Md. Code Ann., Fin. Inst. § 9-618
Conversion of federal association to Maryland savings and loan association
Effective Apr 13, 1999Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986; Acts 1990, c. 149; Acts 1999, c. 34, § 1, eff. April 13, 1999.State of Maryland
- (1) Its principal office is in this State;
- (2) Its members approve;
- (3) The Division Director approves; and
- (4) Immediately upon filing its articles of incorporation with the State Department of Assessments and Taxation, the association will convert to a commercial bank under the provisions of §§ 9-631 through 9-639 of this subtitle or convert to a federally chartered savings and loan association under §§ 9-613 through 9-615 of this subtitle.
A federal association may convert to a Maryland savings and loan association if:
Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986; Acts 1990, c. 149; Acts 1999, c. 34, § 1, eff. April 13, 1999.