622 CORPORATIONS. [ART. 23

or chief financial officer of the State in which such company is organ-
ized, or of some one of the United States, setting forth that such com-
pany has deposited with him the sum of one hundred thousand dollars
of its capital or assets, in gold coin of the United States, or invested in
notes or bonds of the United States, or in bonds of the State of Mary-
land, or of the State in which said company is organized, or in bonds
secured by mortgage or deeds of trust on unincumbered real estate,
worth at least double the amount loaned thereon, and that he holds the
same in trust and on deposit, under and by the laws of the State in
which he resides, for the benefit of all the policy holders of such com-
pany in the United States, and that he is satisfied that the securities so
deposited by such company, and held by him, are worth at least one
hundred thousand dollars; provided, that every such company not hav-
ing such deposit made in the State in which it is organized, or in
some one of the United States, may make such deposit with the treas-
urer of Maryland, in the manner provided by law for companies
organized under the laws of this State.

1904, art. 23, sec. 167. 1888, art. 23, sec. 126. 1860, art. 56, sec. 31. 1858, ch. 432,

sec. 6. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

1880, ch. 387. 1890, ch. 545. 1894, ch. 290.

1902, ch. 250. 1910, ch. 734 (p. 77).

184. No person shall act as agent or solicitor in this State for any
insurance company, including individuals, whether residents or non-
residents, partnership or joint-stock association, except for such com-
panies as may be chartered under the laws of this State, in any manner
whatever relating to insurance risks, until all the provisions of this
article relating thereto have been complied with and there has been
granted by the insurance commissioner a certificate of authority or
license, for which said' company, individual, resident or non-resident,
association or their agent shall pay to the insurance commissioner the
sum of three hundred dollars and shall also pay to the insurance com-
missioner a tax of one and one-half per centum on the amount of pre-
miums actually collected, received or secured in this State, or from resi-
dents thereof, during the last license year by or for said company,
individual, resident or non-resident, partnership or association, and
without any deduction for expenses or endowments which may have been
paid, or for any other cause whatsoever, which rate shall not be
increased or diminished by reason of any greater or less rate being
chargeable under the laws of any other State or territory. A report of
the premiums so collected as above must be made to the insurance com-
missioner under oath of the chief accountant officer of such company,
or its general agent of this State, at the time of obtaining the license
hereinabove provided for. Any company applying for admission in
this State shall pay for license in like proportion for a fractional part
of a year, so that all licenses issued shall expire on the thirty-first day
of December next ensuing. In addition to the above license and tax,
there shall be paid by each insurance company, individual, resident
. or non-resident, partnership or association, whether of this State or