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of such company for a faithful performance of the undertaking in accordance with the provisions of this section by both himself and his salesmen.

Any violation of the provisions of this Section shall be deemed a misdemeanor and shall be punishable by a fine not exceeding one hundred dollars for the first offense, and by a fine of not less than one hundred dollars or more than one thousand dollars for each subsequent offense.

1904, art. 23, sec. 170. 1902, ch. 1, sec. 126c. 1910, ch. 541. 1916, ch.

526, sec. 187. 187. No insurance company, corporation or association chartered, incorporated or organized under the laws of the State of Maryland, shall hereafter engage in or carry on the business in this State of becoming. surety or guarantor on bonds of any kind, or the business of issuing policies of insurance of the classes known as employers or public liability, personal accident, plate glass, steam boiler, burglary, sprinkler leakage, credit indemnity, health, title insurance and mortgage guarantee, or any other kind of insurance, until such company shall obtain first from the Insurance Commissioner of Maryland a license of authority for that purpose.

Ibid, sec. 171. 1902, ch. 1, sec. 126D. 188. Such license shall be issued by the Insurance Commissioner to the company, corporation or association entitled to thie same annually on the 31st day of January, for the period of one year, upon the payment of the license fee hereinafter inentioned.

Ibid, sec. 172. 1902, ch. 1, sec. 126E. 1916, ch. 526. 189. Each company, corporation or association chartered or organized as aforesaid, except life, fire, sprinkler leakage, windstorm, hailstorm, cyclone, marine and title or mortgage guarantee companies or associations, and except insurance companies described in Sections 193 and 194 of this Article, or insurance companies doing what is known as the industrial insurance business, upon applying for said license shall pay to the Insurance Commissioner the sum of fifteen hundred dollars for the same; title insurance or mortgage guarantee companies

or associations upon applying for said license shall pay the Insurance Commissioner the sum of five hundred dollars for the same; or if the application be made subsequent to the beginning of a license year, then a pro rata proportion of the said sums of fifteen hundred dollars or five hundred dollars.

1904, art. 23, sec. 173. 1902, ch. 1, sec. 126F.

190. Any such company, corporation or association failing to comply with the requirements of the three preceding sections before engaging in any of the classes of insurance herein mentioned, shall be subject to the penalties imposed in Section 1.92 of this Article, and the issuing of each policy of insurance without compliance herewith shall be deemed a separate offense.

Ibid, sec. 174. 1902, ch. 1.. sec. 1266, 191. No license fee shall be hereafter required of or collected from any company, corporation or association chartered, incorporated or organized under the laws of any of the States of the United States other than the State of Maryland, or under the laws of the District of Columbia or of any of the territories belonging to the United States as a condition of granting to such company, corporation or association a license to carry on any of the classes of insurance business known as surety, liability, fidelity, accident, boiler, plate glass, health, burglary, sprinkle leakage, credit indemnity, or casualty insurance, provided, however that Sections 187-191 shall not be construed to relieve any insurance company, corporation or association of any kind whatsoever of or from the obligation to pay the tax upon its premiums mentioned in Section 181, or any other tax or charge now imposed by law, saving and except the license fee heretofore charged for carrying on said business; provided, further, that when, by the laws of any other State, Territory or District of Columbia, incorporating the company of the character described in Section 187 of this Article, a license fee is required to be paid by the like company, corporation or association incorporated in the State of Maryland, then in such case the Insurance Commissioner of the State of Maryalnd shall require of such non-resident company the same license fee, if any there be, as the State or government of its incorporation would re

quire of a like Maryland company, before such non-resident company shall be entitled to do business in the State of Maryland.

Ibid, sec. 175. 1888, art. 23, sec. 127. 1860, art. 56, sec. 32. 1858, ch. 432, sec. 4. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248.

1878, ch. 106. 1880, ch. 387. 1888, ch. 424.

