(a) Subject to the provisions of this subtitle, five or more adult individuals, each of whom is a resident of this State and a citizen of the United States, may act as incorporators to form a savings and loan association under this title.
(b) The incorporators shall elect a chairman from among themselves.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Section 9-202 - Formation in General
Section 9-203 - Name of Savings and Loan Association
Section 9-204 - Articles of Incorporation; Proposed Bylaws
Section 9-205 - Application to Organize
Section 9-206 - Publication of Filing; Hearing Set
Section 9-207 - Division Director's Review
Section 9-208 - Approval or Refusal; Appeal
Section 9-208.1 - Approvals on or After July 1, 1990
Section 9-209 - Filing for Record; Status
Section 9-210 - Forfeiture of Charter for Failure to Begin Business or for Nonuse
Section 9-211 - Charter Amendment
Section 9-212 - Revival of Charter
Section 9-213 - Division Director May Require Filing of Bylaws