# Financial Institutions (GFI)

## Title 9. Savings and Loan Associations

### Subtitle 6. Conversions; Extraordinary Actions

#### Section 9-618

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 Sec.Sec. 9-631 through 9-639 of this subtitle or convert to a federally chartered savings and loan association under Sec.Sec. 9-613 through 9-615 of this subtitle.

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