250 LAWS OF MARYLAND.

ant to this act, and the same shall be held by said Treasurer in
trust as security for all the holders of policies or guarantees of
said corporation; provided, however, that no such corporation
incorporated under any law of any other State, district or
territory, the United States or any foreign country, shall be
required to make the deposit above set forth, with the Treas-
urer of this State, if said corporation shall have made with
the insurance commissioner. Treasurer or other proper officer
of any State, district or territory in the United States, a deposit
in the amount, as above set forth, of any securities as shall
have been approved by the proper officer where made, for the
benefit of all the holders of policies or guarantees of said cor-
poration, as above set forth, and a certificate thereof under the
hand and official seal of said proper officer shall have been filed
with said treasurer; and all other corporations mentioned in
section 85 A, not transacting as part of its business the security
or guarantee business shall, within six months from the passage
of this act, and from time to time thereafter, if need be, trans-
fer and assign to the said Treasurer, registered public stock of
the United States, or of the State of Maryland, or of Balti-
more city, or the bonds of any county or municipal corpora-
tion of this State, which shall be approved by said Treasurer
to the amount in value of fifteen per centum of the paid-up
capital stock of such corporation, and said amount shall be at
all times maintained by said corporation, so that the amount
of such stock in the hands of said Treasurer shall at all times
be equivalent, at its par value, to fifteen per centum of the
paid-up capital stock of such corporation, but not less in any
case than thirty thousand dollars; which stocks must be regis-
tered in the name of the said Treasurer officially, as held in
trust under and pursuant to this act, and the same shall be
held by the said Treasurer in trust as security for the deposi-
tors, with the conditions of said corporation; and all of the
said stocks so held in trust by the said Treasurer and deposited
by any of the corporations above named, either transacting the
security or any other .class of business, shall be held by said
Treasurer subject to sale and transfer, and to the application of
the proceeds of such sale by the said Treasurer only on the
order of any court of competent jurisdiction, and until the order
of such court authorizing such sale or transfer, or otherwise to
the contrary, said treasurer shall pay over to such corporation
the interest which may be received on the said securities, or he
may authorize the said corporation to collect and receive the
same for its own benefit. Should any such corporation at any