1466 LAWS OF MARYLAND. [CH. 836

of said classes of insurance combined, be equal to not less
than twice the maximum single risk assumed subject to one
fire or to one loss, not less than ten thousand dollars ($10, 000);
(3) in case of companies writing fidelity or surety bonds, or
workmen's compensation, or automobile liability (other than
taxi-cab liability in Baltimore City, or long haul truck lia-
bility), or public liability insurance, be equal to not less than
five times the maximum single risk assumed, nor less than
one hundred and fifty thousand dollars ($150, 000), and exceed
the amount required for legal reserves and all other liabilities
by not less than fifty thousand dollars ($50, 000); (4) in case
of companies writing taxi-cab liability insurance in Baltimore
City, or long haul truck liability insurance, be equal to not
less than ten times the maximum single risk assumed, nor less
than two hundred and fifty thousand dollars ($250, 000), and
exceed the amount required for legal reserves and all other
liabilities by not less than fifty thousand dollars ($50, 000);
provided, however, that companies licensed in this State under
the provisions of Sub-division (4) of this section, prior to the
effective date of this Act, shall not be required to meet the
surplus requirements of this Act before June 1, 1942, or be
required to have assets in excess of one hundred and fifty
thousand dollars ($150, 000) prior to June 1, 1943; and (5) in
case of companies writing all other classes of insurance, be
equal to not less than twice the maximum single risk assumed,
not less than ten thousand dollars ($10, 000); or, in lieu of com-
plying with this sub-section and with sub-section (a) of this
section, it shall hold a surplus equal to the capital stock and
surplus required of a stock insurance company effecting the
same kinds of insurance.

157. Admission of Foreign Companies. Any mutual insur-
ance company organized outside of this State and authorized
to transact the business of insurance on the mutual plan in
this State, provided the Insurance Commissioner shall have
ascertained from the best sources of information at his com-
mand, and by such investigation as he may deem necessary,
and shall be satisfied that the character, responsibility and
general fitness of the persons, named as officers and directors
of said company, are such as to command confidence and war-
rant belief that the business of the company will be honestly
and efficiently conducted in accordance with the intent and
purposes of this Article, and that the public interest will not
be jeopardized by admitting said company to engage in busi-
ness, in this State, shall be admitted and licensed, subject to
the approval of the Insurance Commissioner, as aforesaid,
to transact the kinds of insurance authorized by its charter
or articles of incorporation to the extent and with the powers