2138 ARTICLE 48A

An. Code, 1924, sec. 86. 1922, ch. 492, sec. 83.

114. (Insurance for Wife's Sole Use.) Any married woman by herself
and in her name, or in the name of any other person, with his assent, as
her trustee, may insure in any life insurance company formed under the
provisions of this article, for her sole use, the life of her husband for any
definite period or for the term of his natural life; and in case she shall
survive her husband, the sum or net amount of the insurance becoming
due and payable by the terms of the policy shall be payable to her and for
her own use, free from the claims of the representatives of the husband or
of any of his creditors; and in case of the death of the wife before the
decease of the husband, the amount of the insurance may be made payable,
after death, to her children for their use, and to their guardian if under
age.
See art. 45, sec. 8, et seq.

An. Code, 1924, sec. 87. 1922, ch. 492, sec. 84.

115. (Misrepresentation in Application.) Whenever the application
for a policy of life insurance contains a clause of warranty of the truth of
the answers therein contained, no misrepresentation or untrue statement
in such application, made in good faith by the applicant, shall effect a
forfeiture or be a ground of defense in any suit brought upon any policy
of insurance issued upon the faith of such application, unless such mis-
representation or untrue statement relates to some matter material to
the risk.

Matter of misrepresentation in case involved should have been left to the jury and
failure to do so required reversal and new trial. Schloss v. Life Ins. Co., Daily Record,
Dec. 8, 1939.

Cited but not construed in Mut. Life Ins. Co. v. Held, 157 Md. 558.

An. Code, 1924, sec. 88. 1922, ch. 492, sec. 85.

116. (Misstatement of Age in Application.) Whenever it shall be made
to appear that a wrong age has been given in good faith in any application
for a policy of life insurance, the company shall not be required to pay the
face value of the policy, but such sum as the premium paid would have
purchased at the applicant's real age at the time of effecting the insurance.

An. Code, 1924, sec. 89. 1922, ch. 492, sec. 86.

117. (Postponement of Dividends on Policies.) No life insurance com-
pany authorized to transact business in this state shall hereafter issue to
or upon the life of any resident of this state any policy participating in
the profits or surplus, under which the accounting, apportionment and dis-
tribution of surplus to the policyholders shall be delayed for a longer
period than five years from the date at which the insurance first went into
effect, or from any preceding accounting, apportionment or distribution
of surplus.

No such company shall be permitted to enter into any agreement with
any policyholder or applicant for insurance, intended as a waiver of any
of the provisions of this section, and it shall be the duty of the commis-
sioner to revoke the authority of any such company to transact business
in this state, for failure to comply with any of the requirements of this
section.