A proposed plan of conversion to a commercial bank and proposed charter amendments to conform to the conversion require approval by a majority vote of the total number of votes eligible to be cast by the stockholders of a stock association.
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