reglab/housing_qa huggingface dataset:
MD. Financial Institutions Code Ann. §  9-627 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part IV - Consolidation; Merger; Transfer of Assets; Statutory Merger|Section 9-627 - Authority to Merge, Consolidate, or Transfer Assets

    (a)    A savings and loan association may consolidate with, merge with or into, or transfer its assets to any other savings and loan association, any savings bank, or any out-of-state association as defined in § 9-1001(i) of this title if:        (1)    It complies with Title 3 of the Corporations and Associations Article;        (2)    The Division Director approves the plan of consolidation, merger, or transfer of assets; and        (3)    The out-of-state association complies with § 9-1004 of this title.    (b)    Notwithstanding any other provision of this section or any other law, the approval by the shareholders or members of a savings and loan association for which a receiver has been appointed under § 9-708 of this title of a plan of consolidation, merger, or transfer of assets of that savings and loan association is not required if, after notice and a hearing, the circuit court administering the receivership determines that:        (1)    The savings and loan association is insolvent; or        (2)    Consummation of the transactions contemplated by the plan of consolidation, merger, or transfer of assets will not result in the shareholders or members of the savings and loan association receiving property of a lesser value in their capacity as shareholders or members than they otherwise would upon a complete liquidation of the savings and loan association in receivership.
MD. Financial Institutions Code Ann. §  9-628 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part IV - Consolidation; Merger; Transfer of Assets; Statutory Merger|Section 9-628 - Statutory Merger

    A savings and loan association may effect a statutory merger into any other savings and loan association, any savings bank, or any out-of-state association as defined in § 9-1001(i) of this title if the plan of statutory merger:         (1)    Complies with Title 3 of the Corporations and Associations Article;        (2)    Is approved by:            (i)    The board of directors of both the successor and the transferor;            (ii)    The shareholders or members of a transferor association; and            (iii)    The Division Director; and        (3)    The out-of-state association complies with § 9-1004 of this title.
MD. Financial Institutions Code Ann. §  9-629 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part IV - Consolidation; Merger; Transfer of Assets; Statutory Merger|Section 9-629 - Partial Liquidation, Dissolution, or Reorganization

    A savings and loan association may reorganize, partially liquidate, or dissolve if:         (1)    It complies with Title 3 of the Corporations and Associations Article; and        (2)    The Division Director approves the plan of reorganization, partial liquidation, or dissolution.
MD. Financial Institutions Code Ann. §  9-631 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-631 - When Conversion Permitted

    A capital stock savings and loan association may convert to a commercial bank if:         (1)    Its stockholders approve;        (2)    Its charter is amended;        (3)    The Commissioner approves;        (4)    All deposits will be insured throughout the conversion;        (5)    The depositors of the capital stock savings and loan association immediately prior to the conversion shall be entitled to deposits in the commercial bank of like amounts, interest rate and other terms, without interruption of interest;        (6)    All deposits shall be insured by the Federal Deposit Insurance Corporation up to the maximum amount provided by law;        (7)    It complies with Title 3 of the Corporations and Associations Article; and        (8)    It has met all the requirements of this part and other applicable provisions in this article.
MD. Financial Institutions Code Ann. §  9-632 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-632 - Procedure for Conversion

    To convert to a commercial bank, a capital stock savings and loan shall deliver to the Commissioner:         (1)    A filing fee of $1,000;        (2)    An application for conversion;        (3)    A certified copy of the resolution of the board of directors that authorizes the conversion;        (4)    The proposed amended charter and bylaws amendments;        (5)    The proposed notice of the meeting to consider conversion, and the time and manner in which notice will be given to stockholders;        (6)    The proposed proxy statement;        (7)    The proposed plan of conversion; and        (8)    Any additional documents required by the Commissioner.
MD. Financial Institutions Code Ann. §  9-633 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-633 - Duty of Commissioner

