HARRY HUGHES, Governor

431

ARTICLES OF AMENDMENT SHALL BE FILED AND APPROVED AS
REQUIRED BY THIS SUBTITLE FOR ARTICLES OF INCORPORATION,
EXCEPT THAT:

(1)   THE REQUIREMENT TO PUBLISH NOTICE OF THE
FILING DOES NOT APPLY; AND

(2)   THE FILING FEE IS $10.

REVISOR'S NOTE: This section presently appears as CA §
6-221.

The only changes are in style.

"Savings and loan association" is defined in §
9-101 of this title.

"Charter" is defined in § 1—101 of this article. ,

9-212. REVIVAL OF CHARTER.

(A)   IN GENERAL.

A SAVINGS AND LOAN ASSOCIATION THAT HAS FORFEITED ITS
CHARTER MAI REVIVE THE CHARTER IN ACCORDANCE WITH TITLE 3,
SUBTITLE 5 OF THE CORPORATIONS AID ASSOCIATIONS ARTICLE ONLY
IF:

(1)   THE DIVISION DIRECTOR APPROVES THE PROPOSED
ARTICLES OF REVIVAL UNDER TERMS ESTABLISHED BY THE BOARD OF
COMMISSIONERS; AND

(2)   THE CHARTER WAS FORFEITED FOR:

(I)   FAILURE TO FILE AN ANNUAL REPORT WITH
THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION; OR

(II)   NONPAYMENT OF TAXES.

(B)   ORDER OF APPROVAL OR DISAPPROVAL.

NOT LATER THAN 30 DAYS AFTER A SAVINGS AND LOAN

ASSOCIATION FILES ARTICLES OF REVIVAL WITH THE DIVISION

DIRECTOR FOR EXAMINATION, THE DIRECTOR SHALL PASS AN ORDER
APPROVING OR REFUSING THE ARTICLES OF REVIVAL.

(C)   APPEAL.

THE SAVINGS AND LOAN ASSOCIATION MAY APPEAL THE ORDER
OF THE DIVISION DIRECTOR IN ACCORDANCE WITH TITLE 8,
SUBTITLE 4 OF THIS ARTICLE, AND CHAPTER 1100, SUBTITLE B OF
THE MARYLAND RULES.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA § 6-223.

In subsection (a)(1) of this section, "proposed"