1136                                          LAWS OF MARYLAND                                      Ch. 282

(i) Procedures for application and approval;
and

(ii) Conditions for approval of the Division
Director in the final order.

(2) The [Board of Commissioners] DIVISION DIRECTOR
may approve the chartering of a capital stock corporation [by the
Division Director] to acquire the assets of, or merge with, a
mutual association under this section.

(e) EXEMPTIONS FROM OTHER PROVISIONS OF LAW.

A conversion under this section is not subject to the
requirements contained in the following sections of this title:

(1)  §§   9-206   through   9-208,   inclusive;

(2)  §§   9-216   through   9-222,   inclusive;

(3)  §§   9-601   through   9-609,   inclusive; and

(4)  §§   9-627   through   9-630,   inclusive.

Part II. State-Chartered Conversion to Federally Chartered

9-613. Authority to convert.

A Maryland savings and loan association may convert to a
federal association if:

(1)  It is eligible to become a member of the federal
home loan bank system;

(2)  Its members approve;

(3)  Within 6 months after member approval, the
association acts to convert in the manner required by federal
law; and

(4)  It receives a federal charter.
9-614. Meeting of members.

(a) Meeting called.

If     a savings and loan association wishes to convert to a

federal   association, the board of directors shall call a meeting

of the members of the savings and loan association for the

purpose of considering the proposal to convert.

(b) Notice.