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LAWS OF MARYLAND.
CHAPTER 132.

AN ACT to repeal and re-enact with amend-
ments the sixth paragraph of section twenty-
eight of article fifty-six of the Code of
Public General Laws, entitled "Licenses,"
sub-title "Foreign Corporations and Com-
panies," as said section was repealed and
re-enacted by chapter one hundred and six
of the acts of eighteen hundred and seventy-
eight.

SECTION 1. Be it enacted by the General As-
sembly of Maryland, That the sixth paragraph

Repealed and
re-enacted.

of section twenty-eight of article fifty-six of
the Code of Public General Laws, entitled
"Licenses," sub-title "Foreign Corporations and
Companies," as said section was repealed and
re-enacted by chapter one hundred and six of
the acts of eighteen hundred and seventy-
eight, be and the same is hereby repealed and
re-enacted so as to read as follows :

Sixth. For every company doing fire and
inland insurance business in this State, he
shall calculate the re-insurance reserve for
unexpired fire and inland risks by taking fifty
per centum of the premium received on all
unexpired risks that have less than one year
to run, and a pro rata of all premiums re-
ceived on risks that have one year or longer
to run, and in marine insurance he shall charge
sixty per centum of the amount of premium
written in its marine policies upon yearly

Reserve fund.

risks, and risks covering more than one pas-
sage not terminated, and the full amount of
premium under its policies upon all other
marine ri sks less than one year not terminated ;
provided, that the foregoing requirements of
re-insurance reserve, when applied to com-
panies organized under the laws of foreign
'governments, shall be calculated only upon
the business of such company in the United