Maryland Code, Financial Institutions § 4-803

(1) File with the Commissioner for examination the application for approval of reorganization; and

(2) At the time of filing of an application for approval of reorganization, pay to the Commissioner a fee of $1,500.

(1) The articles are framed in accordance with law;

(2) The character, responsibility, and general fitness of the incorporators and directors named in the articles command confidence and warrant belief that the business of the proposed subsidiary savings bank will be conducted honestly and efficiently in accordance with the intent of this article; and

(3) Allowing the proposed subsidiary savings bank to engage in business:

(1) Within 3 months after the application is filed for examination, the Commissioner shall sign, date, and endorse each copy of the articles of incorporation as “approved” or “refused”.

(2) If formation of the subsidiary savings bank is refused, the Commissioner shall return one of the endorsed copies of the articles of incorporation to the incorporators.

(3) If formation of the subsidiary savings bank is approved, the Commissioner shall:

(1) That the plan of reorganization is:

(2) That if the reorganization is pursuant to an acquisition by the mutual holding company of all the stock of a savings and loan association:

(3) That immediately before the reorganization, the depositors of the savings bank are entitled to deposits in the subsidiary savings bank of like amounts, interest rates, and other terms, without interruption of interest;

(4) That all deposits continue to be insured by the Federal Deposit Insurance Corporation up to the maximum amount provided by law; and

(5) That the applicant has met all the requirements of this subtitle and Subtitle 9 of this title.