686

LAWS OF MARYLAND.

or death, or other contingency, either to the member,

policy, or certificate holder, or by whatsoever name the

same may be known, or to their families or representatives,

but issuing no certificates for the payment of a greater sum

than one thousand dollars upon one life, may be formed

either on the mutual, corporative assessment or stock plan,

and if ou the latter plan shall have a paid up capital of at

least ten thousand dollars ($10,000), and every such com-

panv, except such as are mentioned in the proviso in this

section contained, shall be possessed of and constantly

maintain a sum of money not less in amount than ten thou-

sand dollars, or in interest or dividend bearing becurities

of equal market value, and not in default for interest or

dividend which shall be deposited with the insurance com-

missioner of this State, upon the terms prescribed for the

deposits with the treasurer of this State mentioned in sec-

tion 116 of this article, provided, that weekly or monthly

collection or industrial benefit societies of this State incor-

porated before the first day of January-, 1892, and which

made a report to said insurance commissioner for the year

1891 may only be required to deposit with the said insur-

ance commissioner upon the terms above in this section

mentioned the sum of five hundred dollars ($500,) before

the first day of January, 1893, and to deposit as aforesaid

an additional sum of five hundred dollars ($500,) before

the first day of January in every year thereafter until they

shall have each deposited as foresaid the full sum of ten

thousand dollars ($10,000).

SEC. 2. And be it enacted, That this act shall take effect

Effective.

from the date of its passage.

Approved April 7th, 1892.

CHAPTER 489.

AN ACT to appropriate a sum of money to pay Louis H.

Rehn the sum of one hundred and twenty-two dollars

and seventy -five cents ($122.75), for commission on money

collected by him as collector and treasurer of the city of

Annapolis, from applicants for liquor licenses, and paid

by him into the State Treasury.

WHEREAS, by the act of the General Assembly of Mary-

Preamble

land, passed at the January session of 1890, chapter 568,

the collector and treasurer of the city of Annapolis is