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<section article="gfi" article_name="Financial Institutions" number="4-902" title_number="4" title_name="Banking Institutions -- Savings Banks" subtitle_number="9" subtitle_name="Subsidiary Savings Banks">
  <level label="a">
    <text>The incorporators of a subsidiary savings bank shall sign and acknowledge 2 copies of the 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 each incorporator is 18 years old or older, a resident of this State, and a citizen of the United States;</text>
    </level>
    <level label="3">
      <text>A statement that the incorporators are associated to form a subsidiary savings bank under this subtitle;</text>
    </level>
    <level label="4">
      <text>The name of the subsidiary savings bank, which may not be similar in any material respect to the name of any other bank or trust company in this State, except that the name of the subsidiary savings bank may be similar to the name of a savings bank reorganized pursuant to this title that is affiliated with the subsidiary savings bank;</text>
    </level>
    <level label="5">
      <text>The municipal area and county where the principal banking office of the subsidiary savings bank is to be located;</text>
    </level>
    <level label="6">
      <text>The number of directors and the names and residence addresses of those who will serve as directors until their successors are elected and qualify; and</text>
    </level>
    <level label="7">
      <text>A statement that more than 50% of the shares of capital stock issued shall be held by the mutual holding company.</text>
    </level>
  </level>
  <level label="c">
    <text>The minimum capital requirements of a subsidiary savings bank shall be governed by §§ 3-209 and 3-211 of this article.</text>
  </level>
  <level label="d">
    <text>The articles of incorporation may include any other provision not inconsistent with law.</text>
  </level>
</section>
