HERBERT R. O'CONOR, GOVERNOR. 955

SEC. 3. And be it further enacted, That in the event any
provision, clause,. sentence, phrase, or part of this Act, shall
be found to be invalid by any court of competent jurisdiction,
the remainder of said Act shall continue in full force and
effect.

SEC. 4. And be it further enacted, That this Act shall take
effect June 1, 1943.

Approved May 4, 1943.

CHAPTER 701.
(House Bill 48)

AN ACT to repeal Section 49 of Article 48A of the Annotated
Code of Maryland (1939 Edition), title "Insurance", sub-
title "General Provisions", and to enact a new Section 49 in
lieu thereof, relating to the consolidation and merger of
insurance companies.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 49 of Article 48A of the Annotated Code of
Maryland (1939 Edition), title "Insurance", sub-title "General
Provisions", be and it is hereby repealed, and that a new Sec-
tion 49 be and it is hereby enacted in lieu thereof, to read as
follows:

49. CONSOLIDATION AND MERGER OF COMPANIES. Sections 33
to 37, inclusive, of Article 23 shall apply to the consolidation
and merger of domestic insurance companies and domestic
and foreign insurance companies, but every agreement of con-
solidation of insurance companies thereunder and. every agree-
ment of merger of insurance companies thereunder shall be
submitted to the Insurance Commissioner for examination and
by him endorsed as being in accordance with the provisions of
this Article and not inconsistent with the laws and Constitu-
tion of this State, before the same may be received by the State
Tax Commission for record, and no such agreement of con-
solidation and no such agreement of merger shall be operative
until all the provisions of this section shall have been complied
with.

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

Approved May 4, 1943.