§ 9-1009. Conversion to or from federal or regional charter; divestment by associations not federally chartered

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(a) Conversion to or from federal or original charter. -- An out-of-state association's status as an out-of-state association shall not be affected by its conversion from a federal charter to a charter issued by a region jurisdiction, or by conversion from a charter issued by a region jurisdiction to a federal charter, so long as the out-of-state association otherwise continues to qualify as an out-of-state association in accordance with § 9-1001(i) of this subtitle.

(b) Divestment of associations not federally chartered. -- An out-of-state association that is not a federally chartered association on and after June 30, 1992 shall divest itself of any deposit-taking offices in Maryland, in accordance with § 9-1006 of this subtitle.

HISTORY: 1987, ch. 544; 1990, ch. 149.

                    
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