202 CORPORATIONS. [ART. 25

that no such corporation incorporated under any law of any other State,
district or territory, the United States or any foreign country, shall be
required to make the deposit above set forth with the Treasurer of this.
State if said corporation shall have made with the Insurance Commis-
sioner, Treasurer or other proper officer of any State, district or terri-
tory in the United States, a deposit in the amount as above set forth, of
any securities as shall have been approved by the proper officer where
made, for the benefit of all the holders of policies or guarantees of said
corporation, as above set forth, and a certificate thereof under the hand
and official seal of said proper officer shall have been filed with said
Treasurer; and all other corporations mentioned in section 106, not
transacting as part of their business the security or guarantee business
shall, within six months, from the 2d of April, 1896, and from time to-
time thereafter, if need be, transfer and assign to the said Treasurer,
registered public stock of the United States, or of the State of Maryland,
or of Baltimore City, or the bonds of any county or municipal corpora-
tion of this State which shall be approved by said Treasurer to the
amount in value of fifteen per centum of the paid in capital stock of
such corporation, and said amount shall be at all times maintained by
said corporation, so that the amount of such stock in the bands of said
Treasurer shall at all times be equivalent, at its par value, to fifteen per
centum of the paid up capital stock of such corporation, but not less in
any case than thirty thousand dollars; provided, however, that all other
corporations as aforesaid having a paid in capital stock of one hundred
thousand dollars or less shall be required to transfer and assign to the
said Treasurer registered public stock of the United States or of the
State of Maryland or of Baltimore City or the bonds of any county or
municipal corporation of this State which shall be approved by said
Treasurer to the amount in value of ten per centum of the paid in
capital stock of such corporation and said amount shall be at all times
maintained by said corporation so that the amount of such stock in the
hands of said Treasurer shall at all times be equivalent at its par value
to ten per centum of the paid in capital stock of such corporation but
not less in any case than ten thousand dollars; which stocks must be-
registered in the name of said Treasurer, officially, as held in trust
under and pursuant to this section, and the same shall be held by the-
said Treasurer in trust as security for the depositors with, or creditors
of said corporation; and all of the said stocks so held in trust by the
said Treasurer and deposited by any of the corporations above named,
either transacting the security or any other class of business shall be
held by said Treasurer subject to sale and transfer, and to the applica-
tion of the proceeds of such sale by the said Treasurer only on the order
of any Court of competent jurisdiction, and until the order of such
Court authorizing such sale or transfer, or otherwise to the contrary,
said Treasurer shall pay over to such corporation the interest which
may be received on the said securities, or he may authorize the said
corporation to collect and receive the same for its own benefit. Should