WILLIAM DONALD SCHAEFER, Governor                      Ch. 11

The Commissioner shall collect in advance, and the persons
so served shall pay the following fees to the Commissioner:

(1) Certificates of authority:

(i) Application for original certificate of
authority: For filing applications for certificate of authority,
articles of incorporation (except as provided in subsection (2)
[below] OF THIS SECTION and other charter documents, bylaws,
financial statement, examination report, power of attorney to the
Commissioner, and all other documents and filings required in
connection with such application ....................... $ 25.00

DRAFTER'S NOTE: This corrects a stylistic error in an
internal reference in Article 48A, § 41(1)(i).

The stylistic error was in contained in Ch. 553 of the
Acts of 1963.

The stylistic error was noted by the Michie Company.

49.

(1)  In addition to the minimum capital stock required by §
48 OF THIS SUBTITLE, no insurer shall be granted an original
certificate of authority to engage in a particular kind or
combination of kinds of insurance business unless it has surplus
assets or funds in an amount not less than one hundred and fifty
percent of such minimum capital stock.

(2)  For purposes of this article and for authority to
continue in the insurance business, in addition to the minimum
capital stock required by § 48 OF THIS SUBTITLE, every insurer
commencing business in this State on or after July 1,1966, must
maintain surplus assets or funds in an amount of not less than
one hundred percent of such minimum capital stock.

(3)  For Purposes of this article and for authority to
continue in the insurance business, in addition to the minimum
capital stock required by § 48 OF THIS SUBTITLE, every insurer
commencing business in this State prior to July 1,1966, must
maintain surplus assets or funds in an amount of not less than
fifty percent of such minimum capital stock, provided that if
such insurer is licensed for the sale of vehicle liability
insurance (whether or not it is also licensed for other lines of
insurance) it shall also be governed by subsection (4) [hereof]
OF THIS SECTION.'

(4)  For purposes of this article and for authority to
continue in the insurance business, every insurer commencing
business in this State prior to July 1,1966, which is licensed
for the sale of vehicle liability insurance must maintain surplus
assets or funds, in addition to those required by subsection (3)

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