    The Commissioner:         (1)    Shall review an application for conversion to a commercial bank;        (2)    Shall determine:            (i)    Whether the plan is fair to the stockholders of the converting association and the general public;            (ii)    That insurance of the savings accounts will remain in effect after the conversion;            (iii)    That, after conversion, the commercial bank will be in sound financial condition and will be soundly managed;            (iv)    That conversion will not impair the capital of the association nor adversely affect the association’s operations; and            (v)    That no person, member, employee, or otherwise will receive any inequitable gain or advantage by reason of the conversion;        (3)    May require any changes that are necessary to ensure full disclosure of all material facts;        (4)    May not issue a certificate of authority to commence business to a commercial bank unless all the requirements of this article governing a commercial bank have been met;        (5)    May modify the initial capitalization requirements of the commercial bank if the Commissioner determines that a modification is:            (i)    Reasonably required to protect the welfare of the commercial bank; and            (ii)    Not detrimental to the public interest or to the commercial bank; and        (6)    May adopt regulations to carry out the provisions of this part.
MD. Financial Institutions Code Ann. §  9-634 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-634 - Issuance of Letter of Preliminary Approval

    Within 60 days of the filing of an application, if the Commissioner finds that the stock association has met the requirements of § 9-633 of this subtitle, the Commissioner shall issue to the converting association a letter of preliminary approval of the conversion.
MD. Financial Institutions Code Ann. §  9-635 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-635 - Meeting for Consideration of Plan of Conversion

    (a)    On receipt of the Commissioner’s letter of preliminary approval, the board of directors of the converting association shall call a meeting of the members for the purpose of considering the plan of conversion to a commercial bank.    (b)    At least 10 days, but not more than 90 days, before the meeting, the converting association shall mail notice of the meeting to all members entitled to vote.
MD. Financial Institutions Code Ann. §  9-636 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-636 - Stockholder Approval

    A proposed plan of conversion to a commercial bank and proposed charter amendments to conform to the conversion require approval by a majority vote of the total number of votes eligible to be cast by the stockholders of a stock association.
MD. Financial Institutions Code Ann. §  9-637 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-637 - Delivery of Minutes and Charter Amendments; Action by Commissioner

    (a)    The board of directors of the converting association shall deliver to the Commissioner:        (1)    A certified copy of the minutes of the meeting at which the conversion was approved; and        (2)    The executed charter amendments and a conformed copy.    (b)    On receipt of the minutes and charter amendments under subsection (a) of this section, the Commissioner shall:        (1)    Endorse the executed copy of the charter amendments as approved; and        (2)    Send to the converting association:            (i)    The endorsed copy; and            (ii)    A final order of approval of the conversion to a commercial bank.
MD. Financial Institutions Code Ann. §  9-638 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-638 - Appeals

    Any applicant aggrieved by the action or nonaction of the Commissioner under this subtitle may appeal to the Circuit Court for Baltimore City.
MD. Financial Institutions Code Ann. §  9-639 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-639 - Filing Endorsed Charter Amendments; Acceptance of Charter Amendments

    (a)    After the final order of approval, the board of directors of the converting association shall file the endorsed charter amendments with the State Department of Assessments and Taxation.    (b)    When the State Department of Assessments and Taxation accepts the charter amendments for record, the stock association becomes a commercial bank.
MD. Financial Institutions Code Ann. §  9-640 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 6 - Conversions; Extraordinary Actions|Part V - Capital Stock Savings and Loan Association Conversion to a Commercial Bank|Section 9-640 - Powers of Converted Capital Stock Savings and Loan Association; Assets; Conducting Insurance Activity

