Maryland Financial Institutions Section 9-212

      (a)      A savings and loan association that forfeits its charter may revive the charter in accordance with Title 3, Subtitle 5 of the Corporations and Associations Article only if:

            (1)      The Division Director approves the proposed articles of revival; and

            (2)      The charter was forfeited for:

                  (i)      Failure to file an annual report with the State Department of Assessments and Taxation; or

                  (ii)      Nonpayment of taxes.

      (b)      Not later than 30 days after a savings and loan association files articles of revival with the Division Director for examination, the Director shall pass an order approving or refusing the articles of revival.