Md. Code, Fin. Inst. § 9-602

Current with changes from the 2024 Legislative Session

Section 9-602 - Application to convert

To convert to a capital stock association, a mutual association shall deliver to the Division Director:

(1) A filing fee of $1,000;

(2) An application for conversion;

(3) A certified copy of the resolution of the board of directors that authorizes the conversion;

(4) The proposed amended charter and bylaws amendments;

(5) The proposed notice of the meeting to consider conversion, and the time and manner in which notice will be given to members;

(6) The proposed proxy statement;

(7) The proposed plan of conversion; and

(8) A certified audit of the association.

Md. Code, FI § 9-602