    (a)    Except as provided in subsections (b), (c), and (d) of this section, a capital stock savings and loan association converted under this part to a commercial bank may exercise all the powers of, and shall be subject to all the restrictions imposed on, a commercial bank under this article.    (b)    A commercial bank that results from a conversion of a capital stock savings and loan association may hold assets or conduct business activities, other than insurance assets and insurance activities, that result from the conversion and that do not conform with applicable law, unless a different period is authorized by federal regulatory agencies:        (1)    For a period of 5 years after the conversion; and        (2)    If the Commissioner approves, for an additional period not exceeding 5 years.    (c)    A commercial bank resulting from a conversion of a capital stock savings and loan association may hold insurance assets or conduct insurance activities that were held or conducted before the conversion and that do not conform with applicable law, for a period of 2 years after the date of conversion, unless a different period is authorized by federal regulatory agencies.    (d)    Except as provided in subsection (c) of this section, a commercial bank resulting from the conversion of a capital stock savings and loan association may hold insurance assets or conduct insurance activities only to the extent permitted under applicable law for a Maryland commercial bank.
MD. Financial Institutions Code Ann. §  9-701 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part I - Conservatorship|Section 9-701 - Appointment of Conservator

    (a)    With the prior written approval of the Secretary, the Division Director may institute proceedings in the circuit court in the county where the principal office of a savings and loan association is located for the appointment of a conservator if:        (1)    The savings and loan association or related entity fails to comply with a final order of the Division Director; or        (2)    The Division Director considers that the appointment of a conservator is in the public interest.    (b)    Subject to § 9-709 of this subtitle, a court may appoint the Division Director, deputy division director, or an examiner from the Division of Savings and Loan Associations as conservator if the court finds that a savings and loan association or related entity is:        (1)    In an impaired or insolvent condition;        (2)    In substantial violation of any law or regulation;        (3)    Concealing any of its assets or records or refusing to submit its records or affairs for inspection to an examiner or lawful agent or the Division Director;        (4)    Conducting an unsafe or unsound operation;        (5)    In violation of any final order;        (6)    In need of the appointment of a conservator in order to preserve the assets of the savings and loan association for the benefit of the depositors and creditors; or        (7)    Eligible for conservatorship under the provisions of Title 10 of this article.
MD. Financial Institutions Code Ann. §  9-702 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part I - Conservatorship|Section 9-702 - Function of Conservator

    (a)    A conservator shall endeavor to correct the irregularities in the operation of a savings and loan association.    (b)    In addition to the powers set forth in this subtitle and the powers granted by order of the court, a conservator may exercise any or all of the following powers:        (1)    If authorized by the court, exercise the powers, rights, and privileges of the officers, directors, members, and stockholders of the savings and loan association;        (2)    Recommend for the court’s adoption a plan of reorganization, composition, or rearrangement of business, including its liabilities and capital structure;        (3)    Remove any director, officer, or employee of the savings and loan association;        (4)    Borrow from, pledge assets to, and repay a Federal Reserve Bank or other lenders;        (5)    Make wire transfers;        (6)    To the extent authorized by law or court order, pay withdrawals of deposits;        (7)    Pay negotiated order of withdrawal drafts and cashiers checks either directly or repay financial institutions on which the cashiers checks may be drawn;        (8)    Receive new deposits including direct deposit of United States Treasury, Social Security, and other payments;        (9)    Pay a Federal Reserve Bank or other bank cash to fund withdrawals;        (10)    Pay employees and necessary day-to-day operating expenses of the institution;        (11)    If authorized by the court, approve, in place of shareholders or members, a merger, conversion, transfer of assets, reorganization, or acquisition of the savings and loan association; and        (12)    If authorized by the court, request a stay of proceedings in other courts.
MD. Financial Institutions Code Ann. §  9-703 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part I - Conservatorship|Section 9-703 - Operation of Savings and Loan Association by Conservator

    (a)    (1)    If a court appoints a conservator, each director, officer, and employee of a savings and loan association may remain in the respective office or position unless removed in accordance with this subtitle.        (2)    A member, director, officer, or controlling person may not have or exercise any power, right or privilege or act in connection with any of the association’s assets or property unless otherwise approved in writing by the conservator.    (b)    The court may order that members of a savings and loan association:        (1)    Shall continue to make payments in accordance with any contract with the association; and        (2)    May withdraw money from their savings accounts in accordance with the order of the court.    (c)    The conservator may accept new accounts and additions to existing accounts. Any amounts received under this subsection:        (1)    May be segregated; and        (2)    If provided by order of the court, may not be:            (i)    Subject to offset; or            (ii)    Used to liquidate any indebtedness that existed at the time the conservator was appointed or that was incurred to liquidate indebtedness that existed at the time the conservator was appointed.
MD. Financial Institutions Code Ann. §  9-704 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part I - Conservatorship|Section 9-704 - Expenses of Conservatorship

