1160                           LAWS OF MARYLAND                      [CH. 553

them, shall be governed and regulated by the provisions of this sub-
title, and by no other law relating to insurance unless such law is
referred to under this subtitle, and no law hereafter enacted shall
apply to such corporations.

355. License.

(a)   Required; Contents of Application.

No corporation subject to the provisions of this subtitle shall issue
contracts for the rendering of hospital, medical or dental service to
subscribers until the Commissioner, has, by formal certificate or
license, authorized it to do so. Application for such certificate of
authority or license shall be made on forms to be supplied by the
Commissioner, containing such information as he shall deem neces-
sary. Each application for such certificate of authority or license, as
a part thereof, shall be accompanied by copies of the following docu-
ments, duly certified by at least two (2) of the executive officers of
such corporation:

(1)   Certificate of incorporation, with all amendments, thereto;

(2)   Bylaws, with all amendments thereto;

(3)   Each contract executed or proposed to be executed by and
between the corporation and any hospital, physician or dentist,
embodying the terms under which hospital, medical or dental service
is to be furnished to subscribers to the plan;

(4)   Each form of contract issued or proposed to be issued to sub-
scribers to the plan, together with a table of the rates charged, or
proposed to be charged, to subscribers for each form of such
contract;

(5)   Financial statement of the corporation, which shall include
the amount of each contribution paid or agreed to be paid to the
corporation for working capital, the name or names of each con-
tributor and the terms of each contribution.

(b)   Requisites to issuance.

The Commissioner shall issue a certificate of authority to each
applicant upon the payment of the fee provided for by section 41
of this article and upon being satisfied:

(1) That the applicant has been organized bona fide for the pur-
pose of establishing, maintaining and operating a nonprofit health
service plan;

(2)   That each contract executed, or proposed to be executed, by
the applicant and any hospital, physician or dentist for the furnish-
ing of hospital, medical or dental service to the subscribers to the
health service plan obligates, or will, when executed, obligate each
hospital, physician or dentist party thereto to render the service to
which each subscriber may be entitled under the terms and condi-
tions of the various contracts issued, or proposed to be issued, by
the applicant to subscriber to the plan;

(3)   That each contract issued, or proposed to be issued, to sub-
scribers to the plan is in a form approved by the Commissioner, and
that the rates charged, or proposed to be charged, for each form of
such contract are fair and reasonable;