1172 LAWS OF MARYLAND. [Cil. 402

claims against it, the commissioner shall, in case he finds the capi-
tal stock of the company impaired to the extent of twenty-five
per cent., give notice to the company to make good its whole
capital stock within sixty days; and if this is not done he
shall require the company to cease to do new business within
this state; and shall thereupon, in ease the company is organ-
ized under the authority of this state, immediately institute
such legal proceedings as are necessary to protect the rights
of all persons in said company.

SEC. 78. Lloyds Insurance. Associations of individuals,
citizens of the United States, whether organized within this
state, or elsewhere within the United States, formed upon the
plan known as Lloyds, whereby each associate underwriter be-
comes liable for a proportionate part of the whole amiount in-
sured by the policy, may be authorized to transact insurance
other than life in this state, upon the following conditions:
That any such association organized in this state may be
permitted to transact the insurance business upon the same
terms and conditions1 as are by the laws of this state imposed
upon an insurance company organized under the laws of this
state, and any such association organized in any other state
of the United States may be permitted to transact its business
in this state upon the same terms and conditions as are by the
laws of this state imposed upon an insurance company incor
porated in the state where such association was organized

LIFE, ACCIDENT AND HEALTH INSURANCE.

SEC. 79. Life Insurance Companies. Any company mak-
ing any engagement for the payment of money or other bene-
fits in the event of sickness, accident or death, or other con-
tingency, either to the member, policy or certificate holder,
or by whatsoever name the same may be known, or to their
families or representatives, or entering into any contract or
agreement in which the chances or probilities of the duration
of life, or the rate of mortality or hazard of occupation are
in any way involved as an element or condition of such
contract or agreement, shall be deemed and taken to be a life
insurance company within the meaning of this article, and
shall be subject to all the requirements of law applicable to
said life insurance company. Every domestic life insurance
company is hereby also authorized to insure individuals against
accident, and to grant, purchase, or dispose of annuities, unless
it shall be otherwise provided in its charter or by-laws.