1176 LAWS OF MARYLAND. [Cil. 4i)2

all purposes for which valuation may be made, or is required
to be made under the laws of this state , as follows:

If purchased at par, at the par value;

If purchased above or below par, on the basis of the purchase
price adjusted so as to bring the value to par at maturity, and
so as to yield meantime the effective rate of interest at which
the purchase was made; provided, that the purchase price
shall in no case be taken at a higher figure than the actual
market value at the time of purchase; and provided, further,
that the commissioner shall have full discretion in determining
the method of calculating values according to the foregoing
rule, and the values found by him in accordance with such
method shall be final and binding; provided also, that any
such corporation may return such bonds or other evidences
of debt at their market value or their book value, but in no
event, at an aggregate value exceeding the foregoing rule; and
provided further, that. all securities, except those having a
fixed term and rate and not in default as to principal or interest,
shall be valued according to the provisions of the laws of this
state, or the established practice in this state existing at the
time of the passage of this act. But this act shall not be con-
structed to apply to any insurance corporation authorized to do
business in this state which shall not elect to value its bonds
and other evidences of debt by amortization as herein provided.

SEC. 83. Insurance for Wife's Sole Use. Any married woman
by nerself and in her name, or in the name of any other person,
with his assent, as her trustee, may insure in any life insurance
company formed under the provisions of this article, for her
sole use, the life of her husband f or .any definite period or for
the term of his natural life; and in ease she shall survive her
husband, the sum or net amount of the insurance becoming
due and payable by the terms of the policy shall be payable
to her and for her own use, free from the claims of the rep-
resentatives of the husband or of any of his creditors: a n 3 i i
case of the death of the wife before the decease of the husband,
the amount of the insurance may be made payable, after
death, to her children for their use, and to their guardian if
under age.

SEC. 84. Misrepresentation in Application. Whenever the
application for a policy of life insurance contains a clause of
warranty of the truth of the answers therm contained, no mis-
representation or untrue statement in such application, made