clear space clear space clear space white space
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1914
Volume 533, Page 1080   View pdf image (33K)
 Jump to  
clear space clear space clear space white space


determined by a consideration of the facts and circumstances of
each particular claim, the amount so set aside as a reserve to be
reasonably sufficient to cover the probable expenses and pay-
ments in each case. The reserves for claims of the classes men-
tioned in this sub-Section (Thirteenth) shall be first estimated
and set aside by each such corporation, and may be inquired
into and verified by the Insurance Commissioner, or any
deputy, examiner, or assistant from his office, during any regu-
lar examination of said corporation, and, if found to be inade-
quate, the said corporation may be required to set aside such
reserves on claims mentioned in this Section as may in the ag-
gregate be deemed reasonably and fairly sufficient by the Insur-
ance Commissioner.

Fourteenth: On all policies of casualty insurance and bonds
in force and written for one year or less there shall be main-
tained a premium reserve of fifty per centum of the current
year's premium. On all such policies and bonds in force and
written for more than one year there shall be maintained a pre-
mium reserve of fifty per centum of the current year's pre-
mium, plus the whole of the premium for subsequent years. If
the premium for the entire term is paid in one installment the
premium for the current year shall be calculated on a pro rata
basis. Such premium reserves shall be subject to verification
by the Insurance Commissioner during any regular examina-
tion of such corporation.

Fifteenth. Should any corporation incorporated under the
laws of any other State, but authorized by law to do a bonding
and casualty insurance business in this State, fail or
refuse to set aside reserves for premiums and unadjusted
losses, then the Insurance Commissioner of this State is author-
ized and directed to revoke the license of such foreign bonding
or casualty insurance company until this Act is complied with.

SEC. 2. Be it further enacted, That all laws or parts of laws
heretofore enacted, which are or may be in conflict with this
Act or any part thereof, are hereby repealed in so far as they
so conflict.

SEC. 3. And this Act shall take effect from the date of its

Approved April 13th, 1914.


clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1914
Volume 533, Page 1080   View pdf image (33K)
 Jump to  

This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.

Tell Us What You Think About the Maryland State Archives Website!

An Archives of Maryland electronic publication.
For information contact

©Copyright  October 10, 2023
Maryland State Archives