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The Maryland Code Public General Laws, 1904
Volume 393, Page 602   View pdf image (33K)
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602 CORPORATIONS. [ART. 23

policy-holders or persons pecuniarily interested therein, who
shall make affidavit of their belief, with specifications of rea-
sons therefor, showing a prima facie case that such company
is in an unsound condition; and whenever the insurance
commissioner may have reason to doubt the solvency or
the correctness of the statement of any company not organ-
ized under the laws of this State, which may have been licensed
to do business in this State, or which may be applying for said
license, he shall communicate such doubts, and the reasons for
them, to the insurance commissioner, or other officer charged
with the supervision of insurance corporations of the State in
which said company is located, and if he is not satisfied from
the information obtained from such insurance commissioner or
other officer, or from the officers of the company, that the con-
dition of the company is such as to warrant him in permitting
it to transact business in this State, under the provisions of
this article, he shall notify such company that it will be nec-
essary for him to have its affairs examined by some person or
persons by him appointed, and for that purpose the person or
persons by him appointed shall visit such company at its prin-
cipal office and make a thorough examination into all its
affairs; and if such company shall refuse to permit such exam-
ination, or shall refuse free access to all its books and papers,
or shall in any way prevent or obstruct a thorough examination
into its affairs, he shall not grant a license to such company,
or if a license shall already have been granted, he shall at once
revoke it and publish the fact of such revocation in one daily
newspaper published in the city of Baltimore, and the person
or persons by him appointed for any of the purposes men-
tioned herein shall each be entitled to a sum not exceeding ten
dollars ($10) for each and every day he or they are engaged in
any such examination, and in addition thereto he or they shall
be paid his or their traveling and other expenses, which said
per diem and expenses shall be paid by the company whose
affairs are examined, and, if not paid within ten days after the
completion of such examination, may be sued for by the insur-
ance commissioner; for the purpose of any examination author-
ized by law, the insurance commissioner, or the person or
persons by him appointed, shall have power to summon and
examine any person being within this State, under oath, which
said insurance commissioner, or person or persons, are hereby
authorized to administer in relation to the affairs and condi-
tions of any insurance company; and in order that the public


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 602   View pdf image (33K)
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