500

LAWS OF MARYLAND

Ch. 33

charter.

Subsection (b)(1) and (2)(i) of this section is
new language added for clarity.

In subsection (b)(2)(ii) of this section, "final
order of approval" is substituted for "letter of
formal approval" in keeping with administrative
procedure.

"Division Director" and "guaranty stock
association" are defined in § 9—101 of this
title.

9-609. APPEAL.

ANY APPLICANT AGGRIEVED BY THE ACTION OR NONACTION OF
THE DIVISION DIRECTOR UNDER §§ 9-605 OR 9-608 OF THIS
SUBTITLE MAY APPEAL IN ACCORDANCE WITH TITLE 8, SUBTITLE 4
OF THIS ARTICLE.

REVISOR'S NOTE: This section presently appears as CA §
6-217(g).

The only changes are in style.

"Division Director" is defined in § 9-101 of this
title.

9-610. CONVERSION EFFECTIVE.

(A)   FILING.

AFTER THE CONVERTING ASSOCIATION RECEIVES A FINAL ORDER
OF APPROVAL FROM THE DIVISION DIRECTOR, THE BOARD OF
DIRECTORS SHALL FILE THE ENDORSED CHARTER AMENDMENTS WITH
THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION.

(B)   EFFECTIVE.

WHEN THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION
ACCEPTS THE CHARTER AMENDMENTS FOR RECORD, THE MUTUAL
ASSOCIATION BECOMES A GUARANTY STOCK ASSOCIATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA § 6-217(f).

In subsection (a) of this section, "final order
of approval" is substituted for "letter of formal
approval" in keeping with administrative

procedure.

In subsection (b) of this section, the phrase
"the mutual association becomes a guaranty stock
association" is substituted for "conversion shall
take effect" to conform to similar provisions
elsewhere in the Code.