J. MILLARD TAWES, Governor                      999

underwriters" shall mean any aggregation of individuals, who under
a common name engage in the business of insurance for profit
through an attorney-in-fact, having authority to obligate the under-
writers severally, within such limits as may be specified in the power
of attorney, on contracts of insurance made or issued by such
attorney-in-fact, in the name of such aggregation of individuals, to
and with any person or persons insured.

(ii) This subsection shall not be construed to restrict or limit the
right of insurers to place surplus line coverages in and to cede re-
insurance to foreign or alien Lloyds organizations, provided the
surplus line and reinsurance transactions are otherwise permitted
under the provisions of this article.

45.    Name of Insurer.

No insurer shall be authorized to engage in an insurance business
in Maryland which has or uses a name so similar to that of any
insurer already so authorized as to tend to cause uncertainty or con-
fusion or which tends to deceive or mislead as to the type of organi-
zation of the insurer.

46.    Combinations of Insuring Powers, One Insurer.

An insurer which otherwise qualifies therefor may be authorized
to engage in any one kind or combination of kinds of insurance
business as defined in subtitle 4 of this article, except:

(1)   An insurer authorized to engage in the business of life insur-
ance may also grant annuities, but shall not be authorized to engage
in any other kind of insurance business except health; provided,
that if the insurer is otherwise qualified therefor, the Commis-
sioner shall continue to so authorize any insurer which, immediately
prior to the effective date of this article, was lawfully authorized to
engage in this State in a kind or kinds of insurance in addition to
life insurance, health insurance, and annuities.

(2)   A reciprocal insurer shall not engage in the business of life
insurance or health insurance except as supplementary coverage in
policies of liability insurance.

47.    Capital and Surplus Requirements.

(1)   Capital and surplus requirements shall be based upon all the
kinds of insurance business actually transacted or to be transacted
by the insurer in any and all areas in which it operates, whether or
not only a portion of such kinds of business is to be transacted in
this State.

(2)   As to surplus required for initial qualification to engage in
any kind or kinds of insurance business and thereafter to be main-
tained, stock insurers shall be governed by sections 48 and 49;
mutual insurers shall be governed by subtitle 17; reciprocal insurers
shall be governed by subtitle 18; nonprofit health service plans
shall be governed by subtitle 20; and fraternal benefit societies shall
be governed by subtitle 19.

48.    Capital Stock Required.

(1) To qualify for authority to engage in the business of any one
kind of insurance business, unless otherwise provided in this