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ART. XXIII] INSURANCE DEPARTMENT. 145
all outstanding policies as required by law, over and above all other
bona fide debts and claims against it; and provided, further, that no
such company having a paid-up capital stock less than fifty thousand
dollars ($50,000.00) shall issue any certificate or other form of con-
tract for the payment of money in the aggregate of a greater sum than
five hundred dollars ($500.00) upon the termination of any one life
or combination of lives, or a greater sum. than seventy-five dollars
($75.00) annually, or the equivalent thereof, upon any contract of
annuity or during sickness or disability. And provided, further, that
any company organized prior to January first, 1914, and now doing
business in this State, which has a paid-up capital stock of fifty thou-
sand dollars ($50,000.00), or has on deposit with the Insurance Com-
missioner of this State securities as above described amounting to fifty
thousand dollars ($50,000.00), shall be authorized to issue certificates
or policies up to, but not in excess of one thousand dollars ($1,000),
on any one life or combination of lives.
And every such organization, foreign, of another State, or domestic,
conducting the business of health insurance, or assuming the payment
of money or providing other benefits on account of and during disa-
bility from sickness or accident, in this State, shall have and constantly
maintain, over and above its capital stock and other liabilities and re-
serves required, and as a special security for the payment of such
benefits a sum of money either in cash or in investments such as are
prescribed for the reserve fund of life insurance companies, equal in
amount, if the premiums for such benefits are payable monthly or at
shorter intervals, to at least one-twelfth part of the total premiums or
contributions payable during the year for and on account of such dis-
ability insurance or sick or accident benefits; and if the premiums for
such insurance are payable annually or at intervals longer than one
month, then the sum so to be maintained shall be the amount of the
unearned premium calculated proportionately for the unexpired term
of the insurance in the manner provided in Section 178 of this Article
for calculating the re-insurance reserve of fire insurance companies.
To the second note to this section on page 627 of volume 1 of the code,
add Baltimore v. Williams, 124 Md. 514.
1904, art. 23, sec. 177. 1898. ch. 468, sec. 128A. 1916, ch. 275.
197. Any agent, collector, physician, assured or other person who
shall make, present or cause to be presented to any company, associa-
tion or organization, as defined or referred to in Section 192, Section
193 or Section 229 of this Article, any false, dishonest or fraudulent
certificate or report of death, sickness or disability of any kind or nature,
or any false, dishonest or fraudulent claim for any death, sick or dis-
ability benefit, or claim for payment to or against any such company;
or any agent or collector who shall falsely represent or pretend to repre-
sent any such company, association or organization, or who shall collect
or attempt to collect any premiums or monies or do any business of
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