HERBERT R. O'CONOR, GOVERNOR. 745

he of a character conformable to the requirements of Section
25 of this Article and may also include deposit of life insurance
policies issued by life insurance companies acceptable to the
Insurance Commissioner of Maryland up to their cash sur-
render value. The attorney-in-fact shall file with the Commis-
sioner an authenticated copy of each trust agreement under
which any such deposit is made. All such deposits shall be
considered as admitted assets of such Lloyd's. No change or
withdrawal of cash or securities deposited in trust shall be
made without the approval of the Commissioner, in accordance
with the terms of the trust agreement and the power-of-
attorney of the Lloyd's filed with the Insurance Commis-
sioner.

103J. Maximum Single Risk.

(1) The net maximum amount of insurance to be assumed
by a domestic Lloyd's upon any single risk for each kind of
insurance shall not exceed 10 per centum of the value of the
cash and securities deposited in trust by the underwriters com-
prising the Lloyd's.

(2) Whenever the Commissioner shall so require, the
attorney-in-fact of a domestic Lloyds shall file with the Com-
missioner a verified statement setting forth:

(a) the names and addresses of all underwriters;

(b) a description of the cash and securities deposited in
trust by each underwriter;

(c) the maximum amount of insurance assumed by the
underwriters upon any single risk for each kind of insur-
ance; and the maximum amount of insurance assumed upon
any single risk for each kind of insurance by the under-
writers which shall not exceed the limitation set forth in
Sub-section (1) of this section.

103K. Minimum Admitted Assets Required of Domestic
Lloyds. Each domestic Lloyds shall at all times keep and
maintain admitted assets (including the deposits of under-
writers required by Section 103-1) which shall be not
less than the minimum capital and surplus required of stock
insurance companies writing the same class or kinds of in-
surance.

103L. Minimum Surplus Required of Domestic Lloyds. The
aggregate of the amounts on deposit of all underwriters and
all other admitted assets of each domestic Lloyds available
for the payment of losses exceeding all outstanding claims and
other liabilities, including the unearned premiums (less rein-
surance premiums) on the policies in force, shall at all times
be at least five times the amount to be assumed by such Lloyds
(net not including reinsurance in licensed insurers), upon a