Maryland Statutes
Subtitle 8 - Conversions and Voluntary Dissolutions
Section 3-802 - Conversion of Commercial Bank Into National Banking Association

(a)    Any commercial bank may convert into a national banking association as provided by federal law.
    (b)    When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert.
    (c)    When the Comptroller of the Currency issues a certificate of authority to do business as a national banking association, the charter of the commercial bank terminates and the new national banking association shall:
        (1)    Take all property of the commercial bank, subject to all of its liabilities that exist at the time of conversion;
        (2)    Notify the Commissioner of the conversion and the taking of property; and
        (3)    File with the Commissioner a copy of the certificate of authority issued by the Comptroller of the Currency.
    (d)    The Commissioner shall file a copy of the certificate of authority with the State Department of Assessments and Taxation.

Structure Maryland Statutes