§ 9–208.1
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 9-208.1 (2026)
Title 9. Savings and Loan Associations
Subtitle 2. Incorporation
§ 9–208.1LinkCopy Citation
(a)
Except as provided in subsection (b) of this section, the Division Director may not approve any applications seeking incorporation of a newly formed savings and loan association under this title on or after July 1, 1990.
(b)
The Division Director may approve an application seeking incorporation of a newly formed savings and loan association under this title if:
(1)
The application provides that the newly formed association will, immediately after filing its articles of incorporation with the State Department of Assessments and Taxation, convert to a commercial bank under the provisions of §§ 9-631 through 9-639 of this title or convert to a federally chartered savings and loan association under §§ 9-613 through 9-615 of this title;
(2)
The association does not operate as a savings and loan association under this title; and
(3)
All other requirements set forth in this title and imposed by the Commissioner are satisfied.