696 CORPORATIONS. [ART. 23

unpaid, the amount incurred and in process of adjustment, and
any other claims existing against the company; and in the case
of life insurance companies, the said certificate shall contain a
statement, under the oaths of said certifying officers, that the
said company has invested in good securities, naming them, an
amount equal to that required of similar companies authorized
to be incorporated under this article, and that such securities
are held in trust, and by whom, for the benefit of persons who
may effect insurance in said company. Any person who shall
act as agent of any insurance company which has not com-
plied with the provisions contained in this section shall be
subject to a penalty of five hundred dollars for every day he
shall so act, to be recovered as other fines and penalties are
recovered in this State, one-half to the use of the informer and
one-half to the use of the State.

Stevens v. Rasin Fertilizer Co., 87 Md. 683. Condon v. Mutual Reserve
Co., 89 Md. 112.

1890, ch. 254, sec. 119 A.

154. No life insurance company incorporated under the laws
of any other State or country and doing business in the State of
Maryland shall make or permit any distinction or discrimination
in favor of individuals of the same class and equal expectation
of life, in the amount or payment of premiums or rates charged
for policies of life or endowment insurance, or in the dividends,
or other benefits payable thereon, or in any other of the contracts
of insurance it makes, nor shall any such company or agent
-thereof make any contract of insurance or agreement as to such
contract, other than as plainly expressed in the policy issued
thereon, nor shall any such company or agent pay or allow, or
offer to pay or allow, as inducement to any person to insure
any rebate of premium payable on the policy, or any special
favor or advantage whatever, in the dividends or other benefits
to accrue thereon, or any valuable consideration or inducement
whatever, not specified in the policy or contract of insurance.
Ibid

Ibid. sec. 119 B.

155. It shall not be lawful for any company organized under
the laws of any other State or county, or its representative, to
procure for any person seeking life insurance a State license for
the purpose of allowing to such person a rebate.

1890, ch. 254. 1892, ch. 441, sec. 119 C.

156i Any life insurance company, its agent or agents, violat-
ing sections 154 and 155 shall be guilty of a misdemeanor and