WM. PRESTON LANE? JR., GOVERNOR. 1131
CHAPTER 462
(Senate Bill 346)

AN ACT to repeal and re-enact, with amendments, Sec-
tions 17 and 18 of Article 101 of the Annotated Code of
Maryland (1947 Supplement), title "Workmen's Com-
pensation, " sub-title "Corporate Insurance, " relating to
the providing of workmen's compensation insurance by
corporations.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Sections 17 and 18 of Article 101 of the Annotated
Code of Maryland (1947 Supplement), title "Workmen's
Compensation, " sub-title "Corporate Insurance, " be and
they are hereby repealed and re-enacted, with amendments,
to read as follows:

17. Every policy for the insurance of the compensation
herein provided for, or against liability therefor, shall be
deemed to be made subject to the provisions of this Article.
No company or association shall enter into any such policy
of insurance until such company or association shall first
obtain from the Insurance Commissioner of Maryland a
license of authority for the purpose, and until the form of
such policy shall have been approved by the State Indus-
trial Accident Commission. The said Insurance Commis-
sioner shall have full power and authority from time to
time to determine the adequacy of its or their premium
rates for carrying compensation insurance as provided in
this law; and said Insurance Commissioner shall have full
power and authority to require said insurance companies
to establish and maintain adequate rates to cover respec-
tive risks to which their policies are applicable under the
provisions of this Article. Any insurance company desir-
ing to do compensation insurance in this State, or any
employer carrying his own insurance, shall be required to
keep and maintain a local office in charge of a compe-
tent person who shall handle all the compensation work
for said insurance company or self-insurer. Any per-
son, firm, corporation, insurance company, association and
self-insurer violating the provisions of this section shall
be subject to a fine of not less than $500 nor more than
$1, 000, for each offense, and upon conviction thereof the
Insurance Commissioner may revoke the license of au-
thority for doing business in this State of such person,
corporation, firm, insurance company and association and
the State Industrial Accident Commission may prohibit
such self-insurer from carrying its own insurance.