Md. Code, Financial Institutions § 10–111

(a) (1) Any association or the incorporators of a proposed association may apply to the Fund Director to become a member association.

(2) The Fund Director shall refer each application received to the Division Director for certification of insurability.

(b) If the Division Director approves the financial affairs, solvency, management, and board of directors of an association or proposed association for insurance of savings accounts, the Division Director shall so certify to the Fund Director.