Section 9-711 – Powers of Circuit Court in Administering Conservatorship or Receivership
(a) The circuit court administering a conservatorship or receivership under this title has full power to approve and allow or to reject and disallow claims against the conservatorship or receivership estate. (b) In a receivership, the court administering the receivership may estimate for purposes of allowance: (1) Any contingent, unliquidated, unmatured, or disputed claim, the fixing, liquidation, maturation, […]
Section 9-712 – Approval of Sale, Transfer, or Pledge of Assets
(a) In this section, savings and loan association includes its affiliates, subsidiaries, or a holding company. (b) (1) Upon application of the conservator or receiver, if the court, after notice and a hearing, determines that the consideration to be received from a transaction is fair and reasonable, the circuit court administering a conservatorship or receivership under this title […]
Section 9-801 – “Foreign Association” Defined
In this subtitle, “foreign association” means any savings and loan association other than: (1) A savings and loan association incorporated under the laws of this State; or (2) A savings and loan association incorporated under the laws of the United States that has its principal office in this State.
Section 9-802 – General Prohibition; Exceptions
(a) Except as provided under subsection (b) of this section, a foreign association or a savings and loan association that maintains its principal office outside this State may not: (1) Have an office for business in this State except for an office that was open for business in this State before June 1, 1955; (2) Have an electronic […]
Section 9-803 – Relocation of Permitted Office
(a) Subject to § 9-309 of this title and the approval of the Division Director, a foreign association or any savings and loan association that maintains its principal office outside this State may relocate an existing office in this State if: (1) The office was open on or before March 1, 1955; and (2) The relocation is within: […]
Section 9-804 – Activities Not Considered Doing Business
(a) For the purposes of this article and the Corporations and Associations Article, in addition to the activities listed in §§ 7–103 and 7–104 of the Corporations and Associations Article, the following activities of a foreign association do not constitute doing business or having tax situs in this State: (1) Making or investing in loans on property […]
Section 9-805 – Examination of Offices
Except for a foreign association incorporated under the laws of the United States, the Division Director may examine the Maryland offices of any foreign association as provided in Subtitle 5 of this title.
Section 9-639 – Filing Endorsed Charter Amendments; Acceptance of Charter Amendments
(a) After the final order of approval, the board of directors of the converting association shall file the endorsed charter amendments with the State Department of Assessments and Taxation. (b) When the State Department of Assessments and Taxation accepts the charter amendments for record, the stock association becomes a commercial bank.
Section 9-622 – Findings Required for Approval
The Division Director shall approve an application if the Division Director finds: (1) The converting federal association has met the requirements of Subtitle 2 of this title that relate to the formation of a savings and loan association; (2) The character, responsibility, and general fitness of the officers and directors of the converting federal association command confidence […]
Section 9-640 – Powers of Converted Capital Stock Savings and Loan Association; Assets; Conducting Insurance Activity
(a) Except as provided in subsections (b), (c), and (d) of this section, a capital stock savings and loan association converted under this part to a commercial bank may exercise all the powers of, and shall be subject to all the restrictions imposed on, a commercial bank under this article. (b) A commercial bank that results from […]