JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 139
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its affairs. At such time he shall have free access to
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its books and papers, and shall thoroughly inspect
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and examine its affairs to such extent, and make
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such inquiries as may be necessary to ascertain its
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condition and ability to fulfill its engagements, and
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whether it has complied with all the provisions of
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law applicable to its transactions. And whenever
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the Insurance Commissioner may have reason to
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Have reason
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doubt the solvency or the correctness of the statement
of any company not organized under the laws of this
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to doubt sol-
vency of com-
pany.
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State, he shall communicate such doubts, and the
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reasons for them, to the Insurance Commissioner or
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other proper officer of the State in which such com-
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pany is located. And if he is not satisfied from the
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information obtained from such Insurance Commis-
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sioner or other officer, or from the officers of the
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company that the condition of the company is such
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as to warrant him in permitting it to transact busi-
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ness in this State, under the provisions of this act,
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he shall notify such company that it will be neces-
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Notify com-
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sary for him to examine its affairs before giving it
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pany it will
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authority so to transact business in this State ; and
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be necessary
to examine its
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for that purpose he shall visit such company at its
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affairs.
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principal office, and make or cause to be made under
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his supervision a thorough examination into all its
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Cause thor-
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aifairs, and such examination shall only go to the
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ough examin-
ation.
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extent of ascertaining whether the assets claimed to
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be possessed by such company are bona fide their
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own property, and of the character required by law,
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and the actual value thereof, and to the extent of
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ascertaining the liabilities of such company, and the
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expenses of such examination shall be paid by the
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company. And if such company shall refuse to
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If company
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permit such examination, or shall refuse free access
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refuse exam-
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to all its books and papers, or shall in any way pre-
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ination.
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vent or obstruct a thorough examination into its affairs,
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Shall not
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he shall not grant a license to such company, or if a
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grant license.
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license shall have been already granted he shall at once
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Shall at once
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revoke it, and publish the fact of such revocation in
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revoke
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one daily newspaper published in the city of Balti-
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Publish in
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more. For the purpose of examinations authorized
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newspaper.
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by law the Insurance Commissioner shall have power
to summon and examine any person being within this
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Have power
to summon
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State, under oath, which he is hereby authorized to
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and examine
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administer, in relation to the affairs and condition of
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any person.
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any insurance company ; and in order that the pub-
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