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Session Laws, 1902 Session
Volume 476, Page 4   View pdf image (33K)
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LAWS OF MARYLAND.

CHAP. 1.

business, until such company shall have obtained first from the
Insurance Commissioner of Maryland a license of authority
for that purpose.
Section 126 D. That such license shall be issued by the

When Issued

Insurance Commissioner to the company, corporation or
association entitled to the same annually on the 31st day of
January, for the period of one year upon the payment of the
license fee hereinafter mentioned.
Section 126 E. That each company, corporation or associa-

Pay for
License.

tion chartered or organized as aforesaid upon applying for
said license shall pay to the Insurance Commissioner the sum
of fifteen hundred dollars for the same; or if the application
be made subsequent to the beginning of a license year, then a
pro rata proportion of the said sum uf fifteen hundred dollars.
Section 126 F. That any such com pan v. corporation or
association failing to comply with the requirements of this

Penalty.

Act before engaging in any of the classes of insurance
herein mentioned, shall be subject to the penalties imposed in
section 127 of the Code of Public General Laws of Maryland,
Article 23, as amended by chapter 258 of the Acts of 189-1,
and the issuing of each policy of insurance without compli-
ance herewith, shall be deemed a separate offense.
Section 126 G. That no license fee shall be hereafter required

No license fee
required.

of or collected from any company, corporution or association
chartered, incorporated or organized under the laws of any of
the States of the United States other than the State of
Maryland, or under the laws of the District of Columbia or
of any of the territories belonging to the United States as a
condition of granting to such company, corporation or associ-
ation a license to carry on any of the classes of insurance
business known as surety, liability, fidelity, accident, boiler,
plate glass, health, burglary, sprinkle leakage, credit indemnity,
or casualty insurance ; provided, however, that this Act shall not
be construed to relieve any insurance company, corporation or
association of any kind whatsoever, of or from the obligation
to pay the tax upon its premiums mentioned in said chapter
258 of Acts 1894, or any other tax or charge now imposed
by law, saving and except the license fee heretofore charged

Proviso.

for carrying on said business; provided further, that when by
the laws of any other State, territory or District of Columbia
incorporating the company of the character described in
section 126C of this Act, a license fee is required to be paid
by the like company, corporation or association incorporated
in the State of Maryland, then in such case the Insurance
Commissioner of the State of Maryland shall require of such
non-resident company the same license fee, if any there be, as



 

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Session Laws, 1902 Session
Volume 476, Page 4   View pdf image (33K)
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