J. MILLARD TAWES, Governor                        983

agreement by the terms of which any person, partnership or corpo-
ration agrees to pay all, or a portion of, the expenses of management
of this insurer in consideration of an agreement to pay him or it
either commissions on premiums due the insurer or any other com-
pensation for his or its services. UNLESS SUCH AGREEMENT
AND ANY AMENDMENTS THERETO SHALL HAVE BEEN
FILED WITH AND APPROVED BY THE COMMISSIONER.

(b) No such insurer shall enter into any agreement with an of-

ficer or director of this insurer or with any firm or corporation in

which the officer or director is pecuniarily interested either directly

or indirectly, under which agreement the insurer agrees to pay, for

the acquisition of business, any commission or other compensation

which by the terms of such agreement is increased or diminished

by the amount of the business or by the earnings of the insurer on the
business.

(c) (B) The provisions of this section shall not prevent the ex-
tension by the parties thereto of any agreement in effect on June 1,
1965, for a period not to extend beyond June 1, 1970. PROVIDED,
HOWEVER, SUCH AGREEMENT AND ANY AMENDMENTS
THERETO SHALL HAVE BEEN FILED WITH AND APPROVED
BY THE COMMISSIONER BEFORE JULY 31, 1965.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1965.

Approved May 4, 1965.

CHAPTER 701
(Senate Bill 37)

AN ACT to repeal and re-enact, with amendments, Sections 1, 6 (a)
and 10 of Article 14B of the Annotated Code of Maryland (1964
Supplement), title "State Boat Act"; and to add new Sections 4A
through 4R 4-O, inclusive, to the said article of the Code, to follow
immediately after Section 4 thereof; and to add new Section 326
(g-1) to Article 81 of the said Code, title "Revenue and Taxes," sub-
title "Retail Sales Tax Act," subheading "In General," to follow im-
mediately after Section 326 (g) thereof, to revise the provisions
of the State Boat Act to generally provide for issuance of certifi-
cates of title for all vessels subject to numbering in the State, to
provide for details of issuance, use and effect of certificates of
title, to require licensing of dealers in vessels, to make other neces-
sary changes in the State Boat Act, to levy an excise tax on the
sale or transfer of vessels subject to numbering under the Act, to
exclude such sales or transfers of vessels from the provisions of the
retail sales tax act and to exclude from payment of the excise tax
vessels owned prior to the effective date of this Act, to correct
errors therein and to generally relate to the State Boat Act and
to vessels in the State.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 1, 6 (a) and 10 of Article 14B of the Annotated Code