J. MILLARD TAWES, Governor                     1027

same, of the United States of America, Canada, any state, District
of Columbia, territory or possession of the United States of America
or of any province of Canada, or of any county or incorporated city
of any state, District of Columbia, territory or possession of the
United States of America or of any province of Canada.

(5)   Interest bearing bonds, notes or other interest bearing obli-
gations of any corporation organized under the laws of the United
States of America or of Canada or province thereof, or under the
laws of any state, District of Columbia, territory or possession of the
United States of America. Equipment trust obligations or certifi-
cates or other secured instruments evidencing an interest in trans-
portation or other equipment wholly or in part within the United
States of America or Canada and a right to receive determined por-
tions of rental, purchases or other fixed obligatory payments for the
use or purchase of such transportation or other equipment.

(6)   Dividend paying stocks or shares of any corporation created
or existing under the laws of the United States of America, Canada
or province thereof, or of any state, District of Columbia, territory
or possession of the United States of America; provided, that, to the
extent necessary to satisfy the reserve requirements of this subtitle,
no insurer may be allowed more than 10% of its total admitted assets
in preferred stocks, nor more than 10% of its total admitted assets
in common stocks; and further provided, that no insurer may be
allowed more than 5% of its total admitted assets in the stock or
shares of any one corporation.

(7)   Loans secured by first mortgages, or deeds of trust, on unen-
cumbered fee simple or improved leasehold real estate in the District
of Columbia or in any state of the United States of America or
province of Canada, to an amount not exceeding 66⅔% of the fair
market value of such fee simple or improved leasehold real estate
except that if such fee simple or leasehold real estate is primarily
improved by a single family residence and such loans provide for
amortization of principal, such amortization payments to be made
annually or more frequently, over a period of not more than twenty-
five years, such loans may be made to an amount not exceeding 75%
of the fair market value of such fee simple or leasehold real estate.
Whenever such loans are made upon fee simple, or improved lease-
hold real estate which is improved by a building or buildings, the
said improvements shall be insured against loss by fire, and the fire
insurance policies shall contain the New York or Massachusetts
standard mortgage clause or one equivalent thereto and shall be
delivered to the mortgagee as additional security for the said loans;
and upon bonds, notes or other evidence of indebtedness secured by
mortgages or deeds of trust which are guaranteed or insured by an
instrumentality of the United States, pursuant to Acts of Congress,
as heretofore and hereafter amended, known as the National Hous-
ing Act; Servicemen's Readjustment Act of 1944; Bankhead-Jones
Farm Tenant Act; and neither the limitations of this section nor any
other law of this State requiring security upon which loans shall be
made, or prescribing the nature, amount or forms of such security,
or limiting the interest rates upon loans, shall be deemed to apply to
such insured or guaranteed mortgage loans. A POLICY INSURING
AGAINST LOSS BY FIRE AND OTHER COVERAGES SHALL
BE DEEMED TO MEET THE REQUIREMENTS OF THIS SUB-
SECTION.