864 LAWS OF MARYLAND. [CH. 400

expenses as may be necessary for transacting the business of
the corporation. No agreement or contract of insurance en-
tered into, or policy issued thereunder, for the purpose of
complying with these requirements, shall be for a shorter term
than one year. If the President and Secretary of any mutual
fire insurance company shall make a false oath relating to the
certificate required by this section, they shall be guilty of
perjury.

No mutual fire insurance company operating on the cash
premium plan, nor any mutual fire insurance company with a
guaranty capital of less than one hundred thousand dollars,
either of which has become insolvent, or has reinsured or can-
celled its risks so that it has on its books less than two hundred
and fifty thouand dollars of insurance in force, not reinsured,
in not lees than one hundred separate risks in this State, shall
make any further insurance until it shall have secured applica-
tions for policies which, together with the unreinsured risks in
force, shall amount to not lees than two hundred and fifty thou-
sand dollars in not less than one hundred separate risks in this
State, said applications to be subject to the same provisions of
this section as apply to the subscriptions for insurance in a
new company. Upon the filing of such applications with the
Insurance Commissioner, he shall make such investigation as
is necessary to verify the above, and upon finding that the law
has been complied with, shall grant a new license to such com-
pany to issue policies.

154X. Mutual Fire Insurance companies, incorporated un-
der the laws of any other State of the United States, or of any
foreign government, and duly licensed to transact business in-
such other State or country, shall be admitted to do business
in this State, upon complying with all the requirements and
restrictions of this Article applicable to domestic companies of
the same class, save only as to their incorporation and invest-
ment of their funds, if they shall at the time of application for
admission be in compliance with the laws of their respective
State or country, and shall file with the Insurance Commis-
sioner of this State the following: (a) a certified copy of its
Article of Incorporation or Association and of its by-laws;
(b) a consent duly executed, appointing the State Insurance-
Commissioner of Maryland to be the true and lawful attorney
for such company in and for this State, upon whom all legal
process in any action or proceeding against the company may
be served with the same effect as if it were a domestic com-