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The Maryland Code Public General Laws, 1904
Volume 393, Page 603   View pdf image (33K)
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ART. 23] INSURANCE COMMISSIONER. 603

may be fully informed as to the condition of all companies
doing business in this State, the result of the official exami-
nation of any such company, within thirty days thereafter, in
such condensed form as shall show the true condition of the
company examined, shall be published by the insurance com-
missioner at the expense of the company in one daily news-
paper printed and published in the city of Baltimore; and
should any insurance company organized under the laws of
this State refuse to permit its affairs to be examined as herein
provided, or refuse free access to its books or papers, or in
any manner whatever prevent a thorough examination, the said
insurance commissioner shall proceed against said company in
the manner provided in the seventh sub-section of this section.
Seventh. Whenever the insurance commissioner shall have
reason to believe that any insurance company is insolvent, or
fraudulently conducted, or that its assets are not sufficient for
carrying on the business of the same, or during any non-
compliance with the provisions of this article, it shall be his
duty to make complaint thereof to the judge of either of the
circuit courts of Baltimore city, or any judge of the circuit
court for the county where the company or agent may be
located, as the case may be; which judge shall, upon the
requisition of the commissioner, appoint a commission, con-
sisting of the insurance commissioner and two disinterested
and competent persons, whose duty it shall be to examine
every detail of the business and condition of said company,
and report, in writing, 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 company
of this State which shall appear to him, upon examination, to
be insolvent or be fraudulently conducted; and the insurance
commissioner is a necessary party to any proceedings instituted
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 commis-
sioner 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


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 603   View pdf image (33K)
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