    (a)    A savings and loan association shall pay the expenses of operation during its conservatorship.    (b)    Except as provided in subsection (c) of this section, a savings and loan association shall pay its conservator the compensation that the court determines.    (c)    The Division Director or an examiner from the Division of Savings and Loan Associations may not receive additional compensation as conservator of a savings and loan association.    (d)    Unless authorized by the court, the conservator of a savings and loan association may not:        (1)    Retain special counsel;        (2)    Incur other than normal operating expenses; or        (3)    Liquidate any assets except in the normal course of operation.
MD. Financial Institutions Code Ann. §  9-709 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part III - General Provisions|Section 9-709 - Insuring Agency as Receiver or Conservator

    The Federal Savings and Loan Insurance Corporation or the State of Maryland Deposit Insurance Fund Corporation has an absolute right to be appointed conservator or receiver of a savings and loan association insured by it.
MD. Financial Institutions Code Ann. §  9-710 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part III - General Provisions|Section 9-710 - Jurisdiction of Circuit Court

    (a)    (1)    Notwithstanding any other provision of law and to the maximum extent permitted under the federal and State constitutions, the circuit court administering a conservatorship or receivership under this title shall have exclusive and plenary jurisdiction over all claims, actions, and proceedings that are brought by any person and that are related to the assets, property, powers, rights, privileges, duties, and liabilities of:            (i)    The savings and loan association and its subsidiaries, affiliates, or holding company;            (ii)    The receivership or conservatorship estate; and            (iii)    The State of Maryland Deposit Insurance Fund Corporation in its capacity as receiver or conservator of the savings and loan association.        (2)    A court other than a court administering a conservatorship or receivership under this title may exercise jurisdiction over claims and actions if:            (i)    The court would have jurisdiction over the claims or actions but for this section; and            (ii)    The court administering the conservatorship or receivership approves:                1.    The initiation and prosecution, or the continued prosecution, of the claims or actions in the other court by the conservator or receiver; or                2.    The continued prosecution of claims or actions in the other court by any person other than the conservator or receiver.    (b)    Except as otherwise ordered by the court administering the conservatorship or receivership, any action or proceeding described in subsection (a)(1) of this section that is pending at the time the conservatorship or receivership is established under this title shall be transferred to the circuit court administering the conservatorship or receivership.
MD. Financial Institutions Code Ann. §  9-711 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 7 - Involuntary Actions -- Conservator; Receivership|Part III - General Provisions|Section 9-711 - Powers of Circuit Court in Administering Conservatorship or Receivership

    (a)    The circuit court administering a conservatorship or receivership under this title has full power to approve and allow or to reject and disallow claims against the conservatorship or receivership estate.    (b)    In a receivership, the court administering the receivership may estimate for purposes of allowance:        (1)    Any contingent, unliquidated, unmatured, or disputed claim, the fixing, liquidation, maturation, or settlement of the dispute of which would delay the administration of the receivership; or        (2)    Any right to payment arising from a right to an equitable remedy for breach of performance.    (c)    (1)    In a conservatorship or receivership, a court may reconsider for cause according to the equities of the case a claim that has been allowed or disallowed.        (2)    A reconsideration under this subsection:            (i)    Must be filed within 60 days from the date of the court’s initial determination; and            (ii)    Does not affect the validity of any payment or transfer from the receivership estate that is made to a holder of an allowed claim on account of the allowed claim that is not reconsidered.        (3)    This subsection does not alter or otherwise prejudice the right of the conservator or receiver to recover any excess payment or transfer made to a creditor.