424

LAWS OF MARYLAND

Ch. 33

THE NAME OF A GUARANTY STOCK ASSOCIATION:

(1)   SHALL INCLUDE AT ALL TIMES IN PARENTHESES
THE PHRASE "STOCK CORPORATION"; AND

(2)   MAY NOT INCLUDE THE WORD "ASSOCIATION".

REVISOR'S NOTE: This section presently appears as the
first clause of CA § 6-201(j) and CA §§
6-213(c)(5) and 6-218(a).

In subsection (a)(2) of this section, the phrase
"combination of words" is substituted for
"combination of them" for clarity.

Present CA § 6—218(b), which prohibits the use of
certain names by any corporation that does not
comply with this title, now appears in § 9—102 of
this title.

The only other changes are in style.

"Guaranty stock association" and "savings and
loan association" are defined in § 9—101 of this
article.

9-204. ARTICLES OF INCORPORATION AND BYLAWS.

(A)      CONTENT.

(1)   THE ARTICLES OF INCORPORATION OR BYLAWS OF A
SAVINGS AND LOAN ASSOCIATION MAY:

(I)   LIMIT THE NUMBER OF SHARES THAT EACH
SHAREHOLDER MAY HOLD IN THE ASSOCIATION;

(II)   SET THE TIME AND AMOUNT OF NOT MORE
THAN $1 A WEEK TO BE PAID FOR INSTALLMENTS ON EACH SHARE;

(III)   SPECIFY A QUORUM FOR ANNUAL OR
SPECIAL MEETINGS OF ITS MEMBERS; AND

(IV) RESTRICT VOTING RIGHTS TO ONE VOTE
FOR EACH PERSON.

(2)   THE ARTICLES OF INCORPORATION OF A GUARANTY
STOCK ASSOCIATION SHALL PROVIDE FOR THE ISSUANCE OF GUARANTY
STOCK.

(B)   EXECUTION OF ARTICLES.

THE INCORPORATORS SHALL SIGN AND ACKNOWLEDGE TWO COPIES
OF THE ARTICLES OF INCORPORATION.

REVISOR'S NOTE: This section presently appears as CA §
6—207, the first sentence of CA § 6-219(b), and
CA § 6-222(a)(1) and (3) and (b).