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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 629   View pdf image (33K)
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ART. 23] STATEMENTS TO INSURANCE COMMISSIONER. 629

States or districts, shall require from each of its agents or collectors in
this State a good and sufficient bond for not less than fifty dollars, and
for failure to do so shall be liable to the penalty prescribed in section
205 and for all damage the public may have sustained by such negli-
gence; provided, that the informant shall receive one-half of the fine
imposed in any conviction under this section.

1904, art. 23, sec. 184. 1888, art. 23, sec. 135. 1860, art. 56, sec. 33. 1858, ch. 432,
sec. 3. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

201. Every insurance company, including individuals, partnerships,
joint stock associations and corporations, conducting any branch of
insurance business in this State, must transmit to the insurance com-
missioner a statement of its condition and business for the year ending
on the preceding thirty-first day of December, which statement shall be
rendered on the first day of January following, or within sixty days
thereafter, (except that foreign companies may transmit their statement
of business, other than that done in the United States, at any time
prior to the following first of July,) which statements must be in the
form and state the particulars required by the blanks prescribed by the
insurance commissioner; and he may require at any time statements
from any company doing business within this State, or from any of its
officers or agents, on such points as he may deem necessary and proper
to elicit a full exhibit of its business and standing; all of which state-
ments herein required must be certified by the signatures and oath of
tht president or vice-president of the company, with that of the secretary
or actuary. No company having neglected to file a statement required
of it within the time and manner prescribed shall do any new business,
after notification by the insurance commissioner, while such neglect
continues; and any company or association neglecting for thirty days to
make and transmit any statement required, shall forfeit one hundred
dollars for each day's neglect; and any person or company wilfully
making a false statement in any report to the insurance commissioner,
shall be liable to the fines imposed by section 205 of this article.

Where the annual statement is submitted to the commissioner in due time,
and subsequently, a license (to be operative until revoked) is issued to the
company on condition that it submit to a personal examination of its affairs,
but no examination was made because when the commissioner was ready to
make the same, the company notified him of its withdrawal from the state
and its license was then revoked, there is no violation of the requirements
of the act of 1878, ch. 106. A revocation of a license does not render void a
contract validly made before such revocation. Lycoming Fire Ins. Co. v.
Langley, 62 Md. 216.

Ibid. sec. 185. 1904, ch, 376, sec. 135 A.

202. The statement or statements required to be made to the
insurance commissioner under section 201 of this article may, for the
year ending December 31, 1903, be transmitted on or before July
1. 1904, in lieu of the time or times provided in said section 201
of this article, and the insurance commissioner shall not be required to
publish abstracts of the said statement or statements as required by

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 629   View pdf image (33K)
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