HARRY W. NICE, GOVERNOR. 419

rations; provided that any domestic railroad, railway, street
or passenger railway, steamship, steamboat, common carrier,
telegraph, cable, telephone, express, transportation, parlor car,
sleeping car, oil pipe-line, turnpike, bridge, sewage disposal,
electric light and power, heating, refrigerating, gas or water
company, which neither owns, maintains nor operates prop-
erties, lines or works in this State, or any other domestic
corporation having a capital stock which does no part of its
business in this State, shall be deemed an ordinary business
corporation.

SEC. 2. And be it further enacted That Sub-section (d) of
Section 27 of Article 81 of the Annotated Code of Maryland
(1935 Supplement), title "Revenue and Taxes", sub-title "Rate
of Tax", be and it is hereby repealed.

SEC. 3. And be it further enacted That Section 39 of Article
48A of the Annotated Code of Maryland (1935 Supplement),
title "Insurance", sub-title "General Provisions", be and it is
hereby repealed and re-enacted, with amendments, to read as
follows:

39. TAX ON PREMIUMS. Every insurance company (includ-
ing fidelity, surety, casualty, liability, compensation, livestock
and miscellaneous companies), other than such as may be char-
tered under the laws of the State of Maryland, and every com-
pany of this State writing fire, marine, fidelity, surety, cas-
ualty, liability and compensation insurance, except domestic
Mutual fire insurance companies, shall pay annually to the
Insurance Commissioner a tax on new and renewal gross
premiums written in this State, but not on deposits received
under annuity contracts issued in this State, during the pre-
ceding year, without deduction for any cause whatever except
as herein provided, which said tax shall be at the rate of two
per cent, for all such companies, foreign and domestic, on
their fire, marine, fidelity, surety, casualty and compensation
insurance writings, and at the rate of one and one-half per
cent, for foreign companies on other insurance writings but
not on annuity contracts. A report under oath of the pre-
miums so written during the preceding year must be made
to the Insurance Commissioner in January of each year
by the chief accounting officer or officers of such company,
and the premium tax as above on each premium written in
this State shall be due and payable when said premium is
written, but for convenience of payment, the company may re-
port and pay same in the month of January following, except
in the case of companies retiring from the State, either volun-
tarily or involuntarily, in which case the tax shall be reported
and paid immediately after so retiring. All premium taxes