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ity companies. Such companies must file with the State Tax Com-
mission certified copies of their certificate of incorporation, written
applications to be authorized to do business, and annually there-
after statements verified under oath, in which are set forth the
amount of their paid-up capitals, particularizing each item of invest-
ment, the amount of premiums upon existing bonds, undertakings,
recognizances and obligations of like character in force upon which
they are surety, the amount of liability for unearned portion thereof
estimated at the rate of 50 per centum of the current annual pre-
miums on each bond, undertaking, recognizances and obligations in
force, also the amount of their outstanding obligations of all kinds,
and such further facts as may be by the laws of this State required
of such companies in transacting business herein.

Practically all of the information which is required to be filed
with the State Tax Commission is also filed with the Insurance
Commissioner of the State of Maryland, who exercises powers of
investigation and control over such corporations. There is no duty
or power on the part of this Commission to make an investigation
as to the condition of any companies filing reports with it, and
the mere filing of such reports requires that certificates be issued
by this department. As the Commission has no duties or functions
to perform in respect to such corporations, it sees no reason for
the requirement of the filing of a report or any reason why the
validity of bonds may be questioned because of failure to file reports.

The sections relating to reports with the State Tax Commission
should be amended and the Insurance Commissioner substituted for
the State Tax Commission.

FOREIGN CORPORATIONS

Article 23, Section 93, et seq. of the Code of Public General
Laws, provide that foreign corporations with a usual office and
those with a regular place of business in this State shall file certified
copies of their charters or certificates of incorporation, together
with lists of resident shareholders and other information as may be
Squired before beginning business in this State. In addition, they
are required to file applications annually setting forth certain infor-