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Session Laws, 1933 Session
Volume 421, Page 960   View pdf image (33K)
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960 LAWS OF MARYLAND. [CH. 514

sociations, " be, and the same is hereby repealed and re-
enacted, with amendments, to read as follows:

175. Examination of Domestic Associations. The In-
surance Commissioner, or any person he may appoint, shall
have the power of visitation and examination into the af-
fairs of any domestic association. He may employ assist-
ants for the purpose of such examination, and he, or any
person he may appoint, shall have free access to all the
books, papers and documents that relate to the business of
the association, and may summon and qualify as witnesses
under oath and examine its officers, agents and employees
or other person in relation to the affairs, transactions and
conditions of the association.

The expense of such examination shall be paid by the
association examined, upon statement furnished by the
Insurance Commissioner, and the examination shall be
made at least once in three years. Whenever after ex-
amination the Insurance Commissioner is satisfied that any
domestic association has failed to comply with any provi-
sions of this Article, or is exceeding its powers, or is not
carrying out its contracts in good faith, or is transacting
business fraudulently, or wherever any domestic associa-
tion after the existence of one year or more shall have a
membership of less than 400 (or shall determine to dis-
continue business), the Insurance Commissioner may pre-
sent the facts relating thereto to the Attorney General who
shall, if he deem the circumstances warrant, commence an
action in quo warranto in a court of competent jurisdic-
tion, and such court shall thereupon notify the officers of
such association of a hearing; and if it shall then appear
that such association should be closed, said association shall
be enjoined from carrying on any further business, and a
receiver shall be appointed, in the manner authorized by
Section 51 and Section 51A of this Article.

SEC. 2. And be it further enacted, That this Act shall
take effect on June 1st, 1933.

Approved April 21, 1933.

CHAPTER 514.

AN ACT to repeal and re-enact with amendments Sections
5, 7 and 11 of Chapter 149 of the Acts of 1916, entitled

 

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Session Laws, 1933 Session
Volume 421, Page 960   View pdf image (33K)
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