654                                             LAWS OF MARYLAND                                     Ch. 10

value provided on that date being considered as an endowment
benefit. In making the above comparison the mortality and
interest bases stated in paragraphs (a-1) and (a-3) shall be
used.

Reserves according to the commissioners reserve valuation
method for (i) life insurance policies providing for a varying
amount of insurance or requiring the payment of varying premiums,
(ii) group annuity and pure endowment contracts purchased under a
retirement plan or plan of deferred compensation, established or
maintained by an employer (including a partnership or sole
proprietorship) or by an employee organization, or by both, other
than a plan providing individual retirement accounts or
individual retirement annuities under Section 408 of the Internal
Revenue Code, as amended, (iii) disability and accidental death
benefits in all policies and contracts, and (iv) all other
benefits, except life and endowment insurance benefits in life
insurance policies and benefits provided by all other annuity and
pure endowment contracts, shall be calculated by a method
consistent with the principles of subsection (b-1), except that
any extra premiums charged because of impairments or special
hazards shall be disregarded in the determination of modified net
premiums.

168.

(d) (1) A person who [has] WAS licensed or qualified to act
as an agent or broker on June 30, 1985 may obtain a certificate
of qualification to act as an agent or broker, or both, for the
kind or kinds of insurance or subdivisions thereof for which that
person was previously licensed or qualified by filing the
appropriate application for an original certificate of
qualification with the Commissioner and paying the fee for an
original agent's or broker's certificate of qualification, or
both, as specified under § 41 of this article.

171.

(b) An agent or broker duly certified by any other state,
residing outside of this State, may hot enter this State for the
purpose of transacting business without obtaining a certificate.
He may, after obtaining A certificate and appointment, if
applicable, negotiate any contract of insurance upon subjects of
insurance resident, located, or to be performed in this State to
the same extent and upon the same terms and upon payment of the
same fees as are required by such other state from residents of
this State transacting a like business in such other state.

177.

Individual applicants for qualification as to kinds of
insurance other than life and health insurance and annuities
shall be required to comply with the requirements of this
section, as follows: