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.
28-1-32-1. “Conversion Plan”
Sec. 1. As used in this chapter, “conversion plan” refers to a plan for the conversion of a mutual savings association into a credit union that is prepared under this chapter. As added by P.L.1-2006, SEC.491.
28-1-32-2. “Credit Union”
Sec. 2. As used in this chapter, “credit union” has the meaning set forth in IC 28-7-1-0.5(3). As added by P.L.1-2006, SEC.491.
28-1-32-3. “Effective Time of the Conversion”
Sec. 3. As used in this chapter, “effective time of the conversion” means: (1) the date on which articles of conversion are filed with the secretary of state; or (2) the date designated in the articles of conversion as the effective time of the conversion. As added by P.L.1-2006, SEC.491.
28-1-32-4. “Mutual Savings Association”
Sec. 4. As used in this chapter, “mutual savings association” means a savings association (as defined in 12 U.S.C. 1813(b)) that: (1) maintains its principal office in Indiana; and (2) has a mutual form of ownership. As added by P.L.1-2006, SEC.491.
28-1-32-5. “Voting Parties”
Sec. 5. As used in this chapter, “voting parties” means the depositors or members of a mutual savings association. As added by P.L.1-2006, SEC.491.