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Maryland Manual, 1973-74
Volume 176, Page 207   View pdf image (33K)
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MARYLAND MANUAL 207
of the Secretary of Licensing and Regulation as set forth in Article
41 of the Code and elsewhere in the laws of Maryland (Code 1957,
1972 Repl. Vol., Art. 56, sec. 224A).
COMMISSIONER OF SMALL LOANS
George L. Rayburn, Assistant Commissioner
Alan T. Fell, Commissioner
George L. Rayburn, Assistant Commissioner
Louis A. Nowell, Examiner IV
One South Calvert Street, Baltimore 21202 Telephone: 383-3656
The office of the Commissioner of Small Loans was originally estab-
lished as the Administrator of Loan Laws, an independent agency by
Chapter 289, Acts of 1941, superseding a similar office established
under the jurisdiction of the Bank Commissioner (Chapter 741, Acts
of 1939). It adopted its present name by Chapter 402, Acts of 1970.
The Commissioner is appointed by the Secretary of Licensing and
Regulation with the approval of the Governor (Code 1957, 1971 Repl.
Vol., Art. 41, sec. 192).
The office is responsible for the licensing of consumer loan com-
panies and conducts investigations of these companies. The Commis-
sioner may revoke or suspend a consumer loan license following a
formal hearing before the agency, upon the finding that the licensee
has violated any provisions of Article 58A of the Code. Further, the
Commissioner directs investigations to discover suspected violations
of the law, the purpose of which is for the protection of borrowers
or the punishment of usurious money lenders.
The Commissioner is also responsible for licensing sales finance
companies. He conducts annual investigations of these companies to
determine their fitness to engage in the sales finance business in
Maryland. Following a formal hearing before the Agency, the Com-
missioner may suspend or revoke such licenses for violations of the
law (Code 1957, 1969 Repl. Vol., Art. 83, sec. 159).
During the 1971 and 1972 Session, the General Assembly strength-
ened the Commissioner's power to protect the consumer under the
Retail Credit Accounts Law and the Retail Installment Sales Act.
Acting upon a written complaint the Commissioner may, after a for-
mal hearing, order a seller to cease and desist from practice in viola-
tion of these laws (Code 1957, 1969 Repl. Vol., 1972 Supp., Art. 83,
sees. 149A, and 153F).
Appropriations 1973 1974
General Funds ............... $244,801 $234,612
Staff: 15

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Maryland Manual, 1973-74
Volume 176, Page 207   View pdf image (33K)
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