360 * LAWS OF MARYLAND. [CH. 149

SEC. 2. And be it further enacted, That this Act shall
take effect on June 1, 1935.

Approved: May 17, 1935.

CHAPTER 149.

AN ACT to repeal and re-enact, with amendments, Section
28 of Article 48A of the Code of Public General Laws of
Maryland, title "Insurance, " sub-title "General Provi-
sions, " as enacted by Chapter 161 of the Acts of 1924,
relating to requirements for the admission of foreign in-
surance companies.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 28 of Article 48A of the Code of
Public General Laws of Maryland, title "Insurance, " sub-
title "General Provisions, " as enacted by Chapter 161 of
the Acts of 1924, be and the same is hereby repealed and
re-enacted, with amendments, so as to read as follows:

28. ADMISSION OF FOREIGN COMPANIES. No
foreign insurance company shall, directly or indirectly,
transact any business of insurance in this State unless and
until it shall be fully organized and possessed of the
amount of capital and surplus required of similar com-
panies formed under the laws of this State, and until the
following conditions shall have been fully complied with
and there shall have been granted by the Commissioner a
license to said company. There shall be filed with the
Insurance Commissioner, first, a copy of its charter, dec-
laration of organization or deed of settlement, duly cer-
tified by the proper official of its home State, with his cer-
tificate that said company is entitled to assume risks and
issue policies therein; secondly, a power of attorney ap-
pointing the Insurance Commissioner of the State of Mary-
land as agent or attorney for the company, upon whom pro-
cess of law may be served, together with a certified copy of
the vote or resolution of the directors appointing such at-
torney. Said writing or power of attorney shall stipulate and
agree, on the part of the company making the same, that
any lawful process against said company which is served
on such agent, shall be of the same legal force and validity
as if served on such company within this State, and also,