1254 LAWS OF MARYLAND.

him of the amount of interest so ascertained and certified, the
membership of each such dissenting member or policy holder
shall cease and determine; and the remainder of the assets in
excess of the sum required for the compensation of dissenting
members or policy holders as aforesaid, may be deposited with
the Treasurer of Maryland or the insurance commissioner un-
der the provisions of Sections 149 and 176 of this Article as a
guarantee for the payment of the policies issued by said com-
pany. And any surplus that may be found to exist in the as-
sets of such corporation, over and above all its liabilities includ-
ing the legal reserve for all outstanding policies in force, as
ascertained and certified by the insurance commissioner as
hereinabove provided at the date of its reorganization as stock
company shall be held as a fund for the security of the credi-
tors of the company, and shall under no circumstances pass to
the ownership of the stockholders, be distributed among them
or be used or encroached upon for the payment of dividends
upon the capital stock.

The mutual policies and all rights and liabilities attached
thereto, and all the powers and obligations of the company with
reference to the same, shall survive so long as said policies shall
remain in force, except that such policies shall thereafter be con-
sidered as policies for the largest amount, which, according to
their terms, might be payable thereunder in case the assess-
ments provided for should yield a sufficient amount to pay the
same, and if any certain number of assessments be specified
upon said policies as payable by the holders thereof, the com-
pany shall not be entitled to levy any further assessments, even
though such rights may have been previously reserved in the
policy.

SEC. 2. Be it further enacted, That this Act shall take effect
from and after the date of its passage.
Approved April 13th, 1914.

CHAPTER 730.

AN ACT to amend the Charter of Denton, by repealing Sections
seventy-two to one hundred and four, inclusive, of Article six
of the Code of Public Local Laws, title "Caroline County,"
sub-title '' Denton,'' and all amendments and additions thereto,
except as hereinafter preserved and retained, and to re-enact
the same with amendments.