HERBERT R. O'CONOR, GOVERNOR. 149

and adding thereto all debts and claims against it, finds the
statutory minimum surplus of such company impaired to the
extent of fifty per cent, he shall give notice to the company
to restore its surplus to the statutory minimum required
by this Article within sixty days; and if this is not done
he shall require the company to cease to do new business
within this State; and shall thereupon, in case the company
is organized under the authority of this State, immediately
institute such legal proceedings as are necessary to protect
the rights of all persons in said company.

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

Approved March 8, 1945.

CHAPTER 190.

(House Bill 31)

AN ACT to repeal and re-enact, with amendments, Section 102
of Article 48A of the Annotated Code of Maryland (1939
Edition), title "Insurance", sub-title "Fire Insurance", re-
lating to the impairment of the surplus of fire, inland marine
and marine insurance companies.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 102 of Article 48A of the Annotated Code of
Maryland (1939 Edition), title "Insurance", sub-title "Fire
Insurance", be and the same is hereby repealed and re-enacted,
with amendments, to read as follows:

102. (Impairment of Surplus of Fire and Marine Com-
panies. ) Having charged the company the reinsurance reserve
as above determined, for fire, inland and marine insurance,
and adding thereto all debts and claims against it, the Com-
missioner shall, in case he finds the statutory minimum sur-
plus of the company impaired to the extent of fifty per cent.,
give notice to the company to restore its surplus to the statu-
tory minimum required by this Article within sixty days;
and if this is not 'done he shall require the company to cease to
do new business within this State; and shall thereupon, in case
the company is organized under the authority of this State,
immediately institute such legal proceedings as are necessary
to protect the rights of all persons in said company.

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

Approved March 8, 1945.