622 CORPORATIONS. [ART. 23

1898, ch. 308, sec. 141 A.

192. Any insurance company organized and incorporated on
the mutual plan, under the laws of this State and other States
for the purpose of insuring against loss or damage resulting
from burglary or robbery or attempt thereat and securing
against the loss of money or securities in course of transporta-
tion when shipped by registered mail, shall be authorized,
admitted and licensed to do business in this State, as provided
in the two succeeding sections.

Ibid. sec. 141 B;

193. Before any such company shall be authorized to trans-
act business in this State, it shall have in force one thousand
or more policies on which the premium shall have been paid
in cash or shall have been evidenced by written contracts on
which not less than one-fifth of the amount shall have been
paid in cash, and the cash contracts for premiums shall amount
in the aggregate to the sum of not less than one hundred thou-
sand dollars. The premium contract shall constitute as part of
the assets of the company.

Ibid, sec 141 C.

194. Policy holders of any company organized and admitted
to transact business in this State under the two preceding sec-
tions shall be held liable to pay the membership fee and pre-
mium on their insurance as paid or contracted to be paid at
the time the policy is taken out, and shall not be held for any
other or further assessments or claims on the part of the com-
pany or its policy holders. The membership fee and premium
agreed upon may be collected in cash at the time the policy is
issued, or be evidenced by a written obligation of the policy
holder. Such payment or obligation shall be the limit of the
liability of the policy holder to the company for premium on
the insurance.

1888, art. 23, sec. 142 1884, ch. 500.

195. No company, association, partnership or corporation of
this State, or any other State or nation, granting insurance on
the lives of persons under ten years of age, shall be authorized
to do business in the State of Maryland, unless it complies
with the provisions of this article.

1894, ch 662, sec 142 A.

196. Whenever the application for a policy of life insurance
contains a clause of warranty of the truth of the answers