572 LAWS OF MARYLAND. [CH. 288

notated Code of the Public General Laws of Maryland (Edi-
tion of 1924), title "Insurance, " sub-title "Fraternal Bene-
ficial Association, " be, and the same is hereby, repealed and
re-enacted, with amendments, so as to read as follows:

Sec. 164. PLACE OF MEETING. Any domestic
association may provide that the meetings of its legislative
or governing body may be held in any state, district, prov-
ince or territory wherein such association has subordinate
branches, and all business transacted at such meetings shall
be as valid in all respects as if such meetings were held in
this State. But its principal office shall be located in this
State except in the case of foreign associations rein-
corporated under the laws of this State as provided in
Section 162 A.

SEC. 2. And be it further enacted, That a new Section
be, and the same is hereby, added to Article 48A of Bagby's
Annotated Code of the Public General Laws of Maryland
(Edition of 1924), title "Insurance, " sub-title "Fraternal
Beneficial Associations, " to follow immediately after Sec-
tion 162 and to be known as Section 162-A, said new Section
to read as follows:

Sec. 162-A. REINCORPORATION OF FOREIGN
ASSOCIATIONS. Any fraternal beneficiary association
incorporated under the laws of any other State and
licensed to do business in this State, which has assets in
excess of the required reserve liability when, its outstand-
ing certificates or contracts are valued on the American
Experience Table of Mortality with an interest assump-
tion of not more than four per centum per annum or upon
some higher standard, may become such fraternal bene-
ficiary association incorporated under the laws of this
State with a continuation without intermission or cessa-
tion of all of its powers, rights, and privileges and of all
mutual existing corporate rights, obligations, liabilities,
powers, contracts, liens, privileges an$ duties at the time
existing between said corporation and its members. Its
officers shall be continued in office for the terms for which
they were elected, with the same rights, responsibilities,
liabilities, duties, powers, and privileges as at the time
enjoyed by and imposed upon them, it being the purpose
of this Section to extend and continue such society or asso-
ciation as such corporation of this State, the same as if it
had in all respects originally been incorporated under the
laws of this State. In order to become such a corporation