HARRY HUGHES, Governor                                       1139

Any applicant aggrieved by the order of the [Board of
Commissioners] DIVISION DIRECTOR 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.

(d) Approval or disapproval of articles.

(1)  After the time for appeal of the order expires or
on final determination of any appeal taken, the [Board of
Commissioners] DIVISION DIRECTOR shall endorse and date each copy
of the article "approved" or "denied".

(2)  If the [Board of Commissioners] DIVISION DIRECTOR
approves the articles, [it] THE DIVISION DIRECTOR shall:

(i) Return the endorsed, executed articles to
the chairman of the board of directors; and

(ii) Keep the endorsed conformed copy.

9-624. Filing for record; status.

(a)  Filing required.

On final order of approval of the articles of incorporation
by the [Board of Commissioners] DIVISION DIRECTOR, the board of
directors of the converting association shall file for record
with the State Department of Assessments and Taxation the
endorsed, executed articles of incorporation.

(b)  State-chartered status.

When the State Department of Assessments and Taxation
accepts the articles of incorporation for record, the federal
association becomes a Maryland savings and loan association.

(c)  Certification of filing.

The board of directors of the converted association shall
send a copy of the certificate acknowledging acceptance of the
articles of incorporation to the [Board of Commissioners]
DIVISION DIRECTOR.

9-625, 9-626. Reserved.

Part IV. Consolidation; Merger; Transfer of Assets;
Statutory Merger

9-627. Authority to merge, consolidate, or transfer assets.

A savings and loan association may consolidate with, merge
into, or transfer its assets to any other savings and loan
association or any savings back if: