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Session Laws, 1918 Session
Volume 486, Page 865   View pdf image (33K)
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EMERSON C. HARRINGTON, GOVERNOR. 865

pany. Service upon such attorney shall thereafter be deemed
service upon the company; (c) an agreement that it will pay
the taxes provided for in Section 184 of this Article and that
it will furnish any further information as to its financial con-
dition as the Insurance Commissioner shall require; (d) each
such company shall pay to the Insurance Commissioner the
fees required by Section 184 of this Article applicable to Fire
Insurance Companies.

Provided, however, that such companies in computing the
tax to be paid on the gross premiums, shall be entitled to take
credit for return premiums on cancelled policies and for rein-
surance effected in companies authorized to do business in this
State, and also to deduct the amount of all unabsorbed pre-
mium deposits actually returned or credited to policy holders
during the tax year; provided, that no such deduction shall be
made, unless such unabsorbed premium deposits have been
included as premiums received.

154Y. All provisions of Article 23 governing or in any
manner applying to stock fire insurance companies not incon-
sistent with any provision of Section 154L to Section 154X,
both inclusive, of this Article, shall govern and apply with
equal force to mutual fire insurance companies, and all sections
of said Article 23 inconsistent in whole or in part with any
section or provision of this Act are hereby repealed in so far
as they may be inconsistent herewith.

SEC. 3. And be it further enacted as aforesaid, That said
Article 23 of the Code of Public Civil Laws of Maryland, title
"Corporations," sub-title "Insurance Companies," be and the
same is hereby further amended by adding thereto thirteen new
and additional sections, to follow immediately after Section
154Y, and to be designated and known, respectively, as Sec-
tions 154AA, 154AB, 154AC, 154AD, 154AE, 154AF,
154AG, 154AH, 154AI, 154AJ, 154AK, 154AL and 154AM,
and to read as follows:

154AA. Individuals, partnerships and corporations of this
State, hereby designated as subscribers, are hereby authorized
to exchange reciprocal or inter-insurance contracts with each
other or with individuals, partnerships and corporations of
other States and countries providing indemnity among them-
selves from any loss which may be insured against under other
provisions of the laws of this State, excepting life, health and
personal accident insurance. Such contracts and the exchange
thereof and such subscribers, their attorneys and representa-
27

 

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Session Laws, 1918 Session
Volume 486, Page 865   View pdf image (33K)
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