242 CORPORATIONS. [ART. 23

each of said associations by its president and secretary, or correspond-
ing officers, and a certificate of such officers, duly verified under oath
of said officers of each of the contracting associations, that such merger
or transfer has been approved by a vote of two-thirds of the members
of the supreme legislative or governing body of each of said associa-
tions. Upon the submission of said contract, financial statements and
certificates, the Insurance Commissioner shall examine the same, and,
if he shall find such financial statements to be correct and the said
contract to be in conformity with the provisions of this section, and
that such merger or transfer is just and equitable to the members of
each of said associations, he shall approve said merger or transfer, issue
his certificate to that effect and thereupon thei said contract of merger
or transfer shall be of full force and effect.

In case such contract is not approved, the fact of its submission and
its contents shall not be disclosed by the Insurance Commissioner.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec. 15A.

243. (Annual License.) Associations which are now authorized
to transact business in this State may continue such business until the
first day of January, 1913, and the authority of such association may
thereafter be renewed annually, but in all cases to terminate on the first
day of the succeeding January; provided, however, that license shall
continue in full force and effect until the new license be issued or spe-
cifically refused. For each such license or renewal the association
shall pay the Insurance Commissioner twenty-five dollars. A duly
certified copy or duplicate of such license shall be prima facie evidence
that the licensee is a Fraternal Beneficiary association within the mean-
ing of this sub-title.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec 16A.

244. (Admission of Foreign Associations.) No foreign association
now transacting business organized prior to the passage of this sub-
title, which is not now authorized to transact business in this State,
shall transact any business herein without a license from the Insurance
Commissioner. Any such association shall be entitled to a license to
transact business within this State upon filing with the commissioner
a duly certified copy of its charter or articles of association; a copy of
its constitution and laws, certified by its secretary or corresponding
officer; a power of attorney to the commissioner as hereinafter pro-
vided ; a statement of its business under oath of its president and sec-
retary, or corresponding officers, in the form required by the commis-
sioner, duly verified by an examination made by the supervising insur-
ance official of its home State or other States satisfactory to the Insur-
ance Commissioner of this State; a certificate from the proper official