2162 LAWS OF MARYLAND. [CH. 901

eral Laws of Maryland (1943 Supplement), title
"Revenue and Taxes", sub-title "Insurance Taxes", as
amended by Chapter 560 of the Acts of 1945, defining
what are insurance companies subject to the payment
of premium taxes and exempting domestic mutual fire
insurance companies from the payment of such taxes,
and providing also that credits allowed policyholders on
premiums under industrial life insurance policies paid
directly to the company's home office or branch office
shall not be reported for taxation.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 101 of Article 81 of the Annotated Code of
Public General Laws of Maryland (1943 Supplement),
title "Revenue and Taxes", sub-title "Insurance Taxes",
as amended by Chapter 560 of the Acts of 1945, be and the
same is hereby repealed and re-enacted with amendments,
to read as follows:

101. (Definitions.) As used in the sub-title:

(1) The phrase "insurance company means (a) every
person engaged as principal in the business of writing in-
surance, surety, guaranty or annuity contracts (except
non-profit hospital service plan corporations and fraternal
beneficiary associations), and includes mutual insurance
companies (except domestic mutual fire insurance com-
panies), title insurance companies and credit indemnity
companies, and (b) attorneys-in-fact for reciprocal ex-
changes or inter-insurers.

(2) The term "premiums" includes the consideration
for surety, guaranty and annuity contracts, dividends
on life insurance policies which have been applied to
purchase additional insurance or to shorten the premium
paying period, and so much of the gross receipts of title
insurance companies as is derived from the business of
insurance or guaranty, but shall not include premiums on
policies covering weekly disability benefits on which
premiums are payable weekly, or credits allowed on pre-
miums under policies of industrial insurance by reason of
payment thereof being made to the home office or to a
branch office of the company. The provisions of this sub-
section shall be retroactive to October 1, 1941.

(3) The term "policy" includes insurance, surety,
guaranty and annuity contracts.

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

Approved May 7, 1947.