J. MILLARD TAWES, Governor                     1215

courts, judges, heads of departments, boards, bodies, municipalities,
and public officers of every character shall accept and treat accord-
ingly such bond, undertaking, obligation, recognizance or guaranty
when so executed by such insurer, as conforming to and fully and
completely complying with every such requirement of every such
law, charter, ordinance, rule or regulation.

484.    Release from Liability on Bonds.

A surety insurer may be released from its liability on a bond re-
ferred to in section 483 of this subtitle upon the same terms and
conditions as are by law prescribed for the release of individual
sureties.

485.    Certificate of Authority; Evidence.

A valid subsisting certificate of authority or duly certified copy
thereof issued by the Commissioner to a surety insurer shall be ac-
cepted as evidence of qualification to become sole surety on all bonds,
undertakings, recognizances and obligations required or permitted
by law, or in the charter, ordinances, rules or regulations of any
municipality, board, organization, court, judge, or public officer,
without further proof or qualification regarding solvency, credit or
financial sufficiency to act as surety.

30. TITLE INSURANCE

486.    Charges Other Than Premium.

In event a charge is made not only as a premium for title insurance
but for title examination, recordation taxes or fees or other services,
the part thereof attributable to insurance premium shall be subject
to the approval of the Commissioner.

PREMIUMS FOR TITLE INSURANCE SHALL BE CLEARLY
SET OUT AND SUBJECT TO THE APPROVAL OF THE COM-
MISSIONER.

31. MISCELLANEOUS

487.    Annuity Agreements With Donors to Colleges or Universities.

(a)   Commissioner may issue special permits authorizing such
agreements. The Commissioner, upon application and in his dis-
cretion, may issue a special permit to make annuity agreements with
donors to any regularly organized domestic college or university not
conducted for profit and engaged solely in bona fide educational
activities which shall have been in active operation for at least ten
years prior thereto. Such permit shall authorize such college or
university to receive gifts of money or other property conditioned
upon, or in consideration of, its agreement to pay an annuity to the
donor or his nominee, and to make and carry out such annuity
agreement.

(b)   Reserves to be maintained by college or university; annual
reports. Every such college or university issuing annuities under such
permit shall have and maintain admitted assets at least equal to the
sum of adequate reserves on its outstanding annuity agreements as
indicated by an annual report which shall be submitted to the Com-
missioner within ninety (90) days after the termination of such