HERBERT R. O'CONOR,, GOVERNOR. . 635

stated, will be honored for a period of ninety days from the
date of issue for the purpose of taking the final examination.
A person licensed to receive instruction and qualified to take
the required examinations for the license applied for must
appear in person at the Department of Motor Vehicles in
Baltimore City; or at any of the places throughout the State
which the Department may designate for the convenience of
applicants.

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

Approved April 5, 1945.

CHAPTER 585.
(House Bill 578)

AN ACT to repeal and re-enact, with amendments, Section 151
of Article 48A of the Annotated Code of Maryland (1939
Edition), title "Insurance'', sub-title "Mutual Insurance
Companies", relating to premiums under mutual policies
and conditions under which non-assessable policies may be
written by mutual companies.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 151 of Article 48A of the Annotated Code
of Maryland (1939 Edition), title "Insurance", sub-title
"Mutual Insurance Companies", be and the same is hereby
repealed and re-enacted, with amendments, to read as follows:

151. (Premiums. ) The maximum premium, or premium de-
posit payable by any member shall be expressed in the policy
or in the application for the insurance. Such maximum pre-
mium, or premium deposit, may be a cash premium and an
additional contingent premium not less than the cash premium,
or may be solely a cash premium with no contingent premium
or liability to assessment in any event. No policy shall be
issued for a cash premium without an additional contingent
premium unless the company has a surplus which is not less
in amount than the capital stock and surplus required of
domestic stock companies transacting the same kinds of insur-
ance. In case the surplus of any mutual company writing non-
assessable policies or contracts, in compliance with the pro-
visions of this sub-title, shall become reduced or impaired in
an amount equal in amount to the impairment of domestic