§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.