258

LASS OF MARYLAND

Ch. 33

COPIES OF THE ARTICLES TO THE INCORPORATORS.

(3) IF FORMATION OF THE SAVINGS BANK IS
APPROVED, THE BANK COMMISSIONER SHALL:

(I)   RETURN ONE TWO OF THE ENDORSED COPIES
OF THE ARTICLES TO THE INCORPORATORS; AND

(II)   KEEP AND RECORD ONE OF THE ENDORSED
COPIES.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA § 6-104 (a)
through (d)(1).

In the introductory clause of subsection (b) of
this section, the present phrase "from the best
available sources of information" is deleted as
unnecessary.

In subsection (b) (2) of this section, the phrase
"and directors named in the articles" is added
since these directors, rather than the

incorporators, initially direct the conduct of
the business of a savings bank.

Present CA § 6-104(d) (2) and (3), which sets the
examination fees for amendments and new branch
applications, now appears in § 4-210(d) of this
subtitle and § 5-501(b) of this article.

4-204. SAME — FILING FOR RECORD.

(A)        FILING FOR RECORD.

IF THE BANK COMMISSIONER APPROVES THE ARTICLES OF
INCORPORATION, THE INCORPORATORS SHALL FILE FOR RECORD ONE
OF THE ENDORSED COPIES OF THE ARTICLES WITH THE EACH OF THE
FOLLOWING:

(1) THE CLERK OF THE COURT FOR THE COUNTY WHERE

THE SAVINGS BANK IS TO BE LOCATED; AND

(2) THE STATE DEPARTMENT OF ASSESSMENTS AND

TAXATION.

(B)   ENDORSEMENT REQUIRED.

ARTICLES OF INCORPORATION THAT ARE FILED FOR RECORD ARE
NOT EFFECTIVE UNLESS THE BANK COMMISSIONER HAS ENDORSED THE
ARTICLES AS APPROVED.

REVISOR'S NOTE: Subsection (a) of this section is new
language derived without substantive change from
CA § 6-105 (a).

Subsection (b) of this section is new language