1766                                                LAWS OF MARYLAND                            [Ch. 488

(1)    By insuring and keeping insured the payments
of such compensation in the State Accident Fund, or

(2)    By insuring and keeping insured the payments
of such compensation with any stock corporation or mutual
association authorized to transact the business of
workmen's compensation insurance in this State;

(3)   (a) Any such employer who does not, with the
approval of said Commission, voluntarily insure the
payment of the compensation by one of the methods
designated in the preceding paragraphs of this section,
must furnish satisfactory proof to the Commission of his
financial ability to pay such compensation himself, in
which case the Commission may, at any time and from time
to time in its discretion, require the deposit with the
Commission of securities such as are accepted by the
equity courts of Baltimore City for the investment of
trust funds and in an amount or amounts to be determined
by the Commission, to secure the liability of the
employer to pay the compensation specified in this
article; and the Commission may require such employer to
obtain and file with the Commission a policy of insurance
protecting said employer against liability for workmen's
compensation benefits resulting from a catastrophe or
disaster, other than from an act of war. If required by
the Commission, such policy of insurance shall be in such
amount and shall contain such provisions as in the
judgment of the Commission shall be required to provide
security for the payment of compensation and medical
treatment; and in order to be informed as to the
continued financial responsibility of any such employer
the Commission may require reports from him annually or
at any 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 its
continued financial ability to pay the compensation
himself, he shall be subject to the provisions of the
first paragraph of this section, and shall be required by
the Commission to insure as provided in the first
paragraph of this section, unless he, at once, insures
voluntarily as provided in the second paragraph of this
section.

(b) Any employer, subject to the provisions of
this article, who, after November 1st, 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