756 LAWS OF MARYLAND. [CH. 379

SEC. 2. And fie it further enacted, That this Act shall take
effect June 1, 1937.

Approved May 18, 1937.

CHAPTER 379.

AN ACT to repeal and re-enact, with amendments, Sections 83
and 84 of Article 48A of the Code of Public General Laws
of Maryland, title "Insurance", sub-title "Life, Accident and
Health Insurance", relating to the valuation of policies of
insurance on the lives of adults and infants.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sections 83 and 84 of Article 48A of the Code of
Public General Laws of Maryland, title "Insurance", sub-title
"Life, Accident and Health Insurance", be and the same are
hereby repealed and re-enacted, with amendments, so as to
read as follows:

Section 83. VALUATION OF POLICIES. As soon as practicable
in each year, the actuary shall, under the supervision of the
Commissioner, calculate the net value on the thirty-first day
of December of the previous year, of all the policies and addi-
tions thereto, and all obligations for the payment of annuities
in force on that day of each life insurance company doing
business in this State organized by authority of this State.
Every foreign life insurance company doing business in this
State shall file with the Commissioner a certificate from the
Insurance Commissioner or proper official of the State, terri-
tory, district or government by whose authority the company
was organized, or in which it may elect to have its policies
valued and its deposits made, giving the net value of all
policies in force in the company on the thirty-first day of
December, in the year nineteen hundred and two, based
upon the American Experience Table of Mortality, and four
and one-half per cent interest per annum; and for all policies
issued subsequent to said thirty-first day of December, in the
year nineteen hundred and two, and on or before the thirty-
first day of December, in the year nineteen hundred and
eighteen, upon the Actuaries Table of Mortality, and four per
cent interest per annum; and for all policies except industrial
issued subsequent to the thirty-first day of December, in the
year nineteen hundred and eighteen, upon the American Ex-
perience Table of Mortality or the American Men Ultimate
Table of Mortality and three and one-half per cent interest