28-15-11-16. Regulation of Rollover Mortgage Loans
Sec. 16. Rollover mortgage loans are subject to the following: (1) At each scheduled adjustment time, if the loan is not in default, the lender shall make rate adjustments available for the amount of the outstanding loan. (2) In adjusting the loan, administrative expenses may not be charged to the borrower. (3) Adjustments must be […]
28-15-11-17. Alternative Mortgage Loans; Required Disclosures
Sec. 17. (a) Any statement, disclosure, or notification required by this chapter with respect to an alternative mortgage loan may be made in the form prescribed by the primary federal regulator or its successor for a similar alternative mortgage loan made by a federal savings association. (b) In addition to the disclosures required by this […]
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; […]