196 LAWS OF MARYLAND. [CH. 130

held, and be it further provided that the admitted values of
such properties shall not exceed their depreciated values.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1947.

Approved March 15, 1947.

CHAPTER 130.
(House Bill 73)

AN ACT to repeal and re-enact, with amendments, sub-section
(7) of Section 130B of Article 48A of the Annotated Code
of Maryland (1943 Supplement), title "Insurance", sub-
title "Life, Accident and Health Insurance", relating to
the operative date for filing with the Insurance Commis-
sioner by life insurance companies of written notice of
their election to comply with the provisions of the Guertin
Act and authorizing the Commissioner to extend the time
for filing policies under the Act so that they may be re-
viewed and approved even though action be taken thereon
after January 1, 1948.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sub-section (7) of Section 130B of Article 48A of
the Annotated Code of Maryland (1943 Supplement), title
"Insurance", sub-title "Life, Accident and Health Insurance",
be and the same is hereby repealed and re-enacted, with amend-
ments, to read as follows:

130B. (7) After June 1, 1947, any company may file
with the Commissioner a written notice of its election
to comply with the provisions of this section after a specified
date before April thirtieth, nineteen hundred and forty-
nine. After the filing of such notice, then upon such specified
date (which shall be the operative date for such company),
this section shall become operative with respect to the policies
thereafter issued by such company. If a company makes no
such election, the operative date of this section for such com-
pany shall be April thirtieth, nineteen hundred and forty-nine,
provided, however, the Commissioner may, in his discretion, if
circumstances would seem to warrant, extend the operative
date of this Act with respect to any such company, for a
further period, but in no case beyond January first, nineteen
hundred and fifty.