1142 LAWS OF MARYLAND. [Cir. 402

have deposited with some proper official of the state where
incorporated or organized, or in some other state of the United
States, in trust as security for all the holders of policies or
other obligations of said company in the United States of
America, coin, notes or securities authorized by the insurance
Laws of the state where incorporated or organized, and ap-
proved by the proper official thereof and having authority there-
for, to an amount not less than that required of companies do-
ing the same class of business by the laws of this state to be
deposited with the treasurer of this state.

SEC. 23. Additional Deposits. Whenever any of the se-
curities required to be deposited as provided by sections 20,
21 and 22 shall depreciate in value so that the market value of
the deposit shall be less than that required by said sections,
additional securities shall be deposited in order that the deposit
shall at all times be maintained in the amount of not less than
that required by said sections.

SEC. 24. Exchange and Surrender of Deposits. Any deposit
of coin, treasury notes or securities as .aforesaid made, may at
any time be withdrawn by the company making the same,
under such rules and regulations as the treasurer of Maryland
or the insurance commissioner, respectively, with whom made,
may reasonably make, upon the joint written request of th*,
company having made said deposit and the insurance commis-
sioner, provided other securities authorized by law and of at
least equal value shall be substituted therefor. Whenever it
shall appear to the satisfaction of the said treasurer or the in-
surance commissioner, respectively, with whom any deposit
shall have been made as aforesaid, that the company having
made such deposit has surrendered its charter or ceased to do
business in this state, and, if a domestic company, has dis-
charged all of its obligations, or if a foreign company, has dis-
charged all of its obligations in this state, he shall, upon the
joint written request of the said company and the insurance
commissioner, surrender to said company any deposit so held.
All surrenders shall be countersigned by the insurance com-
missioner.

SEC. 25. Sale of and Income from Deposits. All deposits
made under the provisions of any of the preceding sections
shall be held by said treasurer or commissioner, subject to sale
and transfer and to the application of the proceeds of any
such sale only on the order of a court of competent jurisdiction.