370

INSURANCE COMPANIES. [ART. 42.

company, by placing some of them upon the market and obtaining
a bond fide offer therefor, shall so establish for them a different
value

1878, c 106
Penally for
violating

9. Any person or persons, or any company or association, vio-
lating any of the provisions of this act, shall be subject to a fine of
not less than one hundred dollars, nor more than one thousand dol-
lars, which fines shall be sued for in the name of the State of Mary-
land, and collected as all other fines as are imposed by the laws of

Proviso

this State are now collectable, provided, that, when by the laws of
any other State, any deposit of money or securities are required, or
taxes, fines, or penalties, or other obligations or prohibitions are
imposed upon insurance companies incorporated or organized under
the laws of this State, and transacting business in such other States,
or upon the agents of such insurance companies, greater than those
required or imposed by the laws of this State, so long as such laws
continue in force, the same taxes, fines, penalties and deposits, obli-
gations and prohibitions, shall be imposed upon all agents or insur-
ance companies of such State doing business in this State, instead

Deposits of
money, etc,
to be made with
treasurer
How securities
transferred.

of those prescribed by the laws of this State. Any deposit of money
or securities required by this section shall be made with the treas-
urer of this State; and it shall be the duty of the treasurer to as-
sign and change or surrender any such securities so held by him,
upon the joint application of the insurance commissioner and the
company to which they belong, and the treasurer shall make no
transfer of such securities, except upon such joint application of the
insurance commissioner and the company by whom they have been
deposited, and all such transfers must be countersigned by the
insurance commissioner.