HERBERT R. O'CONOR, GOVERNOR. 329

amount of at least twenty thousand dollars. All such com-
panies formed on the capital stock plan, shall before being
entitled to receive a certificate of authority to transact such
business, have a paid-up capital of at least one hundred thou-
sand dollars, and all such companies, whether formed on the
mutual, co-operative, assessment or capital stock plan, shall
be possessed of and constantly maintain a sum of money not
less in amount than one hundred thousand dollars, or interest
or dividend-paying securities of equal market value, not in
default, which shall be deposited with the Treasurer of the
State of Maryland as provided by Section 20, provided, how-
ever, that this section shall not apply to any company author-
ized to do business in this State on January 1, 1943.

SEC. 2. And be it further enacted, That this A^t shall take
effect June 1, 1943.

Approved April 30, 1943.

CHAPTER 310.
(House Bill 49)

AN ACT to repeal and re-enact, with amendments, Sub-section
(m) of Section 92A of Article 48A of Flack's Annotated
Code of Maryland (1939 Edition), title "Insurance", sub-
title "Agents and Brokers", as enacted by Chapter 636 of
the Acts of 1941, more clearly defining the classes of persons
entitled to receive license without examination to act as
public fire adjuster or public fire adjuster's solicitor.

SECTION 1. Be it enacted by the General Assembly of Mary*
land, That Sub-section (m) of Section 92A of Article 48A of
Flack's Annotated Code of Maryland (1939 Edition), title
"Insurance", sub-title "Agents and Brokers", as enacted by
Chapter 636 of the Acts of 1941 be and the same is hereby
repealed and re-enacted, with amendments, to read as follows:

92A. (m) The State Insurance Commissioner shall issue a
public adjuster's certificate without examination to any per-
son who has resided in the State of Maryland and who has had
an office and practiced public adjusting of claims of all classes
for losses or damages arising out of policies of fire and allied
lines of insurance as his principal occupation in the State of
Maryland for a period of two years, or to any person who has
practiced public adjusting in the State of Maryland in the
employment of another public adjuster as above defined for a
period of two years prior to June 1, 1941.