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724 JOURNAL OF PROCEEDINGS [Mar. 9,
Also, reported favorably, from same Committee, with
proposed amendments,
House bill entitled an Act to repeal section 128, of
Article 28, of the Code of Public General Laws of
Maryland, entitled "Corporations," sub-title "In-
surance Department," and to re-enact the same with
amendments.
AME\DMENTS PROPOSED.
In section 1, line 5, after the words "as follows," add
the following : "Organizations as described in section
127, other than fraternal orders, issuing certificates f or
the payment of money or other benefits in the event
of sickness, accident 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 1,000 upon any
one life, may be formed either on the mutual, so
operative, assessment or stock plan, and if on thelatter
plan shall have a paid up capital of at least ten thou-
sand dollars ($10,000), and every such company ex-
cept such as are mentioned in the proviso in this sec-
tion contained shall be possessed of and constantly
maintain a sum of money not less in amount than
$10,000, or in interest or dividend bearing securities of
equal market value and not in default for interest or
dividend which shall be deposited with the Insurance
Commissioners of this State upon the terms prescribed
for the deposits made with the Treasurer of this Stare
mentioned in section 116 of this Article.
"Provided, That weekly or monthly collections, or
Industrial Benefit Societies of this State incorporated
before the first day of January, 1892, and which made
a report to said Insuiance Commissioner for the year
1891, may only be required to deposit with the said
Insurance 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 aforesaid the full sum of ten thousand dollars
($10,000.00.)"
Which was adopted.
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