1000                           LAWS OF MARYLAND                      [CH. 553

article, an insurer shall possess and thereafter maintain paid-in
capital stock in an amount not less than as applicable under the
following schedule:

Kind or Kinds of Insurance                                    Minimum Capital

Business                                                  Stock Required

(a)   Life, including annuities AND HEALTH..........................$100,000,00

$200,000.00

(b)   Health ..................................................................................................................... 100,000.00

(c)   Property and Marine other than wet marine and
transportation ............................................................................................. 100,000.00

(d)   Title ......................................................................................................................... 100,000.00

(e)   Wet Marine and transportation..................................................... 200,000.00

(f)   Casualty (Not including (g) and (h))................................... 200,000.00

(g)   Vehicle liability ............................................................................................ 200,000.00

(h) Workmen's Compensation.................................................................... 200,000.00

(i) Surety ..................................................................................................................... 200,000.00

(2) To qualify for authority to engage in two or more of the kinds
of the insurance business stated in the schedule above an insurer
shall possess paid-in capital stock in an amount of not less than the
combined sum of the capital requirements by adding the amount of
capital stock required for each of the kinds of insurance business to
be authorized, or $375,000, whichever is less.

49.    Surplus Required.

(1)   In addition to the minimum capital stock required by section
48, no insurer shall be granted an original certificate of author-
ity to engage in a particular kind or combination of kinds of insur-
ance business unless it has surplus assets or funds in an amount
equal to not less than one hundred per cent of such minimum capital
stock.

(2)   For purposes of this article and for authority to continue in
the insurance business, in addition to the capital stock required by
Section 48, every insurer must maintain surplus assets or funds in
an amount of not less than one-half of such minimum capital stock.

50.    Deposit Requirements.

The Commissioner shall not issue a certificate of authority to any
insurer unless it has deposited and maintains in trust with the State
Treasurer, for the protection of its policyholders or its policyholders
and creditors, cash or government securities eligible for the invest-
ment of capital funds of domestic insurers (of the type described in
section 110) in the amount of not less than one hundred thousand
dollars; except:

(1)   as to foreign insurers in lieu of such deposit or part thereof
with the State Treasurer, the Commissioner shall accept the current
certificate of the state insurance supervisory official of any other state
that a like deposit by such insurer is being maintained in public
custody or in a depository approved by such supervisory official in
such state in trust for the purpose of protection of all policyholders
or policyholders and creditors of such insurer in the United States.

(2)   as to alien insurers in lieu of such deposit or part thereof with
the State Treasurer, the Commissioner shall accept evidence satisfac-
tory to him that the insurer maintains within the United States in pub-