Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 6 - Conversions; Extraordinary Actions

Part I - Mutual Association Conversion to Capital Stock Association

Section 9-601 - Authority to Convert - A mutual association may convert to a capital stock association...

Section 9-602 - Application to Convert - To convert to a capital stock association, a mutual association...

Section 9-603 - Proposed Plan of Conversion - A proposed plan of conversion to a capital stock association...

Section 9-604 - Review by Division Director - The Division Director: (1) Shall review an application for conversion...

Section 9-605 - Preliminary Approval - Within 60 days of the filing of an application, if...

Section 9-606 - Meeting of Members - (a) On receipt of the Division Director’s letter of preliminary...

Section 9-607 - Member Approval - A proposed plan of conversion to a capital stock association...

Section 9-608 - Approval by Division Director - (a) The board of directors of the converting association shall...

Section 9-609 - Appeal - Any applicant aggrieved by the action or nonaction of the...

Section 9-610 - Effective Date of Conversion - (a) After the final order of approval, the board of...

Section 9-611 - Modified Conversions of Savings and Loan Associations to Capital Stock Associations - (a) In this section, “savings and loan association” means a...

Section 9-612 - Voluntary Conversions of Savings and Loan Associations to Capital Stock Associations - (a) In this section, “savings and loan association” means a...

Part II - State-Chartered Conversion to Federally Chartered

Section 9-613 - Authority to Convert - A Maryland savings and loan association may convert to a...

Section 9-614 - Meeting of Members - (a) If a savings and loan association wishes to convert...

Section 9-615 - Member Approval - A proposal to convert to a federal association requires approval...

Part III - Federally Chartered Conversion to State-Chartered

Section 9-618 - Authority to Convert - A federal association may convert to a Maryland savings and...

Section 9-619 - Member Approval - A proposal to convert to a Maryland savings and loan...

Section 9-620 - Application to Convert - To convert to a Maryland savings and loan association, the...

Section 9-621 - Notice of Filing and Hearing - (a) (1) When the Division Director receives the items listed...

Section 9-622 - Findings Required for Approval - The Division Director shall approve an application if the Division...

Section 9-623 - Approval or Refusal; Appeal - (a) The Division Director may require any change in the...

Section 9-624 - Filing for Record; Status - (a) On final order of approval of the articles of...

Part IV - Consolidation; Merger; Transfer of Assets; Statutory Merger

Section 9-627 - Authority to Merge, Consolidate, or Transfer Assets - (a) A savings and loan association may consolidate with, merge...

Section 9-628 - Statutory Merger - A savings and loan association may effect a statutory merger...

Section 9-629 - Partial Liquidation, Dissolution, or Reorganization - A savings and loan association may reorganize, partially liquidate, or...

Section 9-630 - Approval or Disapproval of Plan; Appeal - (a) To consolidate, merge, transfer assets, effect a statutory merger,...

Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank

Section 9-631 - When Conversion Permitted - A capital stock savings and loan association may convert to...

Section 9-632 - Procedure for Conversion - To convert to a commercial bank, a capital stock savings...

Section 9-633 - Duty of Commissioner - The Commissioner: (1) Shall review an application for conversion to...

Section 9-634 - Issuance of Letter of Preliminary Approval - Within 60 days of the filing of an application, if...

Section 9-635 - Meeting for Consideration of Plan of Conversion - (a) On receipt of the Commissioner’s letter of preliminary approval,...

Section 9-636 - Stockholder Approval - A proposed plan of conversion to a commercial bank and...

Section 9-637 - Delivery of Minutes and Charter Amendments; Action by Commissioner - (a) The board of directors of the converting association shall...

Section 9-638 - Appeals - Any applicant aggrieved by the action or nonaction of the...

Section 9-639 - Filing Endorsed Charter Amendments; Acceptance of Charter Amendments - (a) After the final order of approval, the board of...

Section 9-640 - Powers of Converted Capital Stock Savings and Loan Association; Assets; Conducting Insurance Activity - (a) Except as provided in subsections (b), (c), and (d)...