588                         LAWS OF MARYLAND.                  [CH. 214

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1st, 1931.

Approved April 6, 1931.

CHAPTER 214.

A]ST ACT to repeal and re-enact, with amendments^ Section 17
of Article 48A of the 1929 Supplement to the Annotated
Code of the Public General Laws of Maryland, entitled
"Insurance, " sub-title "General Provisions, " relating to the
capital stock and surplus of insurance companies.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 17 of Article 48A of the 1929 Supple-
ment to the Annotated Code of the Public General Laws of
Maryland, entitled "Insurance, " sub-title "General Provisions, "
be, and the said is hereby repealed and re-enacted, with amend-
ments, so as to read as follows:

17. Capital Stock and Surplus. The capital stock of any
insurance company incorporated under the laws of this State,
with the exception of mutual insurance companies and indus-
trial life insurance companies falling within the class of com-
panies embraced within the provisions of Sections 98, 99 and
100, shall not be less than one hundred thousand dollars, all of
one class and all having a fixed nominal or par value, and every
such company must have approved assets of at least one hun-
dred thousand dollars in excess of its capital stock, reserves and
all other liabilities. The capital stock of any company writing
fidelity or surety bonds, or liability or workmen's com-
pensation insurance, shall not be less than two hundred and
fifty thousand dollars, and every such company must have ap-
proved assets of at least one hundred and twenty-five thousand
dollars in excess of its capital stock, reserves and all other
liabilities.

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1st, 1931.

Approved April 6, 1931.