# Financial Institutions (GFI)

## Title 9. Savings and Loan Associations

### Subtitle 11. Mutual Association Conversion to a Credit Union

#### Section 9-1101

In this subtitle, "mutual association" means an association that:

(1) Is a corporation chartered under the laws of the State as a savings and loan association that does not have the authority to issue capital stock;

(2) Is insured by the State of Maryland Deposit Insurance Corporation; and

(3) Has assets of $15,000,000 or less or had total assets of less than $15,000,000 as of May 18, 1985.

---

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