1340                        LAWS OF MARYLAND.                  [CH. 530

CHAPTER 530.

AN ACT to add sixteen new sections to Article 48A of the
Annotated Code of the Public General Laws of Maryland
(Edition of 1924 and 1929 Supplement thereto), entitled
"Insurance, " said new sections to be placed under the sub-
title "Installment Accumulation Contracts, " and to be
known as Sections 184, 185, 186, 187, 188, 189, 190, 191,
192, 193, 194, 195, 196, 197, 198 and 199, respectively.

SECTION 1. Be it enacted by the General Assembly of
Maryland^ That sixteen new sections be, and the same are
hereby added to Article 48A of the Annotated Code of the
Public General Laws of Maryland (Edition of 1924 and 1929
Supplement thereto), entitled "Insurance, " said new sections
to be placed under the sub-title "Installment Accumulation
Contracts, " and to read as follows:

184.     Definitions. Whenever used in this sub-title the
following shall be construed as follows:

The term "company" when used in this sub-title shall be
deemed to include any individual, firm, partnership, associa-
tion, trust, including a common law trust, corporation hereto-
fore or hereafter formed under the laws of this State or any
other State or territory of the United States or any foreign
State or country.

The term "contract" when used in this sub-title shall include
any bond, note, certificate, obligation, annuity agreement or
passbook evidenced by writing, or other agreement to pay
money.

The term "Commissioner" when used in this sub-title shall
mean the Insurance Commissioner of the State of Maryland.

185.    Licenses. No company shall hereafter engage or con-
tinue, either directly or indirectly, in the business of issuing,
negotiating, offering for sale or selling any contract payable
on the installment plan, with or without definite maturity
dates, which contracts contemplate the accumulating of money
or funds for making loans or investments and undertaking or
agreeing to pay or deliver at any future time any sum of money,
contract, or other thing of value, without first having obtained
a license as provided in this sub-title.

Every company desiring to obtain a license under the pro-
visions of this sub-title shall file with the Commissioner an