1076 LAWS OF MARYLAND.
CHAPTER 631.

AN ACT to add five new sub-Sections to Section 178 of Article
23 of Bagby's Code of Civil Laws, title '' Corporations,'' sub-
title "Insurance Department," to be known as sub-Sections.
Eleventh, Twelfth, Thirteenth, Fourtenth and Fifteenth, re-
quiring bonding and casualty insurance companies doing
business in this State to set aside reserves for unadjusted
claims and for unearned premiums.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That five new Sub-Sections be added to Section 178 of
Article 23 of Bagby's Code of Civil Laws, title "Corporations,"
sub-title "Insurance Department," to be known as Eleventh,
Twelfth, Thirteenth, Fourteenth and Fifteenth, and to read as
follows:

Eleventh. All stock corporations doing the business of bond-
ing and casualty insurance, whether incorporated under the
laws of Maryland or of some other State and authorized by
the Insurance Department to transact such business in this
State, shall at all times keep and maintain adequate reserves
sufficient to pay the claims which may have been filed against
such corporations, and also reserves for unearned premiums,
said reserves to be estimated as hereinafter described.

Twelfth. The reserve for outstanding losses under insurance
against loss or damage resulting from accident to or injuries
suffered by an employee or other person and for which the in-
sured is liable, and under insurance against loss from liability
on account of the death of or injury to an employee not caused
by the negligence of the employer, shall be determined as follows:
Each corporation which writes policies covering any of the said
kinds of insurance shall include in the annual statement re-
quired by the insurance laws of this State a schedule of its
experience thereunder, in the United States and foreign coun-
tries in the case of corporations organized in the United States,
and in the United States only in the case of corporations or-
ganized outside of the United States, giving each calendar year's
experience separately, and crediting or charging each item to
the year in which the policy to which it relates was written, as
follows: (1) The earned premium on all such policies written
during the period of ten years immediately preceding the date
as of which the statement is made, being the gross premiums
on all such policies including excess and additional premiums