C. Edgar Smith, Jr., Associated Mutual Savings
Banks of Maryland, 1981; Carter Kauftnann,
Michael H. Weinman

The Banking Board, established by Chapter
489, Acts of 1935, is composed of the Comptroller
of the Treasury and five members appointed by
the Governor with the advice of the Secretary of
Licensing and Regulation from lists of nominees
submitted by the Baltimore Clearing House, the
Associated Mutual Savings Bank of Baltimore,
and the Maryland State Bankers' Association.
Two members represent the general public.
Members hold office for six years. The members of
the Banking Board are subject to the call of the
Bank Commissioner to confer and consult with
him in any matter concerning the business of any
State banking institution upon which the Commis-
sioner requests their advice and counsel. The law
further provides that the Board's functions shall
be purely advisory, to assist the Commissioner
with sound and impartial guidance as additional
protection in maintaining the business of banking
and banking institutions throughout Maryland in
such manner as will give the fullest possible pro-
tection to the interest of depositors and
stockholders (Code 1957, Art. II, sec. 27).

BOARD OF BARBER EXAMINERS
President: Simon V. Avara, 1979

Joseph P. Derrico, 1983; Thomas Lee Edwards,
1983; Delores O'Connell, 1979; Joseph
Giordano, 1980; Jerry Adier, 1979

Secretary: Andrew Barracato, 1980

One South Calvert Street
Baltimore 21201 Telephone: 383-2446

The State Board of Barber Examiners, original-
ly created by Chapter 226, Acts of 1904, had its
membership enlarged by Chapter 509, Acts of
1969, and again enlarged by Chapter 582, Acts of
1975. The Board consists of seven members
appointed by the Governor with the advice of the
Secretary of Licensing and Regulation for five-
year terms. Five members of the Board must have
been barbers for the last five years prior to their
appointment. Two members represent the public.
The Governor designates the President, Secretary,
and Treasurer of the Board.

The Board examines and registers all applicants
for barber licenses in the State of Maryland. It has
authority to appoint subboards, with the approval
of the Secretary of Licensing and Regulation, to
assist in its inspection and licensing activities.

The Board has the power to make such rules
and regulations that are reasonably necessary for
the performance of its duties (Code 1957, Art. 43,
sees. 311-325B).

DIVISION OF BUILDING, SAVINGS
AND LOAN ASSOCIATIONS

THE DIVISION
Charles H. Brown, Jr., Director
David H. Wells, Jr., Deputy Director

One South Calvert Street
Baltimore 21202 Telephone: 383-2314

The Division of Building, Savings and Loan
Associations was originally created by Chapter
205, Acts of 1961, as the Department of Building,
Savings and Loan Associations. It received its
present name by Chapter 402, Acts of 1970.

The Division supervises and regulates the or-
ganization and operations of State-chartered
building, savings and loan associations. The Di-
vision also examines the affairs of each associa-
tion at least once a year, if possible, to deter-
mine compliance with the Act, as well as
regulations and policies, procedures, and
practices of the savings and loan business. As of
June 30, 1978, there were 152 State-chartered
associations actively engaged in business in
Maryland that are subject to the supervision
and regulation of the Division.

The Director of the Division is appointed by
the Secretary of Licensing and Regulation with
the approval of the Governor. The Director, with
the approval of the Board of Building, Savings
and Loan Association Commissioners, appoints
the Deputy Director, the examiners, and such
number of additional employees as may be pro-
vided for in the budget.

Provisions are made in the law with respect to
investments, withdrawal of accounts, taxation,
promotional activities, management, and
functions of such businesses, including class and
type of securities, and allocation of profits,
reserves, and dividends. Provisions are also
outlined for the branching, consolidation, merger,
and dissolution of associations. In addition,
provisions are made for conservators and
receivers for such businesses; exempting accounts
of such businesses from the Maryland Securities
Act of 1962; the creation of a Board of Building,
Savings and Loan Association Commissioners;
and providing penalties for failure or refusal