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Any association organized or doing business under and by virtue of this subchapter may convert itself into a Federal Savings and Loan Association in accordance with the provisions of section 5 of the Home Owners' Loan Act of 1933, of the Congress of the United States, as now or hereafter amended, upon an affirmative vote of 51 percent or more of the outstanding shares of such association cast at an annual meeting or at a special meeting of such association called to consider such action.