Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1894-05-04
CHAPTER o59

CHAPTER 1853.
AN ACT TO REPEAL SECTIONS 1877 OF
ARTICLE % OF THE PUBLIC GENERAL,
LAWS OF MARYLAND, TITLE "OORPQR-
ATOMS SUBTITLE INSURANCE
DEPARTMENT'' AND TO RE-ENACT THE
SAME WITH AMENDMENTS.
SEcTIoN /. Be il enacte by the General
Assembly Of Maryland. That Section 1877 of
Article 20 Of the Public General Laws Of
Maryland title Corporations subtitle "In.
surance Department. be and the same ia
hereby repealed and re-enacted 80 as to read
as follows:
Section 1877. Any person, body polite or
corporate partnership or association who or
which shall make, negotiate or solicit within
this State any contract of Insurance or shall
effect an Insurance or assurances or pretend
to effect an Insurance or assurances or con-
meet any other person or persons with them
In any policy they may at the time hold or
shall do any business of Insurance of apy
Kind or make any guaranty contract or pledge
FOR the payment of annuities or endoWfnents
or money whether the amount thereof be fixed
or contingent to the families or representa-
tiyes 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 In
surance 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 1888 OF this
Article and tho term Insurance Company as
used IN this Article shall be taken to embrace
every corporation, association partnership or
individual engaging in such business and
every such corporation. association. partner
ship or Individual, making any engagement
for the payment of any money or other bene-
hts 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 thor
NU tIIln. 80
any contract or agreement in which the
chances or probabilities of the duration of
life or the rate Of mortality or hazard of occu-
patton are in any way involved an as element
or condition OF such contract or agreement
shall be deemed and taken to be q life Insur.
ance Company within the meaning of this
Article and shall he subject to all the require
ments OF law applicable to said life insurance
company provided that the said business may
be conducted on the mutual or cooperative
plan and that all such organizations shall
prior to beginning business and thereafter have
In force bona fde application for membership
from at least one hundred persons and In
ease said organization issues its certificates
Tor q maximum sum OF less than five hundred
dollars, these said applications shall at least
equal Ten Thousand Dollars OF Insurance and
If any certificate Of insurance on ono life be
issued in excess of five hundred dollars then
they shall ut least equal the amount OF in
suranco now required by law for a mutual
company and in addition thereto comply with
the seven following sections Of this Article for
said mutual or cooperative organizations
provided that nothing herein contained shall
be construed to apply to the granting of relief
or benefits to members or their families BY
any societies OF purely and exclusively
religious, charitable or benevolent descrjption
which are not operated with view toa profit
by their officers members.
SEC. 2. aud be IL endcied That this Act
chOl fak 4h..I Hat.
Approved April6, 1894
FRANK BROWN, Governor
JoRN WALTER SMITH.
President Of the Senate
JAMES ii. PRESTON,
Speaker OF the House of Delegates.
We hereby certify that the aforegoing is
correct copy of an Act OF the General Assem-
bly, OF Maryland, passed January Session,
1894.
]. ROGER McSHERRY,
Secretary OF the Senate
b. l.. SMITH,
Chief Clerk Of the Honse of Delegates.