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The Maryland Code, Public General Laws, 1888
Volume 389, Page 329   View pdf image
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ART. 23.] CORPORATIONS—INSURANCE COMMISSIONER. 329

the result of such examination to the judge appointing them, who
shall, if in his judgment the charges of insolvency, fraud, neglect
or abuse, as charged by the insurance commissioner, are sustained
by the said report, at once issue an injunction suspending the
business of said company; and the insurance commissioner shall
institute, or cause to be instituted, the necessary proceedings under
the laws of this State, to close the affairs of any insurance com-
pany of this State which shall appear to him, upon examination,
to be insolvent, or to be fraudulently conducted; and the insur-
ance commissioner is a necessary party to any proceedings insti-
tuted for the purpose of closing up the affairs of any insurance
company when the same shall not be in the name of the State of
Maryland. It shall be the duty of the insurance commissioner to
report in detail to the attorney general any violation of the laws
relative to insurance companies, their officers or agents, or the
business of insurance; and he shall have power to institute suits
and prosecutions, either by the attorney general, or such other
attorney as the attorney general may select, for any violation of
the provisions of this article.

Tenth. The insurance commissioner shall preserve in perma-
nent form a full record of his proceedings, and a concise statement
of the condition of each company visited or examined, and report
annually to the governor, on or before the first day of June, his
official acts; and shall, on the first day of December, annually,
report to the comptroller the fees received, and expenses of his
department for the year then to end, and pay into the treasury all
excess of receipts over disbursements; and in his report to the
governor, he shall report the condition of the companies doing
business in this State, and such other information as will exhibit
the affairs of his department; a copy of which said report to the
governor he shall forward to the insurance commissioner or other
similar officer of every other State of the United States, and to
each company doing business in this State; and, on request, he
shall communicate to the insurance commissioner, or other proper
officer, of any other State, any facts which by law it is his duty
to ascertain respecting companies of this State doing business
within such other State; and at the request of any person, and
on payment of the proper fee as hereinafter provided, he shall
give certified copies of any record or paper in his office, when he

 

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The Maryland Code, Public General Laws, 1888
Volume 389, Page 329   View pdf image
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