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
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1963
Volume 671, Page 989   View pdf image (33K)
 Jump to  
clear space clear space clear space white space

J. MILLARD TAWES, Governor                      991

(ii) The grounds on which based.

(iii) The provisions of this article pursuant to which action is so
taken or proposed to be taken; but failure to so designate a particular
provision shall not deprive the Commissioner of the right to rely-

(3) An order or notice may be given by delivery to the person to
be ordered or notified or by mailing it, postage prepaid, addressed to
him at his principal place of business as last of record in the Com-
missioner's office.

30.    Examination of Insurers.

(1)   The Commissioner shall examine the affairs, transactions, ac-
counts, records, and assets of each authorized insurer, management
company or owned or controlled subsidiary of such insurer, and each
rating organization, as often as he deems advisable. He shall so ex-
amine each domestic insurer not less frequently than every four (4)
years. Examination of an alien insurer may be limited to its insur-
ance transactions and affairs in the United States. Examination of a
reciprocal insurer may also include examination of its attorney-in-fact
insofar as the transactions of the attorney-in-fact relate to the in-

(2)   The Commissioner shall in like manner examine each insurer
or rating organization applying for an initial certificate of authority
to do business in this State.

(3)   In lieu of making his own examination, the Commissioner
may, in his discretion, accept a full report of the last recent examina-
tion of a foreign or alien insurer, OR RATING ORGANIZATIONS,
certified to by the insurance supervisory official of another state,
territory, commonwealth, or district of the United States.

31.    Examination of Agents, Managers, Promoters.

For the purpose of ascertaining compliance with this article, the
Commissioner may as often as he deems advisable examine the ac-
counts, records, documents, and transactions, pertaining to or affect-
ing its insurance affairs or proposed insurance affairs, of:

(1)   Any insurance agent, broker, solicitor, surplus line broker,
general agent, adjuster, public adjuster, or adviser.

(2)   Any person having a contract under which he enjoys in fact
the exclusive or dominant right to manage or control an insurer.

(3)   Any person holding the shares of voting stock or policyholder
proxies of a domestic insurer, for the purpose of controlling the
management thereof, as voting trustee or otherwise.

(4)   Any person engaged in or proposing to be engaged in or as-
sisting in the promotion or formation of a domestic insurer or insur-
ance holding corporation, or corporation to finance a domestic insurer
or the production of its business.

32.    Conduct of Examination; Records; Correction of Accounts;

(1) The Commissioner shall conduct any such examination at the
home office (if a domestic or foreign insurer) or United States branch


clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1963
Volume 671, Page 989   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 11, 2023
Maryland State Archives