§ 9-1107. Effective date of conversion

Latest version.

(a) Filing endorsed copy of application required. -- On approval of the application for conversion, the applicant shall file an endorsed copy of the application with the State Department of Assessments and Taxation.

(b) Acceptance of application for record. -- The mutual association becomes a credit union when the application and endorsed amended articles and bylaws by the State Department of Assessments and Taxation accepts the application for record.

(c) Certification of acceptance. -- The credit union shall certify the acceptance of the application and endorsed amended articles and bylaws by the State Department of Assessments and Taxation within 10 days of receiving the acceptance to the Commissioner.

HISTORY: 1988, ch. 635; 1996, ch. 326, § 2.

                    
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