ALBERT C. RITCHIE, GOVERNOR. 765

to incorporate the Imperial Life Insurance Company of Bal-
timore, " be, and the same is hereby repealed and re-enacted,
with amendments, so as to read as follows:

SEC. 2. Be it enacted by the General Assembly of Maryland,
That said corporation shall be managed by a board of three
directors, and that William T. Watson, B. Franklin Rife and
William A. Turner are the names of the directors who shall
serve for the first year or until their successors are duly elected
and qualified.

SEC. 3. And be it further enacted as aforesaid, That the
said corporation be and it is hereby authorized and empowered
to carry on and transact the industrial life, health and accident
insurance business in conformity with and subject to the pro-
visions of the General Laws of this State relating to such com-
panies, and especially in conformity with the provisions of
Sections 97, 98 and 99 of Article 48-A of Bagby's Annotated
Code that apply to companies that have converted from mut-
ual to capital stock companies with paid-up capital of ten thou-
sand dollars ($10, 000).

SEC. 4. And be it further enacted as aforesaid, That the
capital stock of said corporation shall be ten thousand dollars,
divided into ten thousand shares of the par value of one dollar
a share. Said corporation shall not issue any certificates or
contracts of insurance until the full amount of the authorized
capital stock shall have been subscribed and paid for, in cash, at
not less than par, and shall have been invested in securities ap-
proved by the State Insurance Commissioner and actually de-
posited with said Commissioner for the protection of the policy-
holders of said company. No policy or certificate shall be
issued for more than five hundred dollars ($500) death bene-
fits, or seventy-five dollars ($75) annual disability benefits on
any life or person.

SEC. 5. And be it further enacted as aforesaid, That said
corporation shall at al] times maintain the legal reserves pro-
vided in Sections 80, 81 and 99 of Article 48-A as aforesaid.

Approved April 9, 1924.

CHAPTER 251.

AN ACT to repeal and re-enact with amendments Section 283A
of Article 18 of the Code of Public Local Laws of Mary-
land, title "Queen Anne's County, " sub-title "Wild Fowl, "
as said section was amended by Chapter 768 of the Acts of