J. MILLARD TAWES, Governor                     1155

books, papers and documents that relate to the business of the
society. He may in his discretion accept, in lieu of such examination,
the examination of the Insurance Department of the state, territory,
district, province or country where such society is organized. The
compensation and actual expenses of the examiners making any
examination or general or special valuation shall be paid by the
society examined or by the society whose certificate obligations have
been valued, upon statements furnished by the Commissioner.

343.    No Adverse Publications.

Pending, during or after an examination or investigation of a
society, either domestic, foreign or alien, the Commissioner shall
make public no financial statement, report or finding, nor shall he
permit to become public any financial statement, report or finding
affecting the status, standing or rights of any society, until a copy
thereof shall have been served upon the society at its principal office
and the society shall have been afforded a reasonable opportunity to
answer any such financial statement, report or finding and to make
such showing in connection therewith as it may desire.

344.    Taxation.

Every society organized or licensed under this subtitle is hereby
declared to be a charitable and benevolent institution, and all of its
funds shall be exempt from all and every state, county, district,
municipal and school tax other than taxes on real estate and office
equipment.

345.    Misrepresentation.

No person shall cause or permit to be made, issued or circulated
in any form:

(a)   Any misrepresentation or false or misleading statement con-
cerning the terms, benefits or advantages of any fraternal insurance
contract now issued or to be issued in this State, or the financial
condition of any society;

(b)   Any false or misleading estimate or statement concerning the
dividends or shares of surplus paid or to be paid by any society on any
insurance contract; or

(c)   Any incomplete comparison of an insurance contract of one
society with an insurance contract of another society or insurer for
the purpose of inducing the lapse, forfeiture or surrender of any
insurance contract.

A comparison of insurance contracts is incomplete if it does not
compare in detail:

(1)   The gross rates, and the gross rates less any dividend or other
reduction allowed at the date of the comparison; and

(2)   Any increase in cash values, and all the benefits provided by
each contract for the possible duration thereof as determined by the
life expectancy of the insured;

or if it omits from consideration,

(3)   Any benefit or value provided in the contract; or

(4)   Any differences as to amount or period of rates; or