HARRY HUGHES, Governor

3107

"Federal association" and "savings and loan
association" are defined in § 9-101 of this
title.

9-620. APPLICATION TO CONVERT.

TO CONVERT TO A MARYLAND SAVINGS AND LOAN ASSOCIATION
THE BOARD OF DIRECTORS OF A FEDERAL ASSOCIATION SHALL
DELIVER TO THE BOARD OF COMMISSIONERS:

         (1) A WRITTEN APPLICATION IN THE FORM THAT THE

BOARD REQUIRES;

           (2) THE EXECUTED COPY OF THE PROPOSED ARTICLES
OF INCORPORATION AND A CONFORMED COPY;

(3) THE PROPOSED BYLAWS;

AND                (4) ANY ADDITIONAL EXHIBITS THE BOARD REQUIRES;

(5) A FILING FEE OF $750.

COMMITTEE COMMENT: This section replaces former CA §
6-229(c).

Items (2), (3), and (4) of this section are new
language added as normal administrative procedure
and to conform this section to similar provisions
elsewhere in this title.

"Maryland" is added to the defined term "savings
and loan association" here for emphasis in
comparison with a converting federal association.

"Board of Commissioners", "federal association"
and "savings and loan association" are defined in
§ 9-101 of this title.

9-621. PUBLICATION OF FILING; HEARING SET.

(A)  NOTICE AND HEARING.

(1) WHEN THE BOARD OF COMMISSIONERS RECEIVES THE
ITEMS LISTED IN § 9-620 OF THIS SUBTITLE, THE BOARD SHALL
PUBLISH A NOTICE OF THE FILING.

           (2) THE NOTICE SHALL STATE THAT A PUBLIC HEARING
IS SCHEDULED ON A DATE THAT IS NOT MORE THAN 45 DAYS AFTER
THE FILING.

(B)  PUBLICATION.

THE NOTICE SHALL BE PUBLISHED: