Md. Code Ann., Fin. Inst. § 9-613
Conversion of savings and loan association to federal association
Effective Jun 1, 1986Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986.State of Maryland
- (1) It is eligible to become a member of the federal home loan bank system;
- (2) Its members approve;
- (3) Within 6 months after member approval, the association acts to convert in the manner required by federal law; and
- (4) It receives a federal charter.
A Maryland savings and loan association may convert to a federal association if:
Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986.