Maryland Statutes
Part IV - Consolidation; Merger; Transfer of Assets; Statutory Merger
Section 9-628 - Statutory Merger

A savings and loan association may effect a statutory merger into any other savings and loan association, any savings bank, or any out-of-state association as defined in § 9-1001(i) of this title if the plan of statutory merger:
        (1)    Complies with Title 3 of the Corporations and Associations Article;
        (2)    Is approved by:
            (i)    The board of directors of both the successor and the transferor;
            (ii)    The shareholders or members of a transferor association; and
            (iii)    The Division Director; and
        (3)    The out-of-state association complies with § 9-1004 of this title.

Structure Maryland Statutes