Within 60 days of the filing of an application, if the Commissioner finds that the stock association has met the requirements of § 9-633 of this subtitle, the Commissioner shall issue to the converting association a letter of preliminary approval of the conversion.

Added by Acts 1986, c. 591, § 1, eff. July 1, 1986. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996.