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The Maryland Code Public General Laws, 1904
Volume 393, Page 570   View pdf image (33K)
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570 CORPORATIONS. [ART. 23

upon the pledge of securities of whatsoever kind, with a state-
ment of the securities so pledged and held .as collateral for
such loans; the amount invested in real estate, giving the cost
of the same; the amount of cash on hand and on deposit in
bank, or wheresoever else, with the name of such banks or
places of deposit, and the amount deposited in each, and such
other information as the said treasurer may require; such
report shall also state all the liabilities of such corporation,
the amount due depositors, which shall include any dividend
to be credited to them and any other debts or claims against
such corporation which are or may be a charge upon its assets.
And the said treasurer may require that a like report, either
wholly or in port, as to the particulars aforesaid, be made to
him at any other time by any such corporation aforesaid within
such period as he may designate.

1892, ch. 109, sec. 85 B.

95. It shall be the duty of said treasurer, yearly, either
personally or by some competent person or persons, to be
appointed by him, to visit and examine every such corporation
having an office or place of business in this State required by
section 94 to report as aforesaid. The said treasurer and every
such examiner shall have power to administer an oath to any
person those testimony may be required in the prosecution of
any such examination, and all books and papers which it may
be deemed necessary to examine by the treasurer or examiner
by him appointed shall be produced. The expenses of every
such examination, not to exceed twenty-five dollars, shall be
paid by the corporation so examined. Whenever such exami-
nation shall be made by the treasurer personally, or by one or
more of the regular clerks in his office, no charge shall be
made for such examination, but only for necessary travelling
and other actual expenses incurred by such examination.

Ibid. sec. 85 c.

96. On every such examination, inquiry shall be made as to
the condition and resources of the corporation generally, the
mode of conducting and managing its affairs, the action of its
officers, directors, managers, and those having charge of its
business conduct, the investments of its funds, the safety and
prudence of its management, the security afforded to those by
whom its engagements are held and whether the requirements
of its charter and of the law have been complied with in the
administration of its affairs.


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 570   View pdf image (33K)
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