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1935 Cumulative Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 378, Page 660   View pdf image (33K)
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660 ARTICLE 48A.

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 sub-title, he
shall notify such company that it will be necessary for him to have its
affairs examined. Whenever an examination of any company doing busi-
ness in this State shall be determined upon under the provisions of this
sub-title, the examiner of the insurance department and such other person
or persons who shall be appointed by the Commissioner for that purpose
shall visit such company at its principal office and make a thorough exam-
ination into its affairs; and if such company shall refuse 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 company, 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 Commissioner, for
each and every day that he shall be engaged in any such examination; and
such other person or persons who may be appointed by the Commissioner
for any of the purposes mentioned herein shall each be paid by the com-
pany whose affairs are examined, their traveling and other expenses, and
in addition thereto, a sum to be approved by the Commissioner, for each
and every day that he or they are engaged in any such examination;
except that the Commissioner may employ one special examiner oil 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
Commissioner, for each and ©very 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 Commissioner to
assist in the examination of any company organized and located outside
of this State and doing business in this State, shall be paid by such com-
pany his traveling and other expenses and such reasonable compensation
as shall be fixed by the Commissioner, in addition to the salary paid such
official or employee out of the funds of said department. If the per diem
and expenses in any case herein provided shall remain unpaid after ten
days from the completion of any such examination, the Commissioner
may sue therefor. For the purposes of any examination authorized by
law, the Commissioner, or the insurance examiner, shall have power and
is hereby authorized to summon any person or persons being within this
State, and to administer to him or them the proper and necessary oath,
and to examine him or them, under oath, in relation to the affairs and
conditions of any company. The result of the official examination of any
such company may, at the discretion of the Commissioner, be published
within thirty days thereafter at the expense of said company in one daily


 

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1935 Cumulative Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 378, Page 660   View pdf image (33K)
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