HARRY HUGHES, Governor

503

9-616. FILING OF FEDERAL CHARTER.

WITHIN 60 DAYS AFTER RECEIPT OF ITS FEDERAL CHARTER,
THE CONVERTED FEDERAL ASSOCIATION SHALL FILE A CERTIFIED
COPY OF ITS FEDERAL CHARTER WITH:

(1) THE STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION;

(2) THE BOARD OF COMMISSIONERS; AND

(3) THE CLERK OF THE SUPERIOR COURT OF BALTIMORE
CITY OR OF THE CIRCUIT COURT FOR ANY COUNTY IN WHICH THE
SAVINGS AND LOAN ASSOCIATION CONDUCTED ITS BUSINESS.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA § 6-228(d).

Item (2) of this section is new language added as
an implied corollary to the requirements of
filing a charter and amendments with the Board of
Commissioners and as a normal requirement of
administrative procedure.

The Board of Commissioners advises that this
section is unenforced and unenforceable, but that
benefit may be derived by voluntary compliance.

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

9-617. RESERVED.

9-618. RESERVED.

PART III. FEDERALLY-CHARTERED CONVERSION TO

STATE-CHARTERED.

9-619. AUTHORITY TO CONVERT.

A FEDERAL ASSOCIATION MAY CONVERT TO A MARYLAND SAVINGS
AND LOAN ASSOCIATION IF:

(1)   ITS PRINCIPAL OFFICE IS IN THIS STATE;

(2)   ITS MEMBERS APPROVE; AND

(3)   THE BOARD OF COMMISSIONERS APPROVES.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA § 6-229(a),
(b), and the reference to approval by the Board
of Commissioners in (g).

"Board of Commissioners", "federal association",