1384                                          LAWS OF MARYLAND                                      Ch. 355

(D) THE ARTICLES OF INCORPORATION MAY INCLUDE ANY OTHER
PROVISION NOT INCONSISTENT WITH LAW.

4-903.

(A) IF THE BANK COMMISSIONER APPROVES THE ARTICLES OF
INCORPORATION OF THE SUBSIDIARY SAVINGS BANK, THE INCORPORATORS
SHALL FILE FOR RECORD WITH THE STATE DEPARTMENT OF ASSESSMENTS
AND TAXATION ONE ENDORSED COPY OF THE ARTICLE OF INCORPORATION.

(B) UNLESS THE BANK COMMISSIONER HAS ENDORSED THE ARTICLES
OF INCORPORATION AS APPROVED, ARTICLES OF INCORPORATION THAT ARE
FILED FOR RECORD MAY NOT BE EFFECTIVE.

4-904.

(A) WHEN THE ARTICLES OF INCORPORATION ARE FILED FOR
RECORDING IN ACCORDANCE WITH § 4-903 OF THIS TITLE, THE
SUBSIDIARY SAVINGS BANK BECOMES A CORPORATION.

(B) NOTWITHSTANDING ANY CHARTER PROVISION OR PROVISION OF
LAW, A SUBSIDIARY SAVINGS BANK HAS THE RIGHT TO PERPETUAL
EXISTENCE UNTIL FORFEITURE.

4-905.

(A) EXCEPT AS OTHERWISE PROVIDED IN THIS ARTICLE, A
SUBSIDIARY SAVINGS BANK HAS ALL OF THE GENERAL POWERS GRANTED TO
MARYLAND CORPORATIONS UNDER THE MARYLAND GENERAL CORPORATION LAW.

(B) EXCEPT AS OTHERWISE PROVIDED IN THIS ARTICLE,; A
SUBSIDIARY SAVINGS BANK MAY EXERCISE ALL RIGHTS, POWERS, AND
PRIVILEGES AND SHALL BE SUBJECT TO ALL DUTIES AND OBLIGATIONS OF
A SAVINGS BANK UNDER THE LAWS OF THIS STATE.

(C) ANY REFERENCE TO SAVINGS BANK IN ANY OTHER LAW OF THIS
STATE SHALL BE APPLICABLE TO A SUBSIDIARY SAVINGS BANK.

(D) A SUBSIDIARY SAVINGS BANK SHALL BE SUBJECT TO ALL THE
PROVISIONS OF TITLE 3, SUBTITLE 3 OF THIS ARTICLE REGARDING ITS
STOCK.

4-906.

A SUBSIDIARY SAVINGS BANK MAY NOT DO BUSINESS UNTIL;

(1) THE SUBSIDIARY SAVINGS BANK RECEIVES FROM THE
BANK COMMISSIONER A CERTIFICATE OF AUTHORITY TO DO BUSINESS; AND

(2) THE REQUIRED CAPITAL STOCK AND THE REQUIRED
SURPLUS IS PAID IN FULL.

4-907.