SPIRO T. AGNEW, Governor                        335

89.

(3) Nothing in SUBSECTION 1 OF this [section] subtitle shall
prohibit an insurer from acquiring control of another insurer.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved April 10, 1968.

CHAPTER 284
(House Bill 718)

AN ACT to repeal and re-enact, with amendments, Section 338 of
Article 48A of the Annotated Code of Maryland (1964 Replace-
ment Volume), title "Insurance Code," subtitle "Fraternal Benefit
Societies," and to repeal Section 340 of said title and subtitle, and
to repeal and re-enact, with amendments, Section 357 of Article
48A of the Annotated Code of Maryland (1964 Replacement Vol-
ume), title "Insurance Code," subtitle "Nonprofit Health Service
Plans," to provide that certain types of insurers also be included
within the provisions of Section 58 of this Article.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 338 of Article 48A of the Annotated Code of Maryland
(1964 Replacement Volume), title "Insurance Code," subtitle
"Fraternal Benefit Societies," Section 340 of said title and subtitle,
and Section 357 of Article 48A of the Annotated Code of Maryland
(1964 Replacement Volume), title "Insurance Code," subtitle "Non-
profit Health Service Plans," be and they are hereby enacted to read
as follows:

338.

(a)    [Reports shall be filed and synopses of annual statements
shall be published in accordance with the provisions of this sec-
tion.] Every society transacting business in this State shall file an
annual statement as provided in Section 58 of this Article, and pay a
fee of twenty-five dollars ($25) for filing same.

[(b) Every society transacting business in this State shall an-
nually, on or before the first day of March, unless for cause shown
such time has been extended by the Commissioner, file with the
Commissioner a true statement of its financial condition, transactions
and affairs for the preceding calendar year and pay a fee of twenty-
five dollars ($25) for filing same. The statement shall be in general
form and context as approved by the National Association of In-
surance Commissioners for fraternal benefit societies and as supple-
mented by additional information required by the Commissioner.]

(b)    [(c)] A synopsis of its annual statement providing an
explanation of the facts concerning the condition of the society
thereby disclosed shall be printed and mailed to each benefit member
of the society not later than June 1 of each year, or, in lieu thereof,
such synopsis may be published in the society's official publication.