HARRY W. NICE, GOVERNOR. 417

day of such examination as provided in Section 50 of this
Article.

205. INVESTMENTS. Every corporation subject to the provi-
sions of this sub-title may invest its funds only in securities
permitted by the laws of this State for the investment of the
assets of life insurance companies.

206. REVOCATION OF LICENSE: Whenever the Insurance
Commissioner shall have reason to believe that any corporation
subject to the provisions of this sub-title is being operated
for profit or fraudulently conducted, or is not complying with
the provisions of this sub-title, he shall be authorized to revoke
the certificate of authority or license theretofore granted, and
may at any time thereafter institute, or cause to be instituted,
the necessary proceedings under the laws of this State looking
to the dissolution of insurance companies, and any dissolution
or liquidation of a corporation subject to the provisions of
this sub-title shall be under the supervision of the Insurance
Commissioner.

207. PENALTIES. Any person or corporation engaging in
the business of operating Hospital Service Plans without first
having procured a license from the Insurance Commissioner, as
required by this sub-title, and any person or corporation vio-
lating any provisions of any section of this sub-title, shall be
deemed guilty of a misdemeanor and shall be subject to a fine
of not less than One Hundred Dollars ($100. ) or more than
One Thousand Dollars ($1, 000. ) for each and every such of-
fense. Any person making any wilfully false statement in any
written document required by any section of this sub-title
to be filed with the Insurance Commissioner, or while under
oath administered by the Commissioner or any examiner at
any investigation or hearing conducted by said Insurance
Commissioner or examiner, shall be deemed to be guilty of
perjury and shall be proceeded against and punished as pro-
vided by the statutes of this State in relation to the crime of
perjury.

208. EXEMPT FROM TAXATION. Every corporation licensed
under the provisions of this sub-title is hereby declared to be a
charitable and benevolent institution, and all of its funds
shall be exempt from all and every state, county, district and
municipal tax, other than taxes on real estate and office equip-
ment.

SEC. 3. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the im-

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