The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-05-05

An Act to repeal Sections 127 OF Article % of the
Public General Laws of Maryland title Corpora
tons" subtitle Insurance Department" and to
re-enact the same with Amendments

An Act to repeal Sections 127 OF Article % of the
Public General Laws of Maryland, tile Corpora
tons" subtitle Insurance Department" and to
re-enact the same with Amendments.
SECTION l. Be enacted By The General 1sseaably Of
Maryland That Section 127 of Article % of the Pub
lie General Laws of Maryland title Corporations
subtitle Insurance Department be and the same
is hereby repealed and reenacted so as 10 read as
follows:
partnership association who which shall make.
negotiate or solicit within this State any contract of
Insurance or shall effect Insurance or Insur-
ances or pretend TO effect an Insurance or lnsur-
ances 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 pay
ment of annuities or endowments or money whether
the amount thereof be fixed or contingent to the
families representatives of any policy or certif
cate holder or the lkeor shall advertise or circulate
any card, circular notice open or keep any Office
surance broker duly licensed. without fully comply
ing with all the provisions of this subtitle of this
Article shall be subject TO the fines and penalties
imposed by Section l3S of this Article and the term
Insurance Company used in this Article shall be
taken TO embrace every corporation association,
partnership or individual engaging in such bust
and every such corporation, association, part
neIship or individual, making any engagement for
the payment of any money or other benefits in the
event of sickness accident or death or other con-
tngency either to the member. policy or certificate
holder or by whatsoever name the same may be
known or TO their families or representatives or en-
tering into any contract agreement in which the
chances probabilities of the duration of life
the rdte OF mortality hazard OF are
any way involved as an element or condition of
such contract or agreement shall be deemed and
taken TO be life Insurance Company within the
meaning of this Article and shall be subject TO all
the requirements of law applicable to said life in
surance 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 fide application for membership from at least
one hundred persons, and in case said organization
issues its certificates for maximum sum of less
than Five Hundred Dollars, these said applications
shall at least equal Ten Thousand Dollars OF lnsur
ance and If any certificate of insurance on one life
be Issued in excess of Five Hundred Dollars then
they shall at least equal thz amount of insurance
now required by law for Mutual company and in
addition thereto comply with the seven following
sections of this Article for said mutual co-opera
tive organizations, provided that nothing herein
contained shall be construed 10 apply to the
granting of relief or benefits TO members or their
families by any societies of purely and exclusively
religious. charitable or benevolent description
which are not operated with view TO profit by
their officers or members.
SEC. .. And be Il enacted, That this Act shall tale
effect from the date offs passage.
Approved April 6, 1891.
JOHN WALTER SMITH,
President of the Senate.
JAMES II. PRESTON,
Speaker OF the House of Delegates.
We hereby certify that the atoregoing is correct
copy of an Act of the General Assembly of Mary
land, passed January Session, 1884,
j. ROGER McSHERRY.
Secretary of the Senate.
Il. L. SMITH,
Chief Clerk of the House of Delegates.