ALBERT C. RITCHIE, GOVERNOR 1093

Civil Laws of Maryland, title "Corporations," sub-title ''In-
surance Companies, be and the same is hereby repealed and
re-enacted, with amendment, so as to read as follows:

154. Corporations may be formed under the provisions of
this Article, for insurance purposes, and may he formed
either as mutual or stock companies, or as mutual and stock
companies combined, as shall be determined and declared in
the certificate of incorporation of any such company.

SEC. 2. And be it further enacted as aforesaid, That Sec-
tions 154 A to 154V, both inclusive, of Article 23 of the Code
of Public Civil Laws of Maryland, title "Corporations." sub-
title "Insurance Companies." be and the same are hereby
repealed.

SEC 3. And be it further enacted as aforesaid, That Arti-
cle 23 of the Code of Public Civil Laws nf Maryland, title
"Corporations," sub-title "Insurance Companies. be and
the same is hereby further amended by adding thereto twenty-
one new sections, to follow consecutively immediately after
Section 154, as repealed and re-enacted hereby, and to be
known, respectively, as Sections 154A. 154R. 154C. 154D,
154E, 154F, 154G, 154H, 154T, 154J, 154K, 154L, 154M, 154N.
154O, 154P, 154Q, 154R, 154S, 154T and 154U and to read as
follows :

154A. Any mutual insurance company organized, licensed
or admitted under the provisions of this Act, is empowered
and authorized to make contracts of insurance, or nf re-
insurance, or may cede or accept reinsurance, on the whole or
any portion of any risk, providing indemnity from any loss
which may be insured against under any other provisions of
the laws of this State, excepting life insurance. Such com-
panies and the business transacted by them shall be regulated
by this Act and by no other law relating to insurance, unless
such law is referred to in this Act, and no law hereafter en-
acted shall apply to such companies unless they be expressly
designated therein.

154B. No corporation organized under this Act shall issue
policies or transact any business of insurance unless it shall
comply with the conditions following, nor until the State In-
surance Commissioner has, by formal license, authorized it
to do so, and such license shall not issue until the corporation
shall have complied with the following conditions: