290 LAWS OF MARYLAND. [CH. 99

the holders of policies of said company, bonds,
coin or treasury notes of the United States of
America, bonds of the State of Maryland or of any county
or municipal corporation of this State, or of the Home
Owners Loan Corporation, a corporation created under an
Act of the Congress of the United States, approved June
13, 1933, or interest-paying first mortgage bonds of such
electric railways of this State, ground rents, first mort-
gages and/or interest-paying bonds secured by first mort-
gage or unencumbered real estate situated in this State,
worth at least double the amount loaned thereon, and not
in default, as may be approved by the Board of Public
Works, having a market value not less than one hundred
thousand dollars.

21. DEPOSIT OF SECURITIES BY FOREIGN COM-
PANIES. Every foreign company writing life, health, ac-
cident, liability, compensation or casualty insurance, or
fidelity or surety bonds, shall, before being entitled to re-
ceive a license to do any business of insurance in this State,
assign to and deposit with the treasurer of the State of
Maryland, in trust, as security for all the holders of policies
of said companies within this State, bonds, coin
or treasury notes of the United States of Amer-
ica, or securities of the same kind and in the same amount
as required by Section 19 and 20 of domestic companies
doing the same class of business, unless said companies
shall have deposited with some proper official of the state
where incorporated or organized, or in some other State
of the United States, in trust as security for all the
holders of policies of said company in the United
States of America, coin, notes or securities author-
ized by the insurance laws of the State where incorporated
or organized, and approved by the proper official thereof
and having authority therefor, to an amount not less than
that required of companies doing the same class of busi-
ness by the laws of this State to be deposited with the
treasurer of this State.

SEC. 2. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
the immediate preservation of the public health and safety
and being passed by a yea and nay vote, supported by
three-fifths of all the members of the two Houses of the
General Assembly, the same shall take effect from the date
of its passage.

Approved December 15, 1933.