§ 9-212
102 words·~1 min read·
/md/financial-institutions/9-212A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–212.
(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.