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The Maryland Code Public General Laws, 1904
Volume 393, Page 619   View pdf image (33K)
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ART. 23] ABUSE—MISUSE—NONUSER. 619

shall accompany the mortgage or deed of trust; and the insur-
ance commissioner shall have the authority, when any of the
securities mentioned in this section and held by any insurance
company reporting to him are of doubtful market value, or
without any ascertainable value in the exchange, to cause the
same to be appraised by two disinterested and competent per-
sons, whose estimate of the value of such securities shall be
taken to be the value thereof, unless the company, by placing
some of them upon the market, and obtaining a bona fide offer
therefor, shall so establish for them a different value.
Fraternal Alliance v. State, 86 Md. 558.

1888, art. 23, sec. 137. 1860, art. 56, sec. 35. 1858, ch. 432, sec. 8.
1872, ch 388, 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

187. Whenever the attorney-general of the State or the
State's attorney for the city of Baltimore or for any county of
this State shall be required by the insurance commissioner to
institute proceedings against any insurance company, incor-
porated under the laws of this State, to ascertain whether such
corporation has been guilty of such misuse, abuse or non-user
of its corporate powers and franchises, as by law would authorize
and make proper the forfeiture of its charter, corporate powers
and franchises, the said attorney-general, or State's attorney,
as the case may be, so required, shall file with the superior
court of Baltimore city, or the circuit court for the county, as
the case may be, a petition in the name of the State, setting
forth fully in detail the alleged abuse, misuse or non-user, by
reason whereof the forfeiture is sought; and upon the filing of
such petition, the court in which it is filed, or any judge thereof,
shall lay a rule requiring the said company or corporation to
show cause, within such time as the said judge may deem proper,
why a decree of forfeiture should not be passed as prayed in
said petition; a copy of which rule, and the petition shall be
served on the president, manager, secretary, or some other
officer of the said company or corporation, by a day to be
therein limited, not exceeding twenty days, as other processes
against such companies or corporations are directed to be
served; and further proceedings shall be had in said cause in
conformity with the provisions of this article.

Ibid, sec 138. 1860, art. 56, sec 36. 1858, ch. 432, sec. 8. 1872, ch. 388.
1874, ch. 400. 1876, ch. 248. 1878, ch. 106 1894, ch. 175.

188. Any person or persons, or any company or association,
violating any of the provisions of sections 158-187, inclusive,


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 619   View pdf image (33K)
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