292 LAWS OF MARYLAND. [CH. 330

588. (1) The Mayor and Common Council shall have
power to levy, on or before the first Monday of June in
each year, the tax year commencing on the first day of
July, a tax not to exceed twenty-five (25c) cents per one
hundred dollars ($100. 00) assessed value based upon the
State and county assessments on all real and personal
property as the needs of the town may require, but twenty
per cent. (20%) of the proceeds from such tax shall be
used for the maintenance of the Fire Department. Pro-
vided, however, that the Mayor and Common Council shall
have the power by ordinance to exempt not exceeding
$500. 00 of household goods of each person from taxation.
Such tax shall be in default after the first day of October
of each year and shall thereafter bear interest at one per
centum (1%) per month until paid. The Treasurer of
said town shall calculate the amount of taxes due by each
person and shall render a bill to the address given on such
lists of assessments either by depositing the same in the
mail or otherwise, or if the address of any such person is
unknown, to the best address ascertainable. All taxes on
real estate not paid by the first day of January next suc-
ceeding their levy shall be collected as provided by Article
81 of the Annotated Code of Maryland.

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

Approved March 24, 1945.

CHAPTER, 330.

(House Bill 30)

AN ACT to repeal and re-enact, with amendments, Section 125
of Article 48A of the Annotated Code of Maryland (1939
Edition), title "Insurance", sub-title "Life, Accident and
Health Insurance", relating to the impairment of the sur-
plus of life insurance companies.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 125 of Article 48A of the Annotated Code of
Maryland (1939 Edition), title "Insurance", sub-title "Life,
Accident and Health Insurance", be and the same is hereby
repealed and re-enacted with amendments, to read as follows:

125. (Impairment of Surplus. ) In case it is found that
any life insurance company doing business in this State has