WORKMEN'S COMPENSATION 3655

An. Code, 1924, sec. 15. 1912, sec. 15. 1914, ch. 800, sec. 15. 1916, ch. 597, sec. 15.

1920, ch. 456, sec. 15.

15. The employer shall secure compensation to his employees in one
of the following ways:

(1) By insuring and keeping insured the payments of such compensa-
tion in the State Accident Fund, or

(2) By insuring and keeping insured the payments of such compensa-
tion with any stock corporation or mutual association authorized to transact
the business of Workmen's Compensation Insurance in this State.

(3) Any such employer who does not, with the approval of said Commis-
sion, voluntarily insure the payment of the compensation by one of the
methods designated in the preceding paragraphs of this section, must
furnish satisfactory proof to the Commission of his financial ability to pay
such compensation himself, in which case the Commission may, at any time
and from time to time in its discretion require the deposit with the Com-
mission of securities such as are accepted by the Equity Courts of Baltimore
City for the investment of trust funds and in an amount or amounts to be
determined by the Commission, to secure the liability of the employer to
pay the compensation specified in this Article; and in order to be informed
as to the continued financial responsibility of any such employer the Com-
mission may require reports from him annually or at any such other times
as the Commission may deem necessary or advisable, and may examine such
employer under oath or make such other examination of his business as the
Commission may determine. If he should fail to furnish such satisfactory
proof, or give bond, or deposit such securities as required by the Commis-
sion, or if he should at any time fail to render satisfactory reports to the
Commission or otherwise satisfy the Commission of his continued financial
ability to pay the compensation himself, he shall be subject to the provisions
of the first paragraph of this section of this Article, and shall be required
by the Commission to insure as provided in the first paragraph of said this
section, unless he, at once, insures voluntarily as provided in the second
paragraph of this section.

Any employer, subject to the provisions of this Article, who, after No-
vember 1st, nineteen hundred and fourteen, fails or refuses to submit to
said Commission, as provided in the next succeeding paragraphs, the
method he desires to adopt for assuring compensation, or who shall fail to
secure insurance by one of such methods, shall be guilty of a misdemeanor,
and shall be subject to a fine of not less than five hundred nor more than
five thousand dollars. The Court may, in its discretion, remit any such
penalty, provided the employer in default assures the compensation as
provided in this section; and provided, further, that he has paid or secured
to be paid any compensation or other benefits under this Article which
may have been awarded against him.

Any such employer who may wish to adopt any one of the methods men-
tioned in the preceding paragraphs for assuring the payment of compen-
sation to his employees and their dependents, shall first submit to the State
Industrial Accident Commission the method he wishes to adopt. The said
Commission may approve or reject the method proposed. If rejected, the
employer may submit another method authorized under this Article. The
said Commission may from time to time revise or alter its decision in
approving the election of an employer to adopt any one of the methods of
assuring payment of the compensation as provided for in this Article,