1894, ch. 258. 1914, ch. 813, sec. 175. 192. Any person, body politic or corporate partnership or association, who or which shall make, negotiate or solicit within this State any contract of insurance, including the guaranty or insurance of the titles to real or personal property, or shall effect an insurance or insurances, or pretend to effect an insurance or insurances, or connect any other person or persons with them in any policy they may at the time hold, or shall do any business of insurance of any kind, or make any guaranty, contract or pledge for the payment of annuities or endowments or money, whether the amount thereof be fixed or contingent, to the families or representatives of any policy or certificate holder, or the like, or shall advertise or circulate any card, circular, notice or open or keep any office for the transaction of said business, except an insurance broker, duly licensed, without fully complying with all the provisions of this sub-title of this Article, shall be subject to the fines and penalties imposed by Section 188 of this Article; and the term "Insurance Company" as used in this Article, shall be taken to embrace every corporation, association, partnership or individual engaging in any such business; and every such corporation, association, partnership or individual making any engagement for the payment of money or other benefits in the event of sickness, accident or death, or other contingency, either to the member, policy or certificate holder, or by whatsoever name the saine may be known, or to their families or representatives, or entering into any contract or agreement in which the chances or probabilities of the duration of ilfe, or the rate of mortality or hazard of occupation are in any way involved as an element or condition of such contract or agreement, shall be deemed and 1 taken to be a life insurance company within the meaning of this Article, and shall be subject to all the requirements of law applicable to said life insurance company; provided that the said

business may be conducted on the mutual or co-operative plan, but that no such company or asssciation shall issue any benefit certificate, or pay or allow, or offer or promise to pay or allow to any person any death or disability benefit until actual bona fide applications for death benefit certificates have been secured upon at least five hundred (500) lives for the aggregate amount of at least twenty thousand dollars ($20,000), and said company or association, in addition thereto, shall have complied with the seven following sections of this Article for said mutual or co-operative organization; provided, that nothi ing herein contained shall be construed to apply to the granting of relief or benefits to members or their families by any societies of a purely and exclusively religious, charitable or be. nevolent description, which are not operated with a view to a profit by their officers or members.*

1904, art. 23, sec. 176. 1888, art. 23, sec. 128. 1888, ch. 424. 1892, ch. 488. 1894, ch. 256. 1902. ch. 338. 1914, ch. 813, sec. 176.

1916, ch. 133. 193. Organizations, as described in Section 192, issuing certificates for the payment of money or other benefits in the event of sickness, accident or death or other contingency, either to the member, policy or certificate-holder, or by whatsoever name the same may be known, or to their families or representatives, but issuing no certificate, certificates or any other form of contract of payment in the aggregate of a greater sum than one thousand dollars ($1,000.00), upon the termination of any one life or combination of lives, or a greater sum than seventy-five dollars ($75.00) annually, or the equivalent thereof, whether the payments be stipulated to be made annually, or at longer or shorter intervals, upon any contract or contracts of annuity in which the continuance of any one life, whether singly or in connection with other lives conjointly or in succession, or combined in any way whatsoever, or during sickness or disability, is involved as an element of the contract, may be formed on the mutual, co-operative, assessment or stock plan; and if on the latter plan, shall have paid-up capital of at least fifty thousand dollars, except as hereinafter otherwise provided, and such companies, whether formed on the mutual, co-operative, assessment

See International Fraternal Alliance vs. State, 77 Md. 556.

or stock plan, shall be possessed of and constantly maintain a sum of money not less in amount than fifty thousand dollars, or in interest or dividend-bearing securities of equal market value, and not in default for interest or dividend, which shall be deposited with the Insurance Commissioner of this State upon the terms prescribed for the deposits made with the Treasurer of this State, mentioned in Section 157 of this Article; providel, nevertheless, that such mutual, co-operative or assessment industrial insurance societies, association or companies, organized and doing business in this State prior to January 1st, 1914, and having a bona fide membership of not less than 500 persons, as shall, prior to July 1st, 1916, and not thereafter, reorganize as stock corporations under the provisions of Section 155 of this Article and comply with all the requirements and provisions of said section, may have a paid-up capital less than fifty thousand dollars ($50,000.00), but not less than ten thousand dollars ($10,000.00), provided that in no case shall the assets of such company, including capital stock actually paid in, at any time be insufficient to provide full legal reserve upon all outstanding policies as required by law, over and above all other bona fide debts and claims against it; and provided, further, that no such company having a paid-up capital stock less than fifty thousand dollars ($50,000.00) shall issue any certificate or other form of contract for the payment of money in the aggregate of a greater sum than five hundred dollars ($500.00) upon the termination of any one life or combination of lives, or a greater sum than seventy-five dollars ($75.00) annually, or the equivalent thereof, upon any contract of annuity or during sickness or disability. And provided, further, that any company organized prior to January 1st, 1914, and now doing business in this State, which has a paid-up capital stock of fifty thousand dollars ($50,000.00), or has on deposit with the Insurance Commissioner of this State securities as above described amounting to fifty thousand dollars ($50,000.00), shall be authorized to issue certificates or policies up to, but not in excess of one thousand dollars ($1,000.00), on any one life or combination of lives.

And every such organization, foreign, of another State, or domestic, conducting the business of health insurance, or assum

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