(a) After the final order of approval, the board of directors of the converting association shall file the endorsed charter amendments with the State Department of Assessments and Taxation.
(b) When the State Department of Assessments and Taxation accepts the charter amendments for record, the mutual association becomes a capital stock association.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 6 - Conversions; Extraordinary Actions
Part I - Mutual Association Conversion to Capital Stock Association
Section 9-601 - Authority to Convert
Section 9-602 - Application to Convert
Section 9-603 - Proposed Plan of Conversion
Section 9-604 - Review by Division Director
Section 9-605 - Preliminary Approval
Section 9-606 - Meeting of Members
Section 9-607 - Member Approval
Section 9-608 - Approval by Division Director
Section 9-610 - Effective Date of Conversion
Section 9-611 - Modified Conversions of Savings and Loan Associations to Capital Stock Associations
Section 9-612 - Voluntary Conversions of Savings and Loan Associations to Capital Stock Associations