HERBERT R. O'CONOR, GOVERNOR. 145

ing, backing, or any other indication of the contents of any
or all of its provisions which is likely to mislead the certificate
holder.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1945.

Approved March 8, 1945.

CHAPTER 187.
(House Bill 17)

AN ACT to repeal and re-enact, with amendments, Section 148
of Article 48A of the Annotated Code of Maryland (1943
Supplement), title "Insurance", sub-title "Mutual Insurance
Companies", relating to the qualification of mutual insurance
companies, other than life, prior to doing business.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 148 of Article 48A of the Annotated Code of
Maryland (1943 Supplement), title "Insurance", sub-title
"Mutual Insurance Companies", be and the, same is hereby re-
pealed and re-enacted, with amendments, to read as follows:

148. (Requirements Prior to Doing Business. ) No company
organized under this sub-title shall issue policies or transact
any business of insurance unless it shall comply with the con-
ditions following, nor until the Insurance Commissioner has,
by formal license, authorized it to do so, and such license shall
not issue until the Insurance Commissioner shall have ascer-
tained from the best sources of information at his command,
and by such investigation as he may deem necessary, and shall
be satisfied that the character, responsibility and general fit-
ness of the persons named as officers and directors of said com-
pany, are such as to command confidence and warrant 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 business in this State,
and until the company shall have complied with the following
conditions:

(a) It shall hold bona fide applications for insurance upon
which it shall issue simultaneously, or it shall have in force,
at least twenty policies to at least twenty members for the
same kind of insurance, upon not less than two hundred sepa-