§ 9–618
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 9-618 (2026)
Title 9. Savings and Loan Associations
Subtitle 6. Conversions; Extraordinary Actions
§ 9–618LinkCopy Citation
A federal association may convert to a Maryland savings and loan association if:
(1)
Its principal office is in this State;
(2)
Its members approve;
(3)
The Division Director approves; and
(4)
Immediately upon filing its articles of incorporation with the State Department of Assessments and Taxation, the association will convert to a commercial bank under the provisions of §§ 9-631 through 9-639 of this subtitle or convert to a federally chartered savings and loan association under §§ 9-613 through 9-615 of this subtitle.