28-1-32-12. Winding Up Activities
Sec. 12. The department may authorize the credit union resulting from a conversion under this chapter to do the following: (1) Wind up any activities that the savings association was legally engaged in at the effective time of the conversion but that otherwise are not permitted to credit unions. (2) Retain for a transitional period […]
28-1-32-13. Branches
Sec. 13. A credit union resulting from a conversion under this chapter may retain all branches lawfully established. As added by P.L.1-2006, SEC.491.
28-1-32-14. Filing Articles of Conversion
Sec. 14. (a) A savings association converting into a credit union under this chapter shall file with the secretary of state the articles of conversion showing the approval of the director of the department. (b) The converting savings association shall record copies of the articles of conversion with the county recorder of the county where […]
28-1-32-15. Subject to Credit Union Statutes and Rules
Sec. 15. Upon the effective time of the conversion, the converted credit union is subject to all statutes and rules applicable to credit unions. As added by P.L.1-2006, SEC.491.
28-1-32-16. Rulemaking Authority
Sec. 16. The department may adopt rules under IC 4-22-2 or policies to implement this chapter. As added by P.L.1-2006, SEC.491.
28-1-32-6. Voting Party Rights
Sec. 6. For purposes of this chapter, voting parties have the voting rights as provided in the applicable corporate governance documents of the converting mutual savings association. As added by P.L.1-2006, SEC.491.
28-1-32-7. Authorization to Convert Into Credit Union
Sec. 7. With the approval of the department, a mutual savings association may convert into a credit union under this chapter. As added by P.L.1-2006, SEC.491.
28-1-32-8. Conversion Procedures
Sec. 8. (a) Except as provided in section 8.1 of this chapter for the conversion of a mutual savings association into a federally chartered credit union, the department shall prescribe procedures for the conversion of a mutual savings association into a credit union under this chapter. (b) The procedures prescribed by the department must include […]
28-1-32-8.1. Conversion to Federally Chartered Credit Union; Requirements; Date of Charter Conversion
Sec. 8.1. (a) A mutual savings association may convert into a federally chartered credit union by complying with the following requirements: (1) The mutual savings association must prepare a conversion plan that provides the terms and conditions for the conversion of the mutual savings association into a federal credit union. (2) The conversion plan must […]
28-1-32-9. Department Approval of Conversion
Sec. 9. (a) The department may approve or disapprove a conversion plan filed under section 8 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 the department’s approval of the conversion plan. […]