STATE ATHLETIC COMMISSION
Chairperson:T>. Chester O'Sullivan, 1981

William 1. Garner, Jr„ 1979; Ben Alperstein,
1981; William 0. Draper, Sr., 1981; Robert W.
Phillips, 1983

Jack Cohen, Executive Secretary

One South Calvert Street
Baltimore 21202 Telephone: 383-4141

The State Athletic Commission, established
by Chapter 710, Acts of 1920, consists of five
members appointed by the Governor with the
advice and consent of the Secretary of Licensing
and Regulation for six-year terms. The Com-
mission has supervision over all boxing shows,
wrestling matches, and closed circuit telecasts
scheduled and held in the State of Maryland. It
enacts and enforces such rules as are necessary
to govern these bouts. It licenses all
corporations, associations, or persons sponsoring
such bouts, and all referees, managers, seconds,
and participants. The Commission collects from
all sponsors of boxing and wrestling matches a
fee equal to ten per cent of the gross gate
receipts and also ten per cent of the sale of ra-
dio, television, or motion picture rights to box-
ing and wrestling events (Code 1957, Art. 56,
sees. 109-26).

BANK COMMISSIONER
W, H. Holden Gibbs, Bank Commissioner

Charles A. Knott, Jr., Deputy Bank Commis-
sioner

Charles R. Georgius, Chief Examiner
Charles C. Ehrig, Examiner V

One North Charles Street
2005 Blaustein Building
Baltimore 21201 Telephone: 383-2480

The office of the Bank Commissioner was
created by Chapter 219, Acts of 1910. The
Bank Commissioner is appointed by the Secre-
tary of Licensing and Regulation, with the ap-
proval of the Governor, and holds office at the
pleasure of the Secretary of Licensing and Reg-
ulation. The Department has general supervi-
sion over all banking institutions in the State
other than national banks. It must examine
each institution at least twice in eighteen
months and at such other times as the

Commissioner may deem expedient and at any
time upon request of the Board of Directors of
the institution. These examinations can be made
in conjunction with the Federal Authorities.
Whenever the capital stock of an institution is re-
duced by impairment, and such impairment is not
made good as prescribed by law, the Bank Com-
missioner may take possession, as provided by
law, and retain possession until it resumes busi-
ness or is placed in final liquidation. The law fur-
ther provides for the removal by the Bank Com-
missioner of any director or officer of any State
banking institution who shall have violated or
continue to violate any law relating to such an in-
stitution, or shall have continued unsafe or un-
sound practices in conducting the business of
such institution after having been duly warned by
the Bank Commissioner to discontinue such
violations of law or such unsafe or unsound
practices. If a banking institution, excepting a na-
tional bank, fails, the Bank Commissioner acts as
receiver, liquidates its assets, and terminates its
affairs under the jurisdiction of the court. The
Commissioner may delegate this power to the
Deputy Commissioner or a senior examiner. Ev-
ery bank, trust company, and .mutual savings in-
stitution is required to submit to the Bank Com-
missioner, under oath, at least two reports in
each calendar year. Such reports must exhibit in
detail the resources and liabilities of the institu-
tion. These reports are published in the local
newspapers.

All new State banking institutions must orga-
nize under the supervision of the Department and
must obtain from it a certificate before opening
for business. The Bank Commissioner must ap-
prove all applications for a branch office made by
a State bank, trust company, or mutual savings
institution, and must pass upon all amendments
to their charters. He must also approve any
mergers or voluntary liquidations. On June 30 of
each year he must make a written report to the
Governor (Code 1957, Art. II, sees. 1-118;
Corporations and Associations Article, sees.
6-101 through 6-157).

The General Assembly of 1929 passed what is
known as the "Credit Union Law," which
provides that any seven or more individuals who
are residents of Maryland and who have a com-
mon employer or are members of a common or-
ganization or rural community may act as incor-
porators to form a credit union and make
application to the Bank Commissioner for per-
mission to organize.

The Department has general supervision over
all credit unions in the State other than Federal