2092

ARTICLE 48A

	119. Insurance or reinstatement of un-	140. Corporate fiduciary shall not act as
	sound person.	surety.
	120. Inadequate rates.	141. Premium reserve.
	121. Misrepresentation of policy.	142. Claim reserves.
	122. Fraud practiced against company.	143. Liability and compensation claim re-
	123. Switching policies.	serves.
	124. Penalty for violation of secs. 121, 122	144. Fidelity, surety and casualty claim
	and 123.	reserves.
	125. Impairment of capital.	145. Revocation of licenses of .foreign- com-
	126. Mutual industrial life insurance com-	panies.
	panies.	146. Impairment of capital stock.
	127. Policy holders of mutual companies
	entitled to vote.	Mutual Insurance Companies.
	128-131. Industrial insurance policies: 132: Conversion of mutual life to stock	147. Mutual companies may assume any risk except life insurance.
	company. 133. Companies converted prior to July 1,	148. Requirements prior to- doing business. 149. Public or private corporations "as
	1916.	members.
	134. Insurance of infants. 135. Bonds required of industrial agents.	150. Membership voting. 151. Premiums.
	136. Payment of insurance not exceeding	152. Investments and deposits.
	$150.00 where decedent leaves no	153. Investments in real and personal
	other property.	property.
		154. Reserves.
	Surety, Casualty, Liability and	155. Assessments.
	Compensation Insurance.	156. Loans for business purposes.
	137. Corporate surety bonds authorized.	157. Admission of .foreign .companies;
	138. Qualifications and surplus.	conditions.
	139. Certificate of authority.	158. Licenses to foreign companies.

186A. This section is no defense to a suit by a broker on an indebtedness for com-
missions on the purchase of the stock of another company, although such indebtedness
is in excess of 5% of the company's total capital stock. Conservation Company v.
Stimpson, 136 Md. 330.

192. Where an organization is incorporated "for social and fraternal beneficial pur-
poses," charges entrance 'fees,'dues and assessments, and pays its members a specific
sum in case of sickness, accident or death, and also maturity benefits, it does an insur-
ance business within the meaning of this section, although it has a lodge system and
ritual. International Fraternal Alliance v. State, 77 Md. 556.

This section referred to in construing art. 23, sec. 213, An. Code, 1912?see notes
thereto (this footnote). Maryland Casualty Co. v. Gehrmann, 96 Md. 648.

Cited but not construed in Barton v. International Fraternal Alliance, 85 Md. 30;
Metropolitan Ins. Co. v. Dempsey, 72 Md. 293.

See notes to secs; 182, 184, 193 and 218 (this footnote).

193. A corporation in reality doing an insurance business cannot evade require-
ments of the insurance laws by incorporating under art. 23, sec. 229, et seq., An. Code,
1912, and pretending to be doing business thereunder. Since such a corporation violated
its charter and the law in issuing policies in excess of $1,000, when it had only deposited
$10,000 with the insurance commissioner, its charter was forfeited. This section con-
strued in connection with said sec. 229, et seq. International Fraternal Alliance v.
State, 86 Md. 556 (decided in 1898).

This section referred to in declaring sec. 122B of the act of 1902, ch. 338, in conflict
with art. 3, sec. 29, of the Md. Constitution, and hence void. Kafka v. Wilkinson, 99
Md. 238; Baltimore v. Williams, 124 Md. 514.

201. Where the annual statement is submitted to the commissioner indue time; and
subsequently, a license (to be operative until revoked) is issued to the company on
condition that it submit to a- personal examination of its affairs, but no examination
was made because when the commissioner was ready to make the same, the company
notified him of its withdrawal from the state and its license was then revoked, there
is no violationof the requirements of the act of 1878, ch. 106. A revocation of a license
does not render void a contract validly made before such revocation. Lycoming Fire
Ins. Co. v. Langley, 62 Md. 216.

203. This section referred to in construing art. 23, secs. 193 and 229, An. Code,
1912?see notes thereto (this footnote and footnote to sec. 180). International Fra-
ternal Alliance v. State, 86 Md. 558.