HARRY HUGHES, Governor

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(b) Approval order.

On receipt of the minutes and charter amendments under
subsection (a) of this section, the Division Director shall:

(1)  Endorse the executed copy of the charter
amendments as approved; and

(2)  Send to the converting association:

(i) The endorsed copy; and

(ii) A final order of approval of the
conversion to a capital stock association.

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]
TO THE CIRCUIT COURT FOR BALTIMORE CITY APPROPRIATE CIRCUIT COURT
CIRCUIT COURT FOR BALTIMORE CITY.

9-610. Effective date of conversion.

(a)  Filing of charter amendments required.

After the final order of approval, the board of directors of
the converting association shall file the endorsed charter
amendments with the State Department of Assessments and Taxation.

(b)  Acceptance of charter amendments for record.

When the State Department of Assessments and Taxation
accepts the charter amendments for record, the mutual association
becomes a capital stock association.

9-611.

(a)  DEFINITION.

In this section "savings and loan association" means a
savings and loan association organized under this title as a
mutual association.

(b)  MODIFIED CONVERSION TO A CAPITAL STOCK ASSOCIATION.

Notwithstanding any other provision of this title, the
Division Director may approve a conversion of a savings and loan
association to a capital stock association that deviates from the
standard requirements of this title if the circumstances of the
conversion would, under federal law, permit the Federal Home Loan
Bank Board to authorize a modified conversion.

(C) CONDITIONS FOR CONVERSION APPROVAL.