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ASSISTANT SECRETARY
Joseph L. Pedonc, Assistant Secretary 333-6200
The Assistant Secretary oversees the Insurance
Division and the Division of Financial Regulation
as well as the Management Information System, the
Planning and Management Unit, and the Bud-
get/Procurements; Accounting/Disbursements
Unit.
MANAGEMENT INFORMATION STSTEM
Robert L. Burkhardt, Director 333-4690
PLANNING AND MANAGEMENT
Melvin Jackson, Director 333-6202
BUDGET/PROCUREMENTS;
ACCOUNTING/DISBURSEMENTS
J. Richard Danaher, Fiscal Administrator
333-6222
INSURANCE DIVISION
E. Susan Kellog, State Insurance Commissioner
Eugene A. SeideL, Deputy State Insurance
Commissioner
501 St. Paul Place
Baltimore, MD 21202 333-6300
toll free: 1-800-492-6116
The Insurance Division was created in 1872 as
the Insurance Department under the Comptroller
of the Treasury (Chapter 388, Acts of 1872). Re-
named the State Insurance Department, it became
an independent agency in 1878 (Chapter 106, Acts
of 1878). In 1970, the Division by its present name
was placed within the Department of Licensing and
Regulation (Chapter 402, Acts of 1970).
The Division is directed by the State Insurance
Commissioner who ensures that all laws of the State
governing insurance companies or relating to the
business of insurance are faithfully executed. The
Commissioner authorizes and licenses insurance
companies, agents, brokers, approved attorneys,
and advisors for fire, casualty, life, accident, health,
title and other insurance and annuities. The Com-
missioner also approves all insurance policies of-
fered for sale in Maryland by authorized companies,
authorizes rating bureaus and advisory organiza-
tions, and approves or rejects the rates for most lines
of insurance.
Periodical^ the Division examines all companies
organized under the laws of Maryland and scruti-
nizes from time to time nonresident companies
doing business in the State. The Division also inves-
tigates and resolves consumer complaints and ques-
tions concerning insurance companies doing
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business in the State (Code 1957, Art. 48A, secs.
14-16).
The Division is organized into four Sections:
General Administration; Examination and Licens-
ing; Life and Health; and Property and Casualty.
The State Insurance Commissioner is appointed
by the Secretary of Licensing and Regulation with
the approval of the Governor and Senate advice and
consent. Authorization for the Insurance Division
and the State Insurance Commissioner continues
until July 1,1993 (Code 1957, Art. 48A).
DIVISION OF FINANCIAL
REGULATION
STATE BANK COMMISSIONER
Margie H. Muller, State Bank Commissioner
Henry L. Bryson, Deputy State Bank Commissioner
The Brokerage, Suite 800
34 Market Place
Baltimore, MD 21202 333-6330
toll free: 1-800-492-7521
The office of the State Bank Commissioner was
created in 1910 (Chapter 219, Acts of 1910). The
Commissioner's office has general supervision over
all banking institutions in the State except national
banks. It must examine each institution at least once
every calendar year, at such other times as the
Commissioner deems expedient, and at any time
upon request of the board of directors of the insti-
tution. These examinations may be made in con-
junction with federal regulatory agencies.
Every bank, trust company, and mutual savings
bank is required to submit under oath to the State
Bank Commissioner at least two reports in each
calendar year. The reports must exhibit in detail the
resources and liabilities of the institution. These
reports are published in local newspapers.
All new State banking institutions must incor-
porate under the supervision of the State Bank
Commissioner and must obtain a certificate before
opening for business. The Commissioner must ap-
prove all applications for a branch office made by a
State bank, trust company or mutual savings bank,
and must pass upon all amendments to their char-
ters. The Commissioner also must approve any
mergers or voluntary liquidations and acquisitions
of State- chartered or national banks by out-of-state
bank holding companies. On June 30 of each year,
the Commissioner submits a written report to the
Governor (Code financial Institutions Article, secs.
2-101 through 5-1007).
Under the Credit Union Law, any seven or more
Maryland residents sharing common occupational,
residential or social experiences or characteristics
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