1166                           LAWS OF MARYLAND                       [CH. 553

effect as of a date more than six months before the application there-
for was made, if thereby the premium on such policy is reduced
below the premium which would be payable thereon as determined
by the insuring age of the insured at the time when such appli-
cation was made. No agent or other representative of an insurer
shall in this State prepare, submit or accept any application for life
insurance which bears a date earlier than the date when such appli-
cation was made by the insured or applicant, if thereby the premium
on such contract is reduced as above stated. Nothing contained in
this section shall invalidate any contract made in violation of this
section. This section shall not be construed to prohibit the exchange,
alteration or conversion of any policy of life insurance.

374.    Representations in Applications.

All statements and descriptions in any application for a life or
health insurance policy or annuity contract, or for the reinstatement
or renewal thereof, by or in behalf of the insured or annuitant, shall
be deemed to be representations and not warranties. Misrepresenta-
tions, omissions, concealment of facts, and incorrect statements shall
not prevent a recovery under such policy or contract unless either:

(1)   Fraudulent; or

(2)   Material either to the acceptance of the risk, or to the hazard
assumed by the insurer; or

(3)   The insurer in good faith would either not have issued, rein-
stated, or renewed the policy or contract, or would not have issued a
policy or contract in as large an amount, or at the same premium or
rate, or would not have provided coverage with respect to the hazard
resulting in the loss, if the true facts had been made known to the
insurer as required either by the application for the policy or contract
or otherwise.

375.    Filing, Approval of Forms.

(a)   No life or health insurance policy or annuity contract form,
or application form where written application is required and is to
be made a part of such policy or contract, or rider or endorse-
ment form, shall be delivered, or issued for delivery in this State,
unless the form has been filed with and approved by the Commis-
sioner. This provision shall not apply to riders, endorsements, or
forms of unique character designed for and which relate to the
manner of distribution of benefits or to the reservation of rights and
benefits under such policies or contracts and are used at the request
of the individual policyholder, contract holder, or certificate holder.

(b)   Every such filing shall be made not less than thirty (30)
days in advance of any such delivery. At the expiration of such thir-
ty (30) days the form so filed shall be deemed approved unless prior
thereto it has been affirmatively approved or disapproved by order
of the Commissioner. Approval of any such form by the Commis-
sioner shall constitute a waiver of any unexpired portion of such
waiting period. The Commissioner may extend by not more than an
additional thirty (30) days the period within which he may so af-
firmatively approve or disapprove any such form, by giving notice
of such extension before expiration of the initial thirty (30) day
period. At the expiration of any such period as so extended, and in