234 LAWS OF MARYLAND. [CH. 273

nominal or par value, and every such company must have
approved: assets of at least one hundred thousand dollars
($100, 000) in excess of its capital stock, reserves and all other
liabilities. The capital stock of any company authorized to
write (d) fidelity or surety bonds, or motor vehicle liability,
or general public liability, or workmen's compensation insur-
ance, shall not be less than two hundred and fifty thousand
dollars ($250, 000), and every such company must have ap-
proved assets of at least one hundred and twenty-five thousand
dollars ($125, 000), in excess of its capital stock, reserves and
all other liabilities. The capita! stock of any company author-
ized to write any of the classes of insurance referred to above
under (b) combined with any of the classes above referred
to under (c), shall have a capital stock of not less than two
hundred thousand dollars ($200, 000) and approved assets of
at least two hundred thousand dollars ($200, 000), in excess
of its capital stock, reserves and all other liabilities. The
capital stock of any company authorized to write any or all
of the classes referred to above under (b) or (c), combined
with any or all of the classes referred to under (d), shall have
a capital stock of not less than three hundred and fifty thou-
sand dollars ($350, 000) and approved assets of at least two
hundred and twenty-five thousand dollars ($225, 000) in excess
of its capital stock, reserves and all other liabilities. Pro-
vided, however, that this section shall not require any com-
pany which was authorized to do business in this State on
January 1, 1945, the capital and surplus of which then met the
requirements of the statutes of this State at that time in
effect, to increase its capital or surplus to the minimum
amounts required by this section.

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

Approved March 16, 1945.

CHAPTER 273.
(House Bill 71)

AN ACT to add a new section to Article 48A of the Annotated
Code of Maryland (1939 Edition), title "Insurance", sub-title
"General Provisions", said new section to follow immediately
after Section 49 and to be known as Section 49A, relating
to reinsurance of all of the outstanding policies of one com-
pany by or with another company.