ALBERT C. RITCHIE, GOVERNOR.                1343

application in writing in such form as may be prescribed by
him. In case of a foreign company there shall be filed with
the Commissioner a copy of its charter, declaration of organi-
zation or deed of settlement, if there be such, duly certified by
the proper officer of its home state. Such foreign company
shall also file with the Commissioner a power of attorney, ap-
pointing the Insurance Commissioner of the State of Mary-
land as agent or attorney for the company, upon whom process
of law may be served, together in the case of a company having
directors with a certified copy of the vote or resolution of the
directors appointing such attorney. Said writing or power
of attorney shall stipulate and agree on the part of the com-
pany 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 that in the case of death or absence of the
attorney so appointed, service of process may be made upon
the Deputy Insurance Commissioner. Said power of attor-
ney cannot be revoked or modified, so long as any obligations
of the company remain outstanding in this State. The term
"process" used above shall be held and deemed to include any
writ, summons or order whereby any action, suit or proceeding
shall be commenced or which shall be issued in or upon any
action, suit or proceeding by any court, officer or magistrate.
Every company shall further file with the Commissioner a
statement of the condition of the company on the 31st day of
December next preceding.                                    *

Before a license shall be issued by said Commissioner, he
shall make or cause to be made an investigation of the con-
ditions and affairs of the applicant and its general plan of
operation. If the Commissioner is satisfied that the company
is sound and is being operated in such a manner as to afford
proper protection to the holders of its contracts heretofore or
hereafter entered into, he shall issue a license to said com-
pany authorizing said company to solicit, negotiate, sell and
dispose of its contracts in the State of Maryland until July
first next following, which said license may be renewed from
year to year by the Commissioner upon payment by the com-
pany of the fees hereinafter provided for in this sub-title. If
the Commissioner is not satisfied that the applicant company
is sound or that it is being conducted in such a way as to afford
proper protection to holders of contracts heretofore or here-
after entered into, he shall forthwith notify the applicant to