2188 ARTICLE 48A

1931, ch. 530, sec. 195. 1939, ch. 52.

229. (Liquidation of Insolvent or Illegally Conducted Companies.)
Whenever the Commissioner shall have reason to believe that any company
is insolvent, or fraudulently 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 sub-title, it shall be his duty in addition to revoking the
license of such company, to proceed against it as provided by Sections 52 to
63, both inclusive, of this Article, for the liquidation of insolvent or fraudu-
lently conducted insurance companies.

See sec. 52.

1931, ch. 530, sec. 196.

230. (Proceedings to Vacate Charter.) Whenever the Attorney Gen-
eral or the State's Attorney for the City of Baltimore or for any county of
the State shall be required by the Commissioner to institute proceedings
against any company incorporated under the laws of this State, or ascer-
tain whether such corporation has been guilty of such misuse, abuse or
non-user of its corporate powers and franchises, as by law would authorize
and make proper the forfeiture of its charter, corporate powers and fran-
chises, the said Attorney General or State's Attorney, as the case may be,
shall file with the Superior Court of Baltimore City, or the Circuit Court
of the county, as the case may be, a petition in the name of the State,
setting forth in detail the alleged abuse, misuse, or non-user, by reason
whereof the forfeiture is sought; and upon the filing of such petition the
court in which it is filed, or any judge thereof shall lay a rule requiring
the said company or corporation to show cause, within such time as the
said judge may deem proper, why a decree of forfeiture should not be
passed as prayed in said petition; a copy of which rule and the petition
shall be served on the president, manager, secretary or some other officer
of the said company or corporation, by a day to be therein limited, not
exceeding twenty days, as other processes against such companies or cor-
porations are directed to be served; and further proceedings shall be
had in said cause in conformity with the provisions of Article 23 with
reference to proceeding to vacate the charter of corporations of the State.

1931, ch. 530, sec. 197.

231. (Fees.) Every company applying for a license under the provi-
sions of this sub-title shall at the time of application pay to the Com-
missioner a fee of one hundred dollars ($100) and one hundred dollars
($100.00) at each annual renewal of said license. Every company shall
also pay an annual fee of twenty-five dollars ($25.00) for filing its annual
statement.

1931, ch. 530, sec. 198.

232. (Penalties.) Any individual, agent or broker who sells or at-
tempts to sell or negotiate within this State any contract of, or issued by,
any company subject to the requirements of this sub-title, unless such com-
pany is licensed as herein provided, is guilty of a misdemeanor and upon
conviction shall be sentenced to pay a fine of not less than one hundred
dollars nor more than one thousand dollars, or to undergo imprisonment
for not more than one year, or both.