500 LAWS OF MARYLAND. [CH. 265

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 123 of Article 48A of the Code of Public
General Laws of Maryland, title "Insurance", sub-title "Mu-
tual Insurance Companies", be and the same is hereby re-
pealed and re-enacted, with amendments, so as to read as
follows:

Section 123. ADMISSION OF FOREIGN COMPANIES. Any mutual
insurance company organized outside of this State and an
thorized to transact the business of insurance on the mutual
plan in this State, shall be admitted and licensed, subject to
the approval of the State Insurance Commissioner, as afore
said, to transact the kinds of insurance authorized by its
charter or articles of incorporation to the extent and with the
powers and privileges specified under this sub-title, and when
it shall be solvent under said sub-title, shall be possessed of
the amount and character of assets and surplus required of
domestic mutual companies transacting the same class or
classes of business, and shall have complied with the following
additional requirements:

(a) Filed with the Insurance Commissioner a certified copy
of its charter or articles and a certificate of the supervising
insurance official of the State in which it is incorporated, that
it is there organized and authorized to do such business as it
desires to transact in this State.

(b). Filed with the Commissioner a copy of its by-laws certi-
fied by its secretary.

(c) Appointed the Insurance Commissioner its agent for
the service of process, in any action, suit or proceeding brought
in this State, which authority shall continue so long as any
liability shall remain outstanding in this State.

(cl) Filed a financial statement under oath, in such form as
the Commissioner may require, and have complied with other
provisions of the laws applicable to the filing of papers and
furnishing information by stock companies applying for au-
thority to transact the same kinds of insurance.

(e) If organized without the United States, make and main-
tain a deposit, if any, required of a like mutual insurance com-
pany formed in this State for transacting the same kind of in-
surance in the country in which such foreign company is
domiciled.

(f) Its name shall not be so similar to any name already in
use by any such existing corporation, company or association
organized or licensed in this State as to be confusing or mis-
leading.

(g) Any mutual insurance company organized outside of
this State, which is authorized to transact the business of in-
surance on the mutual plan, which neglects to comply with the