192 LAWS OF MARYLAND [CH. 49

of December, in the year nineteen hundred and eighteen,
shall be the American Experience Table of Mortality, with
interest at three and one-half per centum per annum, ac-
cording to the level net premium method or in accordance
with their terms by the modified preliminary term method
hereinabove described, provided, that any company may
value its industrial policies on the basis of the Standard
Industrial or the Sub-standard Industrial Mortality Table,
or such other table or tables of Mortality as may be ap-
proved by the Commissioner, according to the level net
premium method or in accordance with their terms by the
modified preliminary term method hereinabove described.

The Commissioner may, in his discretion, upon the re-
quest of any life insurance company so reporting to him,
cause the net value of all or any number of policies in force
in such company to be calculated upon a higher basis of
reserve than that prescribed above by the assumption of a
lower rate of interest than that prescribed, or the assump-
tion of a higher rate of mortality by the substitution of the
Actuaries' Table for the American Experience Table of
Mortality or otherwise as the circumstances of the case may
require; provided, that in no case shall the net value so
ascertained and taken as a basis of reserve be less than that
determined by the standard of valuation above prescribed;
and in every certificate of the valuation of policies issued
by the Commissioner the basis upon which the valuation is
calculated shall be stated.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1954.

Approved March 12, 1954.

CHAPTER 49
(House Bill 54)

AN ACT to repeal and re-enact, with amendments, Section
35 (2) of Article 101 of the Annotated Code of Mary-
land (1951 Edition), title "Workmen's Compensation",
sub-title "Claims and Compensation; Benefits", increas-

EXPLANATION : Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.