146

LAWS OF MARYLAND.

elicit a full exhibit of its business and standing, all

of which statements herein required must be certified

by the signatures and oath of the President or Yice-

President of the company, with that of the Secre-

tary or Actuary. No company having neglected to

file a statement required of it within the time and

Shall tlo any
new business.

manner prescribed shall do any new business, after no-
tification by the Insurance Commissioner, while such

neglect continues ; and any company or association

neglecting for thirty days to make and transmit any

Shall forfeit.

statement required shall forfeit one hundred dollars

for each day's neglect, and any person or company

wilfully making a false statement in any report to

the Insurance Commissioner shall be liable to the

fines imposed by section thirty-six of this act.

Capital stock

34. The capital stock of no insurance company,

mutual insurance companies excepted, incorporated

by this State, or incorporated by the laws of any

other State or Nation, and doing business in this

State, whether Life, Fire, Marine or Inland Insur-

ance, shall be less than one-hundred thousand dol-

lars ; and every insurance company authorized to do

Continually

business in this state, must have, and continually

keep an am'nt

keep an amount equal to its entire re-insurance re-

serve, and all other debts and claims against it, ex-

clusive of capital stock invested in the bonds, coin

or treasury notes of the United States, or bonds or

stocks of this or any other State of the United States,

or of any county, incorporated city or other corpora-

tion of this or any other State having legal authori-

ty to issue the same, not only bearing but paying in-

terest, or it may be invested in real estate for their

office or business purpose only ; Provided, however,

Right to

that they shall have the right to purchase and hold

purchase and

real estate under a foreclosure of their own mort-

hold

gages for a period of not more than five years ; and

for five years longer if in the judgment of the Insur-

ance Commissioner it is advisable so to do, or it may

be invested in ground rents, or loaned upon mort-

gages of unincumbered real estate, in this or any

other State of the United States, worth at least

double the amount loaned thereon exclusive of build-

ings, except where such buildings are insured against

fire, and the policies duly assigned as additional se-

curity, when the value of the buildings so insured ?