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