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Maryland Code, Financial Institutions § 9-212

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

(a) A savings and loan association that forfeits its charter may revive the charter in accordance with Title 3, Subtitle 5 of the Corporations and Associations Article only if:

(1) The Division Director approves the proposed articles of revival; and

(2) The charter was forfeited for:

(i) Failure to file an annual report with the State Department of Assessments and Taxation; or

(ii) Nonpayment of taxes.

(b) Not later than 30 days after a savings and loan association files articles of revival with the Division Director for examination, the Director shall pass an order approving or refusing the articles of revival.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 9-212 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-9-212/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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