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Maryland Code, Financial Institutions § 4-210

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Any savings bank may amend its charter in any manner not inconsistent with law, as provided in this section.

(b) A proposed amendment shall be approved at a meeting called for that purpose by:

(1) The affirmative vote in person or by proxy of two thirds of the members; or

(2) If there are no members, the affirmative vote of two thirds of the board of directors.

(c) After an amendment is approved by the members or the directors:

(1) The president of the savings bank and either its cashier or treasurer shall certify the amendment; and

(2) The amendment shall be signed, filed with the Commissioner for examination, and, if approved by the Commissioner, filed for record as required for articles of incorporation.

(d) On filing the amendment for examination, the savings bank shall pay to the Commissioner an examination fee of $20.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 4-210 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-4-210/

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