ALBERT C. RITCHIE, GOVERNOR. 957

tion duly incorporated under the General Laws of this
State, '' eliminating the clause limiting the amount for which
any life may be insured.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 4 of Chapter 524 of the Acts of 1898, en-
titled "An Act to extend the privileges, enlarge the powers and
amend the charter of the 'Home Friendly Society of Baltimore
City, ' a corporation duly incorporated under the General Laws
of this State, " be and it is hereby repealed and re-enacted with
amendments, to read as follows:

4. Upon producing proof to the Insurance Commissioner of
the State of Maryland, that the said corporation has accumu-
lated a guarantee fund, as aforesaid, amounting to at least the
full legal reserve required by the State of Maryland invested in
the securities of the United States, or of the State of Maryland,
or of the City of Baltimore, or in real estate situated in the
State of Maryland, satisfactory and approved by the Insurance
Commissioner of the State of Maryland, the Insurance Commis-
sioner's certificate whereof may be filed and recorded among the
corporation records of Baltimore City, said corporation shall
have the power to make all contracts whatsoever pertaining to
the business of life, health and accident insurance, which are
authorized to be made by any other insurance company doing
business in this State, the respective rights and obligations of
said corporation and of the insured, to be fully set out in the
policies or certificates to be issued by it; provided, however,
that the said corporation shall at all times maintain in said re-
serve or guarantee fund a sufficient reserve under the laws of
Maryland for all policies of life insurance issued by it which
may be outstanding.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1924.

Approved April 9, 1924.

CHAPTER 369.

AN ACT to authorize the creation of a State debt in the aggre-
gate amount of one hundred thousand ($100, 000) dollars,
the proceeds thereof to be used for a Library and Laboratory
Equipment, General Improvement and Construction, at
Washington College, and providing generally for the issue
and sale of certificates of indebtedness evidencing such loan.