{"data":{"id":"us-md/md.-code-financial-institutions-9-208.1","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–208.1","heading":"","body":"(a) Except as provided in subsection (b) of this section, the Division Director may not approve any applications seeking incorporation of a newly formed savings and loan association under this title on or after July 1, 1990.\n(b) The Division Director may approve an application seeking incorporation of a newly formed savings and loan association under this title if:\n(1) The application provides that the newly formed association will, immediately after filing its articles of incorporation with the State Department of Assessments and Taxation, convert to a commercial bank under the provisions of §§ 9-631 through 9-639 of this title or convert to a federally chartered savings and loan association under §§ 9-613 through 9-615 of this title;\n(2) The association does not operate as a savings and loan association under this title; and\n(3) All other requirements set forth in this title and imposed by the Commissioner are satisfied.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-208.1","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"22ab8bfaeb0331f132e42556e84b5e6b4048bd9a02f42dd4551b14e8c2e463b2","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-208","next":"us-md/md.-code-financial-institutions-9-209"},"notice":"GroundRules: Original legal text. Not legal advice."}