1266 LAWS OF MARYLAND. [CH. 516

having one year or less to run and pro rata on those for
longer periods, or in lieu thereof, one hundred per centum of
the pro rata unearned premiums or deposits collected from
subscribers. In addition to the assets previously provided in
this section, there shall be maintained a surplus of One
Hundred Thousand Dollars ($100, 000) in cash or securities.
There shall also be maintained as a claim or loss reserve,
cash or such securities sufficient to discharge all liabilities
on all outstanding losses arising under policies issued;
the same to be calculated in accordance with the laws
of the State relating to similar reserves for companies
insuring similar risks. If at any time the amounts on
hand are less than the foregoing requirements, the sub-
scribers or their attorney for them shall make up the defi-
ciency, and the funds so advanced shall not be treated as a
liability to the exchange and shall not be withdrawn except
with the approval of the supervising insurance official of the
state where the exchange is domiciled, and such advances
shall be repaid only out of the surplus funds of the exchange.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1949.

Approved April 29, 1949.

CHAPTER 516

(House Bill 93)

AN ACT to repeal Section 379 of Article 1 of the Code
of Public Local Laws of Maryland (1930 Edition), title
"Allegany County, " sub-title "Landlord and Tenant, " re-
lating to the removal of goods, wares and merchandise
upon which distraint has been made by the landlord.

WHEREAS, the provisions of Article 53 of the Annotated
Code of Maryland seem to cover the subject matter of these
sections, thereby making them unnecessary; now therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 379 of Article 1 of the Code of Public
Local Laws of Maryland (1930 Edition), title "Allegany
County", sub-title "Landlord and Tenant", be and they are
hereby repealed.

SEC. 2. And "be it farther enacted, That this Act shall take
effect June 1, 1949.

Approved April 29, 1949.