Ch. 685                                    1997 LAWS OF MARYLAND

338.

(a) Every society transacting business in this State shall file an annual statement
as provided in Section 58 of this article[, and pay a fee of twenty-five dollars ($25) for
filing same].

341.

(a) The Commissioner, or any person he may appoint, shall have the power of
visitation and examination into the affairs of any domestic society and he shall make such
examination at least once in every three (3) years. He may employ assistants for the
purpose of such examination, and he, or any person he may appoint, shall have free access
to all books, papers and documents that relate to the business of the society.

(b) In making any such examination the Commissioner may summon and qualify
as witnesses under oath and examine its officers, agents and employees or other persons
in relation to the affairs, transactions and condition of the society.

(c) A summary of the report of the Commissioner and such recommendations or
statements of the Commissioner as may accompany such report shall be read at the first
meeting of the board of directors or corresponding body of the society following the
receipt thereof, and if directed so to do by the Commissioner, shall also be read at the
first meeting of the supreme legislative or governing body of the society following the
receipt thereof, A copy of the report, recommendations and statements of the
Commissioner shall be furnished by the society to each member of such board of directors
or other governing body.

[(d) The expense of each examination and of each valuation, including
compensation and actual expense of examiners, shall be paid by the society examined or
whose certificates are valued, upon statements furnished by the Commissioner.]

342.

The Commissioner, or any person whom he may appoint, may examine any foreign
or alien society transacting or applying for admission to transact business in this State. He
may employ assistants and he, or any person he may appoint shall have free access to all
books, papers and documents that relate to the business of the society. He may in his
discretion accept, in lieu of such examination, the examination of the insurance
department of the state, territory, district, province or country where such society is
organized. [The compensation and actual expenses of the examiners making any
examination or general or special valuation shall be paid by the society examined or by
the society whose certificate obligations have been valued, upon statements furnished by
the Commissioner.]

344.

[Every] EXCEPT AS PROVIDED IN SUBTITLE 2 OF THIS ARTICLE, EVERY society
organized or licensed under this subtitle is hereby declared to be a charitable and
benevolent institution, and all of its funds shall be exempt from all and every State,
county, district, municipal and school tax other than taxes on real estate and office
equipment.

- 3950 -