360 LAWS OF MARYLAND. [CH. 196

thereto, insert in the policy a provision that one-fifth of said
reserve may be deducted, or may provide therein that a deduc-
tion may be made of said two and one-half per centum or one-
fifth of said reserve, at the option of the company. Provided,
further, that after premiums have been paid for ten full years,
the policy may be surrendered to the company at its home
office, within the period of grace, after the due date of the de-
faulted premium, for a specified cash value at least equal to
the sum which would otherwise be available for the purchase
of insurance as aforesaid; and provided, further, that the com-
pany may defer payment for not more than six months after the
application therefor is made. In the event that such applica-
tion is not made within the required period, it shall be pro-
vided that a stipulated form of insurance shall automatically
become effective. This provision shall not be required in Term
insurance of twenty years or less.

(U) A table showing in figures the cash values and the
options available under the policy each year upon default in
premium payments, during at least the first twenty years of
the policy, or during the premium paying period, if less than
twenty years.

(H) A provision that at any time within one year after de-
fault in the payment of premiums the policy, if not previously
surrendered for cash, or if the period of extended insurance
has not expired (if the policy should be running under an ex-
tended insurance non-forfeiture provision) may be reinstated
upon written application and upon evidence of insurability sat-
isfactory to the Company and payment of arrears of premiums
and the payment or reinstatement of any other indebtedness
to the Company upon said policy, with interest on said prem-
iums and indebtedness at a rate not exceeding 6% per annum.

(I) The provisions of this section shall not apply to policies
issued or granted pursuant to the non-forfeiture provisions
prescribed in Sub-section F of this section.

(J) Any policy may be issued or delivered in this State
which, in the opinion of the Commissioner, contains provisions
on any one or more of the several foregoing requirements more
favorable to the policyholder than hereinbefore required.

(K) The policies of a life insurance company organized
under the laws of any other State, territory, or foreign govern-
ment, may contain, when issued or delivered in this State, any
provision which may be required by the laws of the State or
government under which the company is organized, and the
policies of a life insurance company, organized under the laws
of this State, when issued or delivered in any other State,
territory, or foreign country, may contain any provision re-
quired by the laws of such State, territory, or foreign country,
to be contained in the policies issued therein.