JOHN LEE CARROLL, ESQUIBE, GOVEBNOB. 147
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to an extent not exceeding the amount for which
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they are insured — shall be taken into account as a
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part of the security for such loan, in determining
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whether the security is worth double the amoint
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Worth double
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loaned thereon ; or it may be loaned on pledges of
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the amount.
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any security named in this section, or on the policies
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of the company in force ; Provided: that each loan
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Loans and
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is less than the net reserve of the policy on which
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pledged se-
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the loan is made, according to the standard of valu-
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curities.
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ation prescribed in this act ; And provided : that the
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current market value of such pledged securities, oth-
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. er than the bonds and stocks of this State, or of the
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United States,shall be at all times during the con-
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tinuance of such loans, at least ten per cent, more
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than the sum loaned on them ; and all such loans
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shall be subject to the power of the company to ter-
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minate the same in case of the depreciation of the
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securities below that limit ; And provided: that in
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all investments made upon mortgage securities, the
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Mortgage se-
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evidence of the debt shall accompany the mortgage
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curities.
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or deed of trust ; and the Insurance Commissioner
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shall have the authority, when any of the securities
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mentioned in this section and held by any insurance
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company reporting to him, are of doubtful market
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value, or without any ascertainable value in the ex-
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changes, to cause the same to be appraised by two
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disinterested and competent persons, whose estimate
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of the value of such securities shall be taken to be
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the value thereof unless the company, by placing
some of them upon the market and obtaining a bona
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fide offer therefor, shall so establish for them a dif-
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ferent value.
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35. Whenever the Attorney General of the State
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or the State's Attorney for the city of Baltimore or
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for any county of this State shall be required by the
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Insurance Commissioner to institute proceedings
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To institute
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against any insurance company, incorporated under
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proceedings.
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the laws of this State, to ascertain whether such
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corporation has been guilty of such misuse, abuse or
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non-user of its corporate powers and franchises, as
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by law would authorize and make proper the for-
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feiture of its charter, corporate powers and fran-
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chises, the said Attorney General, or State's Attor-
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ney, as the case may be, so required, shall file with
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the Superior Court of Baltimore city, or t+he Circuit
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