Maryland Code, Financial Institutions § 9-628

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

A savings and loan association may effect a statutory merger into any other savings and loan association, any savings bank, or any out-of-state association as defined in § 9-1001(i) of this title if the plan of statutory merger:

(1) Complies with Title 3 of the Corporations and Associations Article;

(2) Is approved by:

(i) The board of directors of both the successor and the transferor;

(ii) The shareholders or members of a transferor association; and

(iii) The Division Director; and

(3) The out-of-state association complies with § 9-1004 of this title.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 9-628 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-9-628/

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