28-1-33-10. Department Approval
Sec. 10. (a) The department may approve or disapprove the 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 mutual savings bank receives approval of the department if the […]
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 […]
28-1-33-11. Requirements for Approval
Sec. 11. The department may not approve the conversion plan unless the department finds, after appropriate investigation or examination, all of the following: (1) The resulting credit union will operate in a safe, sound, and prudent manner. (2) The proposed charter conversion will not result in a credit union that has inadequate capital, unsatisfactory management, […]
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.
28-1-33-12. Rights, Privileges, Obligations, and Liabilities
Sec. 12. At the effective time of a charter conversion under this chapter, the resulting credit union: (1) possesses all of the rights, privileges, immunities, and powers of a credit union; (2) unless otherwise provided in this chapter, is subject to all of the statutes, regulations, duties, restrictions, obligations, and liabilities of a credit union; […]
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 […]
28-1-33-13. Winding Up Activities
Sec. 13. The department may authorize the credit union resulting from a charter conversion under this chapter to do the following: (1) Wind up any activities that the mutual savings bank legally engaged in at the effective time of the charter conversion but that otherwise are not permitted to credit unions. (2) Retain for a […]
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.
28-1-33-14. Branches
Sec. 14. A credit union created by charter conversion may retain all branches lawfully established. As added by P.L.1-2006, SEC.492.
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.