clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2115   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

INSURANCE 2115

paid by the company whose affairs are examined, the traveling and other
necessary expenses incurred in any such examination, and in addition
thereto, a per diem fee to be fixed by the Commissioner. Whenever the
necessity may appear, the Insurance Commissioner is authorized to em-
ploy special examiners or assistants on a per diem basis, and to charge
the company whose affairs are examined for their traveling and other
necessary expenses, including the per diem fee to be fixed by the Com-
missioner. The Insurance Commissioner shall collect all such fees and
expenses, and pay the same to the State Treasurer, and he shall draw, on
proper orders, from the State Treasury, the amounts necessary for the
salaries and expenses of his office, and for the payment of per diem fees,
but no official or employee of the department, receiving a regular salary,
except the Senior Examiner, now acting as Examiner and Chief Clerk,
and who now receives compensation as provided by the budget and per
diem fees approved by the Insurance Commissioner when engaged in the
examination of companies, shall be paid or receive any additional com-
pensation or per diem fees, except to the extent permitted by the express
provisions of this sub-title. Provided, however, that the total amount
of salary and per diem fees for said Senior Examiner shall not exceed four
thousand dollars ($4,000.00) in any one year. If the per diem and ex-
penses in any case herein provided shall remain unpaid after ten days
from the completion of any such examination, the Insurance Commissioner
may sue therefor. For the purposes of any examination authorized by law,
the Insurance 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 condition of any insurance company. The result of the official exam-
ination 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 newspaper published in the City of Baltimore in such con-
densed form as shall show the true condition of the company examined.
Should any insurance company organized under the laws of this State
refuse to permit its affairs to be examined as herein provided, or refuse
free access to its books or papers, or in any manner whatever prevent a
thorough examination, the said Insurance Commissioner shall proceed
against said company in the manner provided in Section 52.
See sec. 227.

An. Code, 1924, sec. 51. 1922, ch. 492, sec. 51. 1933, ch. 552, sec. 51.

52. (Liquidation of Insolvent or Illegally Conducted Companies.)
Whenever the Insurance Commissioner shall have reason to believe that
any insurance company doing business in this State is insolvent, or fraudu-
lently conducted, or that its assets are not sufficient for carrying on the
business of the same, or during any non-compliance with the provisions of
this Article, it shall be his duty to forthwith cause proper proceedings
to be instituted in the name of the State of Maryland against any such
company in a court of competent jurisdiction, for the purpose of obtain-
ing an injunction suspending the business of said company and having
the said court assume jurisdiction over the property and business of said
company for final liquidation, and the court in which said proceeding is
instituted shall be authorized to appoint the Insurance Commissioner or
the Deputy Insurance Commissioner, Receiver of such company, provided,
68


 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2115   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 06, 2023
Maryland State Archives