246 LAWS OF MARYLAND. [CH. 150

exceed two per centum of the total amount of insurance in
force; prescribe the form of application and policy of insur-
ance and determine the terms and conditions thereof; provide
for the payment of losses and expenses incurred by said Com-
pany; execute the various provisions of the Charter of said
Company and do all things necessary for the well being and
good management of the affairs of the Company not incon-
sistent with the laws of this State.

Section 14. The Board of Directors shall have power to
determine and collect for the year Nineteen Hundred and Six-
teen the annual interest on the premium notes now held by
the Company given in connection with policies which have been
in force during the year Nineteen Hundred and Sixteen, as
heretofore, as provided by the present Charter of the Company,
and shall thereafter collect in advance the cash premium for
maintaining the insurance as provided by this Charter.

Premium notes given in connection with policies now in
force, shall be held to be the equivalent of premium basis for
the purpose of fixing the cash premium to be paid in advance,
and shall remain in force until cancelled as provided by the
present Charter of the Company or the old policy surrendered
to the Company and a new application signed and policy ac-
cepted in accordance with the provisions of this Charter.

Nothing in this Act shall be construed to impair the right
of said Company to retain its present cash balance nor impair
the obligation of any contract previously entered into by said
Company nor in any wise affect any policy subsisting at the
time of the passage of this act.

Section 15. And be it enacted, That this act shall take effect
from July first, Nineteen Hundred and Sixteen.

Approved April 4th, 1916.

CHAPTER 150.

AN ACT to repeal Section 175C of Article 1 of the Code of
Public Local Laws of the State of Maryland, title "Alle-
gany County, " under sub-title "Intoxicating Liquors, " as
enacted by the Acts of the General Assembly of 1894, Chap-
ter 140; and the Acts of 1904, Chapter 57; and the Acts
of 1906, Chapter 176; and the Acts of 1908, Chapter 628;