Maryland Financial Institutions Section 3-802

      (a)      Any commercial bank may convert into a national banking association as provided by federal law.

      (b)      When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert.

      (c)      When the Comptroller of the Currency issues a certificate of authority to do business as a national banking association, the charter of the commercial bank terminates and the new national banking association shall:

            (1)      Take all property of the commercial bank, subject to all of its liabilities that exist at the time of conversion;

            (2)      Notify the Commissioner of the conversion and the taking of property; and

            (3)      File with the Commissioner a copy of the certificate of authority issued by the Comptroller of the Currency.

      (d)      The Commissioner shall file a copy of the certificate of authority with the State Department of Assessments and Taxation.