§ 9–628
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 9-628 (2026)
Title 9. Savings and Loan Associations
Subtitle 6. Conversions; Extraordinary Actions
§ 9–628LinkCopy Citation
A savings and loan association may effect a statutory merger into any other savings and loan association, any savings bank, or any out-of-state association as defined in § 9-1001(i) of this title if the plan of statutory merger:
(1)
Complies with Title 3 of the Corporations and Associations Article;
(2)
Is approved by:
(i)
The board of directors of both the successor and the transferor;
(ii)
The shareholders or members of a transferor association; and
(iii)
The Division Director; and
(3)
The out-of-state association complies with § 9-1004 of this title.