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§ 9-618. Conversion of federal association to Maryland savings and loan association

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 9. Savings and Loan Associations
Subtitle 6. Conversions; Extraordinary Actions (Refs & Annos)
Part III. Federally Chartered Conversion to State Chartered
MD Code, Financial Institutions, § 9-618
§ 9-618. Conversion of federal association to Maryland savings and loan association
Currentness
A federal association may convert to a Maryland savings and loan association if:
(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.

Credits

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.
MD Code, Financial Institutions, § 9-618, MD FIN INST § 9-618
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document