326/Maryland Manual

The Director of the Division is appointed by the
Secretary of Licensing and Regulation with the
approval of the Governor and Senate advice and
consent. With the approval of the Secretary of
Licensing and Regulation, the Director appoints
the Deputy Director. Authorization for the Divi-
sion continues until July 1, 1992 (Code Financial
Institutions Article, secs. 8-101 through 10-117).

BOARD OF SAVINGS AND LOAN ASSOCIATION
COMMISSIONERS

Chairperson: J. Charles Baummer, 1990

Appointed by Governor with advice of Secretary of
Licensing & Regulation and Senate advice &
consent: Deborah K. Hines, 1989; John A.
Nicodemus, 1989; Alma Thompson Bell, 1990;
William L. Hermann, 1990; Joseph Griggs, Jr.,
1991; Dorothy V. Rutkowski, 1992; two vacancies.

The Brokerage, Suite 800
34 Market Place
Baltimore, MD 21202 333-6330
toll free: 1-800-492-7521

The Board originated in 1961 as the Board of
Building, Savings and Loan Association Commis-
sioners (Chapter 205, Acts of 1961). In 1980, it
received its present name (Chapter 856, Acts of
1980). The Board became advisory in 1986 (Chap-
ter 282, Acts of 1986).

The Board advises the Director of the Division
of Savings and Loan Associations. The Board im-
partially advises the Director on the approval or
disapproval of applications by an association; ways
to protect the interests of the general public and of
depositors and stockholders in associations; and
proposed laws, regulations, or other matters con-
cerning the business of savings and loan associa-
tions in Maryland.

The Board's nine members are appointed to
four-year terms by the Governor with the advice of
the Secretary of Licensing and Regulation and with
Senate advice and consent. Three are industry mem-
bers who, for at least five years immediately before
appointment, have been officers or directors of or
attorneys for State-chartered savings and loan asso-
ciations insured by the Maryland Deposit Insurance
Fund Corporation. Six are public members who
have not served as officers or directors of or attor-
neys for a savings and loan association or related
entity during the three years immediately before
appointment. Public members may not be members
of the immediate family of any director or officer or
any attorney for a savings and loan association or
related entity. Each member must have been a
Maryland resident and registered voter immediately
before appointment. Authorization for the Board
continues until July 1,1992 (Code Financial Insti-
tutions Article, secs. 8-101 through 10-117).

STATE OF MARYLAND DEPOSIT
INSURANCE FUND CORPORATION

BOARD OF DIRECTORS

Chairperson: Vacancy

Appointed by Governor: Rebecca M. Bednarik;
Goodloe E. Byron, Jr; Michael J. Felber; Thomas
M. Fox; Brian A. Krisak; Harry A. Stokvis; James
Vroomland; James R. Young. Terms expire 1989.

Elected by member associations: William A. Davis;
William H. Eagers; John W. Marhefka.

Lloyd W. Jones, Fund Director
Patrick M. McCracken, Deputy Director
John D. Ha\l, Assistant Director

The Brokerage, Suite 801
34 Market Place
Baltimore, MD 21202 727-7810

The State of Maryland Deposit Insurance Fund
Corporation was instituted in May 1985 (Chapter
6, Acts of First Special Session of 1985). The Cor-
poration was formed when those savings and loan
associations previously insured by the privately-run
Maryland Savings-Share Insurance Corporation
were given a three-tier deadline, based on assets, in
which to either secure federal insurance coverage or
merge with another federally-insured financial insti-
tution. Created as a temporary agency, the Corpo-
ration insures the deposits of Maryland-chartered
savings and loan associations and provides funds for
liquidity to member thrifts. The Corporation re-
stricts the membership of savings and loan associa-
tions in the Fund to certain time frames and
conditions. The Corporation also acts as court-ap-
pointed conservator or receiver for thrifts found to
be insolvent and supervises the liquidation process
of thrifts placed into receivership (Code Financial
Institutions Article, secs. 10-101 through 10-121).

The Corporation is administered by the Fund
Director with the Board of Directors in an advisory
role. Appointed by the Governor, the Fund Direc-
tor serves at the pleasure of the Secretary of Licens-
ing and Regulation. The Board ofDirectors consists
of eleven members. Eight are appointed by the
Governor. Three are elected by member associa-
tions subject to the approval of the Secretary of
Licensing and Regulation.

COMMISSIONER OF CONSUMER CREDIT

Alan T. Fell, Commissioner
George L. Rayburn, Assistant Commissioner

The Brokerage, Suite 800
34 Market Place
Baltimore, MD 21202-4077 333-6330
toll free: 1-800-492-7521

The office of Commissioner of Consumer Credit
was originally established as the Administrator of