868 LAWS OF MARYLAND. [CH. 400

000.00, whichever is the greater, where the attorney is ex-
changing contracts covering liability or workmen's compensa-
tion insurance, the subscribers shall make up the deficiency.
Whenever such, assets are less than the amount required above,
or less than $50,000.00, whichever is the greater, if the attor-
ney is exchanging contracts other, than those covering liability
and workmen's compensation insurance, the subscribers shall
make up the deficiency.

154AG. Such attorney shall, within the time limited for
filing the annual report by insurance companies transacting the
same kind of business, make a report to the Insurance Com-
missioner for each calendar year, showing the financial condi-
tion of affairs at the office where such contracts are issued, and
shall furnish such additional information and reports as may
be required to show the total premium or deposits collected, the
total losses paid, the total amounts returned to subscribers and
the amounts retained for expenses. Provided, however, that
such attorney, shall not be required to furnish the names and
addresses of any subscribers. The business, affairs, records and
assets of such organization shall be subject to examination by
the Insurance Commissioner at the expense of the organization
examined.

154AH. Any corporation now or hereafter organized under
the laws of this State, shall, in addition to the rights, powers
and franchises specified in its Articles of Incorporation, have
full power and authority to exchange contracts of the kind and
character herein mentioned. The right to exchange such con-
tracts is hereby declared to be incidental to the purposes for
which such corporations are organized and as much granted as
the rights and powers expressly conferred.

154AI. Any attorney who shall exchange any contracts of
indemnity of the kind and character specified in this Act, or
any attorney, agent or any person representing him, who shall
solicit or negotiate any application for same without the attor-
ney first complying with the foregoing provisions, shall be
deemed guilty of a misdemeanor, and on conviction thereof,
shall be subject to a fine of not less than one hundred dollars,
nor more than one thousand dollars. For the purpose of or-
ganization and upon issuance of permit by the Insurance Com-
missioner, powers of attorney and applications may be solic-
ited without license, but no attorney, agent or other person
shall make any contracts of indemnity until he shall comply
with all the provisions of this Act.