1842 ARTICLE 48A.

the business of health insurance, or assuming the payment of money or
providing other benefits on account of and during disability from sick-
ness or accident in this state, shall have and constantly maintain, over
and above its capital stock and other liabilities and reserves required,
and as a special security for the payment of such benefits, cash or invest-
ments such as are prescribed for the reserve fund of life insurance com-
panies, equal in amount, if the premiums for such benefits are payable
monthly or at shorter intervals, to at least one twelfth part of the total
premiums or contributions payable during the year for and on account
of such disability insurance or sick or accident benefits; and if the pre-
miums for such insurance are payable annually or at intervals longer than
one month, then the sum to be maintained shall be the amount of the
unearned premium calculated proportionately for the unexpired term of
the insurance in the manner provided in this article for calculating the
reinsurance reserve of fire insurance companies.

1922, ch. 492, sec. 100.

103. Bonds Required of Industrial Agents. Every industrial life,
accident or health insurance company doing business in this state, shall
require from each of its agents or collectors in this State a good and suffi-
cient bond for not less than fifty dollars. Failure to require such bond
shall, in each and every case, be deemed to be a misdemeanor, and upon
conviction, the company so adjudged to be guilty shall, for each such
offense, be subject to the penalties specified in section 53, and in addi-
tion thereto, be liable for any damage the public may have sustained by
reason of such failure. The informant shall receive one-half of any fines
imposed under this section.

Surety, Casualty, Liability and Compensation Insurance.

1922, ch. 492, sec. 101.

104. Corporate Surety Bonds Authorized. Whenever any bond, under-
taking, recognizance or other obligation is by law, or the charter, ordinances,
rules or regulations of any municipality, board, body, organization, court,
judge or public officer, required or permitted to be made, given, tendered
or filed with surety or sureties, and whenever the performance of any act,
duty or obligation, or the refraining, from any act, is required or per-
mitted to be guaranteed, such bond, undertaking, obligation, recognizance
or guaranty may be executed by a surety company qualified as hereinafter
provided; and such execution by such company of such bond, undertaking,
obligation, recognizance or guaranty shall be in all respects a full and
complete compliance with every requirement of every law, charter, ordi-
nance, rule or regulation that such bond, undertaking, obligation, recog-
nizance or guaranty shall be executed by one surety or by one or more
sureties, or that .such sureties shall be residents or householders or free-
holders, or either or both, or possess any other qualification; and all courts,
judges, heads of departments, boards, bodies, municipalities and public
officers of every character, shall accept and treat such bond, undertaking,