(a) On receipt of the Commissioner’s letter of preliminary approval, the board of directors of the converting association shall call a meeting of the members for the purpose of considering the plan of conversion to a commercial bank.
(b) At least 10 days, but not more than 90 days, before the meeting, the converting association shall mail notice of the meeting to all members entitled to vote.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 6 - Conversions; Extraordinary Actions
Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank
Section 9-631 - When Conversion Permitted
Section 9-632 - Procedure for Conversion
Section 9-633 - Duty of Commissioner
Section 9-634 - Issuance of Letter of Preliminary Approval
Section 9-635 - Meeting for Consideration of Plan of Conversion
Section 9-636 - Stockholder Approval
Section 9-637 - Delivery of Minutes and Charter Amendments; Action by Commissioner
Section 9-639 - Filing Endorsed Charter Amendments; Acceptance of Charter Amendments