1868 ARTICLE 48A.

vote of two-thirds of the members of the supreme legislative or governing
body of each of said associations.

Upon the submission of said contract, financial statement's and certifi-
cates, 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 the said contract or merger or transfer shall be in 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.

1922, ch. 492, sec. 158.

161. Annual License. Associations which are now authorized to trans-
act business in this State may continue such business until the first day
of January, 1923, and the authority of such associations 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 specifically 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 meaning of this Article.

1922, ch. 492, sec. 159.

162. Admission of Foreign Associations. No foreign association now
transacting business organized prior to the passage of this Act 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 certi-
fied by its secretary or corresponding officers; a power of attorney to the
Commissioner as hereinafter provided; a statement of its business under
oath of its president and secretary, or corresponding officers in the form
required by the Commissioner, duly verified by an examination made by
the supervising insurance official of its home State or other State satis-
factory to the Insurance Commissioner of this State; a certificate from
the proper official in its home State, province or country, that the associa-
tion is legally organized; a copy of the contract, which must show that
benefits are provided for by periodical or other payments by persons hold-
ing similar contracts; and upon furnishing the Commissioner such other
information as he may deem necessary to a proper exhibit of its business
and plan of working, and upon showing that its assets are invested in
accordance with the laws of the State, territory, district, province or coun-
try where it is organized, he shall issue a license to such association to do
business in this State until the first day of the succeeding January, and