A proposal to convert to a Maryland savings and loan association requires approval by a majority vote of the total number of votes eligible to be cast by the members of the federal association.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 6 - Conversions; Extraordinary Actions
Part III - Federally Chartered Conversion to State-Chartered
Section 9-618 - Authority to Convert
Section 9-619 - Member Approval
Section 9-620 - Application to Convert
Section 9-621 - Notice of Filing and Hearing
Section 9-622 - Findings Required for Approval