28-15-11-18. Inapplicability of Indiana Laws; Interest Added to Principal; Lien Provided by Mortgage
Sec. 18. (a) Subsections (b) and (c) apply to alternative mortgage loans and to similar loans authorized under federal law or regulations for a federal savings association. (b) Any Indiana laws prohibiting: (1) the compounding of interest; (2) capitalizing interest because contracted loan repayments create negative amortization; or (3) paying interest on interest; do not […]
28-15-12-1. Mutual Savings Association; Member Entitled to One Vote
Sec. 1. (a) In a mutual savings association, each member is entitled at every members’ meeting to cast one (1) vote for each: (1) one hundred dollars ($100); or (2) fraction of one hundred dollars ($100); of the total amount paid in on all share or deposit accounts standing in the member’s name on the […]
28-15-13-1. References to Shareholders and Shareholders’ Meetings
Sec. 1. A reference in IC 28-13-5, IC 28-13-6, IC 28-1-7, IC 28-1-7.1, IC 28-1-8, or IC 28-1-9 to shareholders and shareholders’ meetings means, as to a mutual savings association, members and members’ meetings. As added by P.L.193-1997, SEC.2. Amended by P.L.27-2012, SEC.117.
28-15-14-1. Merger, Consolidation, or Conversion; Vote of Shareholders and Members Required; Compliance With Federal Law
Sec. 1. (a) A savings association may be: (1) merged or consolidated with; or (2) converted into; a federal savings association, under the charter of the federal savings association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of […]
28-15-14-2. Filing Requirements
Sec. 2. (a) If a savings association: (1) merges with; (2) consolidates with; or (3) is converted into; a federal savings association, the savings association shall file with the secretary of state three (3) copies of a certificate executed by a duly constituted federal authority showing the merger, consolidation, or conversion. (b) Upon the payment […]
28-15-14-3. Effect of Merger, Consolidation, or Conversion on Federal Savings Association
Sec. 3. (a) Upon the effective date of a merger, consolidation, or conversion under sections 1 and 2 of this chapter, all of the assets and property of the state chartered savings association of every kind and character, including: (1) real, personal, and mixed property; (2) tangible and intangible property; and (3) choses in action, […]
28-15-14-4. Conversion of Federal Savings Association to State Chartered Savings Association; Resolution; Articles of Incorporation; Findings Required for Approval by Department; Certificate of Incorporation
Sec. 4. (a) Subject to regulations prescribed by the Office of the Comptroller of the Currency or its successor, a federal savings association located in Indiana or in any other state, by resolution approved by its board of directors and adopted by a vote of fifty-one percent (51%) or more of the votes cast at […]
28-15-14-5. Conversion of Federal Savings Association; Effect on State Chartered Savings Association
Sec. 5. (a) Upon the effective date of the conversion of a federal savings association into a state chartered savings association under section 4 of this chapter, all of the assets and property of the federal savings association of every kind and character, including: (1) real, personal, and mixed property; (2) tangible and intangible property; […]
28-15-14-6. Organization of New Savings Association; Bylaws
Sec. 6. After the conversion of a federal savings association into a state chartered savings association under section 4 of this chapter, the organization of the savings association shall be completed in the manner provided by IC 28-12, except that bylaws for the savings association: (1) may be adopted by the members of the federal […]
28-15-11-11. “Standard Mortgage Loan”
Sec. 11. As used in this chapter, “standard mortgage loan” means a loan under which the principal and interest are paid in equal monthly installments for a period of not more than forty (40) years. As added by P.L.193-1997, SEC.2.