3114

LAWS OF MARYLAND

Ch. 856

(D)  APPROVAL OF PLAN.

(1)  WITHIN 60 DAYS OF THE FILING, THE DIVISION
DIRECTOR SHALL APPROVE OR DISAPPROVE ANY PLAN SUBMITTED
UNDER SUBSECTION (A).

(2)  IF THE DIVISION DIRECTOR APPROVES THE PLAN
OF CONSOLIDATION, MERGER, TRANSFER OF ASSETS, STATUTORY
MERGER, PARTIAL LIQUIDATION, DISSOLUTION, OR REORGANIZATION,
THE DIVISION DIRECTOR SHALL CERTIFY EACH DOCUMENT THAT THE
STATE DEPARTMENT OF ASSESSMENTS AND TAXATION REQUIRES.

(E)  APPEAL.

ANY APPLICANT AGGRIEVED BY THE ACTION OR NONACTION OF
THE DIVISION DIRECTOR MAY APPEAL IN ACCORDANCE WITH TITLE 8,
SUBTITLE 4 OF THIS ARTICLE.

COMMITTEE COMMENT: This section replaces former CA §
6-227.

Subsection (a) of this section replaces the
references in former CA §§ 6-224 and 6-226 to a
filing of the respective plans.

Subsection (b)(2)(i) of this section is added to
conform to the legislative intent expressed in
former Art. 23, § 161U.

Additionally, the State Documents Law does not
clearly require publication of such proposed
plans. The only provision of the State Documents
Law that might be applicable requires publication
in the Maryland Register of:

"(11) Any other document the General Assembly
requires ... to be published...."

Since it is not required that notice of a filing
be published, and it is unlikely that it is
intended that any plan of liquidation, et cetera
be published in full, the apparent meaning of
former CA § 6-227(a)(2) is that publication shall
be "in the Maryland Register in the manner
provided in State Documents Law".

In subsection (b)(3) of this section, the phrase
"either party to a merger" is substituted for the
provision in former CA § 6-227(a)(2) that applied
only to the transferor, on the advice of the
Board of Commissioners, and to conform to a
similar provision in banking law.

"Division Director", "savings and loan
association", "statutory merger", and "successor"
are defined in § 9-101 of this title.