(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.
Maryland Legal Code