ART. 23] PUBLICATION OF STATEMENT——INSURANCE BROKER. 635

1904, art. 23, sec. 198. 1892, ch. 537. 1894, ch. 473, sec. 143.*

215. Every insurance company doing business in any of the coun-
ties of this State shall, during the month of April of each and every
year, publish in at least one newspaper published in each of said coun-
ties, for three consecutive weeks, an abstract of the annual statement
as required by this article; provided that such publication shall not be
required of mutual insurance companies formed under any general or
special law of this State which annually send a full and detailed state-
ment of the affairs and business of said companies to all of their respec-
tive policy holders and to the state insurance commissioner.

1906, ch. 273. 1908, ch. 396.

216. No life insurance company authorized to transact business in
this State shall hereafter issue to or upon the life of any resident of
this State any policy participating in the profits or surplus, under which
the accounting, apportionment and distribution of surplus to the policy
holder shall be delayed for a longer period than five years from the date
at which the insurance first went into effect, or from any preceding
accounting, apportionment or distribution of surplus.

No life insurance company incorporated under the laws of Maryland,
or incorporated elsewhere and doing business in said State shall be
permitted to enter into any agreement with any policy holder or
applicant for insurance, intended as a waiver of any of the provisions
of sections 216 and 217, and it shall be the duty of the insurance com-
missioner to revoke the authority of any such corporation to transact
business in this State, for failure to comply with any of the require-
ments of said sections.

1908, ch. 396.

217. The foregoing section shall not apply to policies written on
under-average risks, but such under-average insurance may be written
upon such terms as the parties may agree upon and the surplus may be
apportioned and dividends declared and paid annually, or at longer
intervals in the manner and proportions, and among the parties entitled
thereto under the terms of their renewal contracts with the corporation.

Insurance Broker.

1904, art 23, sec. 199. 1894, ch. 377. 1900, ch. 740, sec. 143 A.

218. All licenses for the purpose of conducting the occupation or
business of an insurance broker shall be granted by the insurance com-
missioner of the State of Maryland, and all such licenses granted by
said commissioner shall expire on the first day of May thereafter.
Whoever, for compensation, acts or aids in any manner in negotiating
contracts of insurance or re-insurance, or placing risks or effecting
insurance or re-insurance for a person other than himself, and not being
duly appointed solicitor, agent or officer of the company in which such

*Should have been called 142 c.