(a) After the final order of approval, the board of directors of the converting association shall file the endorsed charter amendments with the State Department of Assessments and Taxation.
(b) When the State Department of Assessments and Taxation accepts the charter amendments for record, the stock association becomes a commercial bank.
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