Section 4-801 – “Savings and Loan Association” Defined
In this subtitle, “savings and loan association” means a savings and loan association organized under Title 9 of this article and insured by the Maryland Deposit Insurance Fund Corporation.
Section 4-802 – Reorganization of Savings Bank to Become Mutual Holding Company
(a) (1) Notwithstanding any other provision of law, any savings bank may be reorganized in order to become a mutual holding company by submitting to the Commissioner an application for approval of reorganization. (2) A reorganization submitted for approval shall have been approved by the savings bank under the procedures described in § 4–701(c) of this title. (b) The […]
Section 4-803 – Filing of Application; Investigation of Proposed Articles; Approval or Rejection of Application
(a) The savings bank shall: (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. (b) The Commissioner shall investigate the proposed articles of incorporation of the subsidiary savings bank and determine if: (1) The […]
Section 4-804 – Retention of Assets; Powers of Mutual Holding Company After Reorganization; Disposition of Stock of Subsidiary Savings Bank or Savings and Loan Association; Acquisition of Assets or Stock; Deposits
(a) In connection with the reorganization of a savings bank into a mutual holding company pursuant to this subtitle and with the approval of the Commissioner, the mutual holding company may retain assets to the extent that they are not then required by the subsidiary savings bank to satisfy State or federal capital or reserve requirements. […]
Section 4-805 – Applicability of Federal Bank Holding Company Act of 1956
A mutual holding company shall be subject to the provisions of the federal Bank Holding Company Act of 1956, as amended, and all the provisions of this article governing bank holding companies.
Section 4-805.1 – Capital Stock
A mutual holding company is a mutual association and may not have any capital stock.
Section 4-806 – Regulations
The Commissioner may adopt regulations to carry out the provisions of this subtitle.
Section 4-807 – Holding Company Subject to Provisions of Subtitles 4, 5, and 7 of This Title
A mutual holding company shall be subject to the provisions of Subtitles 4, 5, and 7 of this title.