1236 LAWS OF MARYLAND. [CH. 597

nually or at such other times as the Commission may deem
necessary or advisable and may examine such employer under
oath or make such other examination of his business as the
Commission may determine. If he should fail to furnish such
satisfactory proof, or give bond, or deposit such securities as
required by the Commission, or if he should at any time fail
to render satisfactory reports to the Commission or otherwise
satisfy the Commission of his continued financial ability to
pay the compensation himself, he shall be subject to the provi-
sions of the first paragraph of this Section of this Act and
shall be required by the Commission to insure as provided in
the first paragraph of said this Section, unless he, at once,
insure voluntarily as provided in the second paragraph of this
Section.

Any employer, subject to the provisions of this Act, who,
after November first, nineteen hundred and fourteen, fails or
refuses to submit to said Commission, as provided in the next
succeeding paragraphs, the method he desires to adopt for
assuring compensation, or who shall fail to secure insurance
by one of such methods, shall be guilty of a misdemeanor,
and shall be subject to a fine of not less than five hundred nor
more than five thousand dollars. The Court may, in its dis-
cretion, remit any such penalty, provided the employer in
default assures the compensation as provided in this section;
and provided further that he has paid or secured to be paid
any compensation or other benefits under this Act which may
have been awarded against him.

Section 16. The State Industrial Accident Commission is
hereby authorized and directed to create and establish a fund
to be known as the "State Accident Fund, " for the purpose of
insuring employers against liability under this Act and to their
employes and their dependents the payment of the compensa-
tion specified in this Act. Such fund shall consist of all pre-
miums or taxes received and paid into the fund and of prop-
erty and securities acquired and interest earned through the
use of moneys belonging to the fund. Said fund shall be ad-
ministered by the Commission and shall be applicable to the
payment of losses sustained on account of insurance and to the
payment of expenses in the manner provided in this Act.

Section 17. For the purpose of creating such State Acci-
dent Fund each employer insured in this Fund or required
to be insured therein by this Act shall pay into the State Treas-
ury the premiums of liability based upon and being such per-