§ 9–1108
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 9-1108 (2026)
Title 9. Savings and Loan Associations
Subtitle 11. Mutual Association Conversion to a Credit Union
§ 9–1108LinkCopy Citation
(a)
The Commissioner may require any changes to the application or exhibits that the Department considers necessary.
(b)
If the application for conversion is denied, the Commissioner shall endorse and date a copy of the application “denied”, return it to the mutual association, and certify this action to the State of Maryland Deposit Insurance Fund Corporation.
(c)
If the application for conversion is approved, the Commissioner shall:
(1)
Sign, date, and endorse each copy of the application for conversion as “approved”;
(2)
Keep and record 1 copy of each endorsed application; and
(3)
Certify these actions taken to the share insurer.