Section 9-202 - Formation in general.
§ 9-202. Formation in general.
(a) Incorporators.- Subject to the provisions of this subtitle, five or more adult individuals, each of whom is a resident of this State and a citizen of the United States, may act as incorporators to form a savings and loan association under this title.
(b) Chairman of the incorporators.- The incorporators shall elect a chairman from among themselves.
[CA §§ 6-202, 6-203; 1980, ch. 856; 1986, ch. 282.]