Section 9-1108 - Changes in application or exhibits; actions of Commissioner upon approval or denial of application. - Maryland Statutes

§ 9-1108. Changes in application or exhibits; actions of Commissioner upon approval or denial of application.
 

(a)  Changes in application or exhibits.- The Commissioner may require any changes to the application or exhibits that the Department considers necessary. 

(b)  Denial.- If the application for conversion is denied, the Commissioner shall endorse and date a copy of the application "denied", return it to the mutual association, and certify this action to the State of Maryland Deposit Insurance Fund Corporation. 

(c)  Approval.- If the application for conversion is approved, the Commissioner shall: 

(1) Sign, date, and endorse each copy of the application for conversion as "approved"; 

(2) Keep and record 1 copy of each endorsed application; and 

(3) Certify these actions taken to the share insurer. 
 

[1988, ch. 635; 1996, ch. 326, § 2.]