1194 LAWS OF MARYLAND. [CH. 492

upon only such members as are1 liable to assessment in pro-
portion to their several liabilities expressed in their policies.
Each member shall be liable only on account of losses and ex-
penses incurred while his policy was in force, and he shall be
notified of such assessment within one year after the termina-
tion of such policy; provided, that the commissioner by written
order, may relieve the company from an assessment or other
proceeding to restore such assets during the time fixed in such
order; and provided, that any domestic company which shall
be deficient in providing the unearned premium reserve re-
quired hereby, may notwithstanding such deficiency, come
under this act on the conditon that it shall each year thereafter
reduce such deficiency by at least fifteen per cent, of the
original amount thereof, and in such case it may increase its
assessments accordingly.

SEC. 119. Loans for Business Purposes. Any director, offi-
cer or member of any such company, or any other person, may
advance to such company any sum or sums of money necessary
for the purpose of its business, or to enable it to comply with
any surplus requirements, or any other requirements of the law,,
and such moneys, and such interest thereon as may have been
agreed upon, not exceeding six per cent, per annum, shall be
payable only out of the surplus remaining after providing for
all reserves and other liabilities, and shall not otherwise be a
liability or claim against the company or any of its assets. No
commission or promotion expenses shall be paid in connection
with the advance of any such money to the company, and the
amount of such advance shall be reported in each annual state-
ment.

SEC. 120. Admission of Foreign Companies. Any mutual
insurance company organized outside of this state and author-
ized to transact the business of insurance on the mutual plan
in this state, shall be admitted and licensed, subject to the ap-
proval of the state insurance commissioner, as aforesaid, to
transact the kinds of insurance authorized by its charter or
aricles of incorporation to the extent and with the powers and
privileges specified under this sub-title, and when it shall be
solvent under said sub-title and shall have complied with the
following requirements:

(a) Filed with the insurance commissioner a certified copy of
its charter or articles and a certificate of the supervising insur-
ance official of the state in which it is incorporated, that it is