HARRY HUGHES, Governor                                       1137

The savings and loan association shall give notice of the
meeting as provided in Title 2, Subtitle 5 of the Corporations
and Associations Article.

9-615. Member approval.

A proposal to convert to a federal association requires
approval by a majority vote of the total number of votes eligible
to be cast by the members of the savings and loan association.

9-616, 9-617. Reserved.

Part III. Federally Chartered Conversion to State Chartered

9-618.. 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] DIVISION DIRECTOR
approves.

9-619. Member approval.

A proposal to convert to a Maryland savings and loan
association requires approval by a majority vote of the total
number of votes eligible to be cast by the members of the federal
association.

9-620. Application to convert.

To convert to a Maryland savings and loan association, the
board of directors of a federal association shall deliver to the
[Board of Commissioners] DIVISION DIRECTOR:

(1)  A written application in the form that the
[Board] DIVISION DIRECTOR requires;

(2)  The executed copy of the proposed articles of
incorporation and a conformed copy;

(3)  The proposed bylaws;

(4)  Any additional exhibits the [Board] DIVISION
DIRECTOR requires; and

(5)  A filing fee of [$750] $1,000.
9-621. Notice of filing and hearing.

(a) Notice required.