# Financial Institutions (GFI)

## Title 3. Banking Institutions -- Commercial Banks

### Subtitle 8. Conversions and Voluntary Dissolutions

#### Section 3-802

(a) Any commercial bank may convert into a national banking association as provided by federal law.

(b) When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert.

(c) When the Comptroller of the Currency issues a certificate of authority to do business as a national banking association, the charter of the commercial bank terminates and the new national banking association shall:

  (1) Take all property of the commercial bank, subject to all of its liabilities that exist at the time of conversion;

  (2) Notify the Commissioner of the conversion and the taking of property; and

  (3) File with the Commissioner a copy of the certificate of authority issued by the Comptroller of the Currency.

(d) The Commissioner shall file a copy of the certificate of authority with the State Department of Assessments and Taxation.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)