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<section article="gfi" article_name="Financial Institutions" number="4-202" title_number="4" title_name="Banking Institutions -- Savings Banks" subtitle_number="2" subtitle_name="Formation and Powers">
  <level label="a">
    <text>The incorporators shall sign and acknowledge two copies of articles of incorporation.</text>
  </level>
  <level label="b">
    <text>The articles of incorporation shall include:</text>
    <level label="1">
      <text>The name and address of each incorporator;</text>
    </level>
    <level label="2">
      <text>A statement that:</text>
      <level label="i">
        <text>Each incorporator is at least 18 years old;</text>
      </level>
      <level label="ii">
        <text>Each incorporator is a citizen of the United States; and</text>
      </level>
      <level label="iii">
        <text>At least one of the incorporators is a citizen of this State;</text>
      </level>
    </level>
    <level label="3">
      <text>A statement that the incorporators are associating to form a savings bank under this subtitle;</text>
    </level>
    <level label="4">
      <text>The name of the savings bank, which may not be similar in any material respect to the name of any other bank, savings bank, or trust company in this State;</text>
    </level>
    <level label="5">
      <text>The municipal area and county where the principal banking office of the savings bank is to be located;</text>
    </level>
    <level label="6">
      <text>The name and residence address of each member; and</text>
    </level>
    <level label="7">
      <text>The number of directors and the names and residence addresses of those who will serve until their successors are elected and qualify.</text>
    </level>
  </level>
</section>
