1826 ARTICLE 48A.

1922, ch. 492, sec. 64.

66. Insurance Broker. All licenses for the purpose of conducting the
occupation or business of insurance broker or broker's solicitor shall be
granted by the State Insurance Commissioner of Maryland, and all such
licenses granted by said Commissioner shall expire on the 1st day of May
thereafter. Whoever, for compensation, acts' or aids in any manner in
negotiating contracts of insurance or reinsurance or placing risks or effect-
ing insurance or reinsurance for a person other than himself, and -not
being a duly appointed solicitor, agent or officer of the company in which
such insurance or reinsurance is effected, and not being a duly licensed and
qualified broker's solicitor as defined in, and in conformity with, the pro-
visions of section 69 of this article, shall be deemed an insurance broker.

1924, ch. 561.

67. Before a license to operate in this State shall be granted to any
insurance broker by the Insurance Commissioner or his Deputy, the
applicant for such license of insurance broker shall file with the Insurance
Commissioner, a bond, to be executed by a surety company authorized to
do business in this State, to the State of Maryland in the penalty of $500.00
if such applicant resides in one of the counties of this State, and his appli-
cation is for a license to act as insurance broker as to risks situated in
the county only in which he resides, and in all other instances in the penalty
of $1,000.00, conditioned that he will truly account for and pay over to the
person or corporation entitled to receive the same, all money belonging
to such pers,on or corporation which may come into his hands as insurance
broker. Whenever any broker makes delivery of any policy or policies of
insurance to the assured and receives from the assured the premium or
premiums due thereon, and fails or neglects to pay said premium or pre-
miums to the insurance company, mutual company or association, partner-
ship, Lloyd's, individual underwriters or reciprocal association issuing
such policy or policies, his bond may be put in suit at the instance of
the insurance company, mutual company or association, partnership,
Lloyd's, individual underwriters or reciprocal association issuing such
policy or policies, for the collection of said premium or premiums, and no
insurance policy shall be subject to cancellation for nonpayment of premium,
in case the premium due on said policy has been paid to the broker
delivering said policy to the assured.

1922, ch. 492, sec. 65. 1924, ch. 158.

68. Broker's License. Any natural person, bona fide copartnership,
or corporation whose charter provisions authorize it to engage in the busi-
ness of an insurance broker applying therefor as hereinafter set forth, and
paying to the Insurance Commissioner the sum of one hundred dollars
for the use of the State, and an additional sum of one dollar as a fee to the
said Commissioner for issuing said license, may obtain a license for
carrying on the business of an insurance broker; provided, however, that
any natural person, bona fide copartnership, or corporation as aforesaid
residing in any of the counties of this State, may, upon payment of a fee