HERBERT R. O'CONOR, GOVERNOR. 747

103N. Restriction upon Foreign Lloyds.

(1) Each foreign Lloyds authorized to transact business in
this State shall:

(a) maintain cash and securities, including the deposits
of its underwriters, of a character conformable to the re-
quirements of Section 25 of this Article for domestic com-
panies, at least equal at all times to the minimum admitted
assets required by this sub-title for a domestic Lloyds doing
the same kind or kinds of business, and furnish the Com-
missioner at the time of its application for admission and
renew annually a certificate from the proper official of its
home State that it has the amount and character and assets
and deposit in its home State equal to the requirements
of this sub-title applicable to domestic Lloyds, and a surplus
to policyholders not less than the capital and surplus re-
quired of foreign stock insurance companies writing the same
classes of insurance in this State.

(b) file with the Commissioner an authenticated copy of
its power of attorney and authenticated copy of the trust
agreement or other agreement under which deposits made
by underwriters are held;

(c) notify the Commissioner forthwith of any amendment
to its power of attorney, deposit agreement or other docu-
ments underlying its organization, by filing with the Com-
missioner an authenticated copy of such document as
amended.

(d) notify the Commissioner forthwith of any change in
its name or change of attorney-in-fact or change of address
of its attorney-in-fact.

(2) A foreign Lloyds shall not establish branches under
other or different names or titles.

(3) Each such foreign Lloyds shall be subject to all limita-
tion of risk provisions imposed by this sub-title upon domestic
Lloyds.

(4) There shall be filed with the Commissioner by the attor-
ney-in-fact of such foreign Lloyds at the time of filing the
annual statement, or more often if required by the Commis-
sioner, a statement verified by the appropriate official of such
Lloyds, setting forth:

(a) the names and addresses of all underwriters of such
Lloyds;

(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 that the maximum amount of insurance assumed
upon any single risk for each kind of insurance by all under-