ALBERT C. RITCHIE. GOVERNOR. 1145

cannot be revoked or modified, except that a new one may be
substituted, so long as any policy or liability remains out-
standing against such company in this state. The term pro-
cess, used above, shall be held and deemed to include any writ,
summons or order, whereby any action, suit or proceeding
shall be commenced, or which shall be issued in or upon any
action, suit or proceeding, by any court, officer or magistrate:
thirdly, a statement of the condition of the company on the
thirty-first day of December next preceding, under oath of the
president or vice-president of the company, with that of the
secretary or actuary, as hereinafter provided; fourthly, a cer-
tificate by every company writing life, accident, health, liabil-
ity or compensation insurance, or fidelity or surety bonds, which
shall be renewed annually, from the commissioner or superin-
tendent of insurance or proper financial officer of the state in
which such company is organized, or by the treasurer of the
State of Maryland, or of some other state of the United States,
setting forth that such company has deposited with him the
sum of one hundred thousand dollars of its capital or assets.
in bonds, coin or treasury notes of the United States, or in
bonds of the State of Maryland or of the state in which said
deposit is made, or in bonds secured by mortgage or deeds of
trust on unincumbered real estate, worth at least double the
amount loaned thereon, and that he holds the same in trust
and on deposit, under and by the laws of the state in which
he resides, for the benefit of all the policyholders of such com-
pany in the LTnited States, and that he is satisfied that the se-
curities so deposited by such company and held by him are
worth at least one hundred thousand dollars; fifthly, a requisi-
tion for the appointment of each agent or solicitor, executed
by the proper officers or authorized representative of the com-
pany, certifying to the fitness of the appointee and signed by
the agent or solicitor applying for a license, in accordance with
the provisions of section 60. A company may designate any
representative as principal or general agent or state manager,
and any representative thus designated shall be authorized to
requisition upon the commissioner for the appointment of sub-
agents or solicitors.

SEC. 30. Certificate of Authority to Domestic Company. No
company incorporated under the laws of this state shall, di-
rectly or indirectly, transact any business of insurance until,
first, there shall have been filed with the commissioner a duly
certified copy of its charter; secondly, it shall have made the