Maryland Statutes
Part III - Federally Chartered Conversion to State-Chartered
Section 9-618 - Authority to Convert

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

Structure Maryland Statutes