620 LAWS OF MARYLAND. [CH. 569

son who is willing to assume the obligation imposed under this
Article upon a person signing the application of a minor. The
Department shall clearly set forth on the application the
responsibilities assumed under this section.

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

Approved April 5, 1945.

CHAPTER 569.
(House Bill 437)

AN ACT to repeal and re-enact, with amendments, Section
21 of Article-48A of the Annotated Code of Maryland (1939
Edition), title "Insurance", sub-title "General Provisions",
relating to deposits required of foreign insurance com-
panies writing life, health, accident, liability, compensation
or casualty insurance, or fidelity or surety bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 21 of Article 48A of the Annotated Code
of Maryland (1939 Edition), title "Insurance", 'sub-title "Gen-
eral Provisions", be and the same is hereby repealed and re-
enacted, with amendments, to read as follows:

21. (Deposit of Securities by Foreign Companies. ) Every
foreign company writing life, health, accident, liability, com-
pensation or casualty insurance, or fidelity or surety bonds,
shall, before being entitled to receive a license to do any
business of insurance in this State, have on deposit with some
proper official of the State where incorporated or organized, or
in some other State of the United States, in trust as security
for all the holders of policies of said company, coin, notes or
securities authorized by the insurance laws of the State where
incorporated or organized, and approved by the proper official
thereof and having authority therefor, in an amount not less
than that required of companies doing the same class or classes
of business by the laws of this State to be deposited with the
Treasurer of this State, and furnish this Department with a
certificate to this effect, and such certificate shall be renewed
annually.

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

Approved April 5, 1945.