176 LAWS OF MARYLAND. [CH. 40

51H. Whenever proceedings in rehabilitation shall have
been commenced under Section 51B of this Article, all
wages actually owing to clerical employees of the company
for services rendered within three months prior to the
commencement of such proceedings, not exceeding three
hundred dollars to each employee, shall be paid prior to the
payment of every other debt or claim and, subject to the
direction of the court, shall be paid as soon as possible
after the proceeding has been commenced. Provided, how-
ever, at all times sufficient funds shall be reserved for the
expenses of administration.

511. The Commissioner may, subject to the approval of
the court, sell or otherwise dispose of the real and personal
property of the company, or any part thereof, or any in-
terest therein, or any other assets of the company against
which a proceeding is pending under Section 5 IB of this
Article, and may sell or compound all doubtful or uncollec-
tible debts or claims owing to such company, including but
not limited to claims based upon assessments levied against
members of mutual insurance companies.

51J. For the purpose of facilitating the rehabilitation
of companies under Section 51B of this Article the Com-
missioner may, subject to the approval of court, borrow
money and execute, acknowledge and deliver notes or other
evidences of indebtedness therefor, and may secure the re-
payment of the same by mortgage, pledge> assignment,
transfer in trust, or hypothecation of any or all of the
property, whether real, personal, or mixed, of a company
which is the subject of a proceeding under Section 51B of
this Article and the Commissioner, subject to the approval
of the Court, shall have the power to take any and all ac-
tion necessary and proper to consummate any such loans
and to provide for the repayment thereof. The Commis-
sioner shall be under no obligation personally, or in his
official capacity as Insurance Commissioner to repay any
loan made pursuant to this Section.

Section 51K. Within one year from the date of the entry
of an order of rehabilitation of a domestic mutual insur-
ance company, the Commissioner shall make a report to the
court setting forth the reasonable value of the assets of
the company, its probable liabilities, and the probable nec-
essary assessment, if any, to pay all allowed claims in full.

Upon the basis of such report, including any amendments
thereof, the court may levy one or more assessments