FRANK BROWN, ESQURE, GOVERNOR.

CHAPTER 256.

AN ACT to repeal Sections 121 A and 128 of Article 23 of
the Public General Laws of Maryland, title "Corporations,"
sub-title " Insurance Department," and to re-enact the same
with amendments.

SECTION 1. Be it enacted by the General Assembly of

343

Maryland, That sections 121 A and 128 of article 23 of the
Code of Public General Laws of Maryland, title "Corpora-
tions," subtitle "Insurance Department," be and the same are
hereby repealed and re-enacted, so as to read as follows :

SEC. 121 A. The Insurance Commissioner is authorized to

¹ Repeal.

employ a counsel for the insurance department, at an annual
compensation not exceeding one thousand dollars, which shall
be paid out of the fees of said insurance department.

SEC. 128.. Organizations, as described in section 127, issuing

May employ
counsel.

certificates for the payment of money or other benefits in the
event of sickness, accident or deatii, or other contingency,
either to the member, policy-certificate holder or by whatso-
ever name the same nny be known, or to their families oi
representatives, but issuing no certificate for the payment of a
greater sum than one thousand dollars upon any one life, ma}
be formed on the mutual co-operative assessment or stock
plan, and if on the latter plan, shall have a paid-up capital ol
at least $10,000; and such companies, whether formed on the
mutual co-operative assessment or stock plan, shall be possessed
of and constantly maintained a sum of money not less ir
amount than ten thousand dollars or in interest or dividend
bearing securities of equal market value, and not in defaull
for interest or dividend, which shall be deposited with the
insurance commissioner of this State, upon the terms pre
scribed for the deposits made with the Treasurer of this State
mentioned in section 116 of this article; provided, that weeklj
or monthly collections or industrial .benefit societies of thi:
State, incorporated before the first day of January, 1892, am
which made a report to said insurance commissioner for thi
year 1891, may be only required to deposit with the insuranci
commissioner, upon the terms above in this section mentioned
the sum of five hundred dollars, before the first day of Jan
nary, 1893, and to deposit as aforesaid an additional sum o
$500, before the first day of January in every year thereafter
until they shall have each deposited, as aforesaid, the full sun

! Mutual
co-operative
) assessment
or stock plan
Insurance
• companies.

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