedings before the Commissioner certified to the Court by the said
Commissioner, including a statement of all facts considered by said
Commissioner on which his finding was based. Either side may introduce
additional testimony or other evidence in the Circuit Court. Such peti-
tion of appeal shall set forth concisely the particulars in which the action
of the Commissioner is claimed to be unlawful, unreasonable or against
the substantial weight of the evidence. If the Court finds such error, it
shall remand the case to the Commissioner for further proceedings in
accordance with its opinion or order; otherwise the action of the Com-
missioner shall be affirmed. From the final decision of the Court hearing
such appeal, any company may take an appeal to the Court of Appeals in
the same manner as in other equity cases, but within ten days after the
order appealed from; and the Court of Appeals shall immediately hear
and determine such appeal. The appeal to the Circuit Court shall be
taken within thirty days from the date of the order, action, or refusal
to act of the Commissioner, provided notice of such order, action or
refusal to act shall be furnished the company as hereinabove provided.

1931, ch. 530, sec. 188.

188. Deposits Required. No company licensed under the provisions
of this sub-title shall at any time offer, negotiate, or sell contracts in the
State of Maryland, unless and until such company shall have assigned to
and deposited with the Commissioner, or with some independent trust, com-
pany approved by him, in trust, as security for all the holders of contracts
or other obligations heretofore or hereafter sold, negotiated, issued or ac-
crued in said company in the State of Maryland, bonds, coin or treasury
notes of the United States of America, or interest or dividend paying
bonds or stocks of this or any other State of the United States or of any
county, incorporated city or other corporation of this or any other State
having legal authority to issue the same and not in default, or other
securities approved by the Commissioner, having a market value of not
less than $25, 000, and at no time less than the aggregate contract liability
of the company under all contracts heretofore or hereafter sold in the
State of Maryland; provided that in the case of a non-resident company
which shall annually produce a certificate of the insurance commissioner
or other proper financial officer of the State in which such company is
organized, setting forth that such company has deposited with him securi-
ties having a market value of not less than $25, 000 and not less than the
aggregate contract liability of the company to the holders of all contracts
or other obligations heretofore or hereafter sold, negotiated, issued or ac-
crued by said company in the United States, and that he holds said deposit
in trust and on deposit, under and by the laws of the State in which he