ART. 23.] CORPORATIONS—INSURANCE. 321

1868, ch. 471, sec. 100.

116. Every life insurance company incorporated under this
article shall have a guarantee capital of not less than one hun-
dred thousand dollars, which shall be invested either in securities
of the United States, of the State of Maryland, or of the city of

Baltimore, and the same shall, before said company shall com-
mence issuing policies, be deposited in the treasury of this State
as a guarantee for the payment of the policies of insurance issued
by said company; and the said company, from time to time, as it
shall deem proper, may sell and dispose of the said securities, and
exchange and redeposit the same with the said treasurer, under
such rules and regulations for said exchange and redeposit as the
said treasurer shall direct, the said company confining the said
business of sale, disposition and exechange of said securities to
either or all of said securities above named in this section; and
the interest and profits accruing and made on said securities, and
the sale or exchange thereof shall be collected by and paid to said
company.

Ibid. sec. 101.

117. 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 in-
surance becoming due and payable by the terms of the insurance,
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.

Mutual Benefit Life Ins Co. v. Wise, 34 Md 582 Whitridge v. Barry, 42
Md. 140. Knickerbocker Life Ins. Co. v. Peters, 42 Md. 415. Mutual Life
Ins. Co. v. Stibbe, 46 Md. 312. Ellicott v. Bryan, 64 Md. 368.

Ibid. sec. 102.

118. It shall not be lawful for any insurance company incor-
porated under the laws of any other State of the United States,
or by any foreign government, directly or indirectly, to take
risks or transact any business of insurance in this State, unless
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