Every bank and trust company is required to submit to the Bank
Commissioner, under oath at least five reports in each calendar year;
such reports to exhibit in detail the resources and liabilities of the in-
stitution, and show its true condition. These reports are to be pub-
lished in the local newspapers. All mutual savings institutions are re-
quired to report their condition to the Bank Commissioner on June
30th and December Slat of each year.. ;.

It is the duty of the Bank Commissioner to examine and audit each
report received from the institutions under his supervision, and when
necessary, to verify them, at the same time to correct any irregulari-
ties that may be disclosed or make any recommendations that may
seem advisable.

It is part of the duty of the Bank Commissioner to supervise the
formation of new banking institutions; to see that all requirements of
the law have been complied with, and to issue his certificate authoriz-
ing them to commence business.

It is the further duty of the Bank Commissioner to pass upon all
amendments to charters, and all consolidations and voluntary liquida-
tions. On the tenth of February in each year the Bank Commissioner
is required to make a report to the Governor, covering the operations
of his office.

The 1918 session of the General Assembly passed what is known as
the Uniform Small Loan Law. This provides that all persons, co-
partnerships or corporations engaged in the business of making loans
in the amount of $300 or less and who charge a greater rate of interest
than six per cent., shall obtain a license from the Bank Commissioner.
This act further provides for the regulation and supervision of such
concerns by the Bank Commissioner. .

During the fiscal year ending February 1st, 1923, the Bank Com-
missioner made 406 examinations of the State banks, trust companies
and savings institutions, in addition to the inspection of the small loan
brokers.

STATE INSURANCE DEPARTMENT
- INSURANCE COMMISSIONER,
Office, Union Trust Building, Baltimore.

(Term Expires April, 1927.)

Name. Postoffice.
Commissioner:

Carville D. Benson...................................................................................Halethorpe
Deputy Commissioner:

Wilson L. Coudon...................................................................................Perryville
Deputy Fire Marshall:

Calvin Hicks ...........................................................................i......................Gambrills
Examiner:

John P. Albert..................................................................--...........Baltimore City
Actuary:

Arthur. M. Siegk...............................................- ............- .......Baltimore City
Counsel:

Thomas H. Robinson, Attorney-General....................................,Bel Air
Assistant Counsel:
Edward H. Burke........................................................................................Towson