SPIRO T. AGNEW, Governor                          347

habitation and Liquidation," be and it is hereby repealed and re-
enacted, with amendments, to read as follows:

153.

(a)    The moneys collected by the Commissioner in a proceeding
under this subtitle shall be from time to time deposited in one or
more state or national banks, savings banks or trust companies,
and in the case of the insolvency or voluntary or involuntary liquid-
ation of any such depository which is an institution organized and
supervised under the laws of this State, such deposits shall be en-
titled to priority of payment on an equality with any other priority
given by the banking laws of this State. The Commissioner may
in his discretion deposit such moneys or any part thereof in a na-
tional bank or trust company as a trust fund.

(b)    To the extent that such an investment or account is insured
by the Federal Savings and Loan Insurance Corporation or by the
Maryland Savings-Share Insurance Corporation, the Commissioner
may invest in shares of savings and loan associations or building
and loan associations.

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

Approved April 10, 1968.

CHAPTER 295
(House Bill 737)

AN ACT to repeal and re-enact, with amendments, Section 482A
(c) (1) of Article 48A of the Annotated Code of Maryland (1964
Replacement Volume, 1967 Supplement), title "Insurance Code,"
subtitle "Casualty Insurance," to eliminate the requirement that
reports of net direct written premiums charged be filed with the
State Comptroller.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 482A (c) (1) of Article 48A of the Annotated Code
of Maryland (1964 Replacement Volume, 1967 Supplement), title
"Insurance Code," subtitle "Casualty Insurance," be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

482A.

(c) (1) Every insurer shall, on or before November 15, 1965, file
with [the State Comptroller and with] the Commissioner [iden-
tical returns] a return, under oath, on a form to be prescribed and
furnished by the Commissioner stating the amount of net direct
written premiums charged during the months of July, August and
September preceding, as defined in subsection (a) (6) of this section.
On or before February 15, 1966, and continuing consecutively there-
after, on or before the fifteenth day of May, August, November and
February of each year, each such insurer shall file quarterly, a sim-