Sec. 1. As used in this chapter, “mutual savings association” means any mutual savings association organized or reorganized under this title, and any savings association organized under any Indiana statute before February 24, 1933, that is in a mutual form. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.46.
Sec. 10. The voting parties of a mutual savings association have the voting rights set forth in IC 28-13-6-2 with respect to a charter conversion of the mutual savings association under this chapter. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.53.
Sec. 11. (a) The department may approve or disapprove the conversion plan filed under section 9 of this chapter. (b) The department is not required to hold a hearing on the conversion plan. (c) Solicitation of the votes of voting parties may occur before the savings association receives approval of the department if the director […]
Sec. 12. The department may not approve the conversion plan unless the department finds, after appropriate investigation or examination, all of the following: (1) That the resulting stock savings association will operate in a safe, sound, and prudent manner. (2) That the proposed charter conversion will not result in a stock savings association that has […]
Sec. 13. At the effective time of the charter conversion, the resulting stock savings association: (1) possesses all of the rights, privileges, immunities, and powers of a stock savings association; (2) unless otherwise provided in this chapter, is subject to all of the statutes, regulations, duties, restrictions, obligations, and liabilities of a stock savings association; […]
Sec. 14. The department may authorize the resulting stock savings association to do the following: (1) Wind up any activities legally engaged in by the savings association at the effective time of the charter conversion not permitted to stock savings associations. (2) Retain for a transitional period any assets legally held by the savings association […]
Sec. 15. A stock savings association created by charter conversion may retain all branches lawfully established. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.58.
Sec. 16. (a) To effect the charter conversion, the converting savings association must file with the secretary of state articles of charter conversion showing the approval of the director of the department. (b) The converting savings association shall record copies of the articles of charter conversion with the county recorder of the county where the […]
Sec. 17. The department may adopt rules under IC 4-22-2 or policies to implement this chapter. As added by P.L.176-1996, SEC.14.
Sec. 2. As used in this chapter, “charter conversion” means the conversion of a mutual savings association to a stock savings association, including any of the following: (1) A conversion in connection with the formation of a holding company. (2) An acquisition involving an existing corporation. (3) A merger with an existing financial institution. As […]
Sec. 3. As used in this chapter, “conversion plan” refers to the plan of charter conversion of a mutual savings association to a stock savings association required by this chapter. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.48.
Sec. 4. As used in this chapter, “effective time of the charter conversion” means the date: (1) that the articles of conversion are filed with the secretary of state under section 16 of this chapter; or (2) designated in the articles of conversion. As added by P.L.176-1996, SEC.14.
As added by P.L.176-1996, SEC.14. Repealed by P.L.27-2012, SEC.54.
Sec. 5.1. As used in this chapter, “primary federal regulator” means the federal agency primarily responsible for the regulation of: (1) savings associations; or (2) savings association holding companies; organized under the laws of any state or the United States. As added by P.L.27-2012, SEC.55.
Sec. 6. As used in this chapter, “stock savings association” means a savings association that is: (1) owned by holders of capital stock; and (2) formed by conversion under this chapter. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.49.
Sec. 7. As used in this chapter, “voting parties” means the: (1) depositors; and (2) borrowers; of a mutual savings association as provided in IC 28-13-6-2(f). As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.50; P.L.215-1999, SEC.5.
Sec. 8. Notwithstanding any provision of this title, a mutual savings association may convert its charter under this chapter with the approval of the department. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.51.
Sec. 9. (a) The department shall prescribe procedures for charter conversions under this chapter. (b) The procedures prescribed by the department must include the following: (1) The savings association must prepare and submit a conversion plan to the department that provides the terms and conditions of the charter conversion as required by the department. The […]
