28-3-2-6. Effect of Conversion, Merger, or Consolidation on Property, Rights, Privileges, Powers, Duties, and Functions of State Bank
Sec. 6. At the time when the merger or consolidation of a bank or trust company with or the conversion of a bank or trust company into a national banking association, or under such charter as may be issued thereafter, becomes effective, all of the property of such bank or trust company, including all of […]
28-3-2-7. Effect of Conversion, Merger, or Consolidation on Fiduciary Relations of State Bank
Sec. 7. If any bank or trust company is acting as the administrator, coadministrator, executor, coexecutor, trustee or cotrustee of or in respect to any estate or trust or guardian of any person or estate which is being administered under the laws of this state, or has been named or designated as such in any […]
28-3-2-8. Effect of Conversion, Merger, or Consolidation on Letters of Administration, Letters Testamentary, or Trusteeship
Sec. 8. Nothing done in connection with the merger or consolidation of any bank or trust company with, or the conversion of any bank or trust company into a national banking association shall be deemed to be or to effect a renunciation or revocation of any letters of administration or letters testamentary, pertaining to such […]
28-3-2-9. Definitions
Sec. 9. As used in this chapter: (1) the term “bank or trust company” means any bank or trust company organized under the provisions of any statute of this state; and (2) the term “national banking association” means any national bank organized under the laws of the United States. Formerly: Acts 1953, c.69, s.9. As […]
28-3-1-1. Petition; Vote of Shareholders; Order and Bond
Sec. 1. Whenever the directors of any bank organized under the laws of this state, shall desire to liquidate any such bank, they may file a petition with the department of financial institutions for authority so to do. After the filing of any such petition, the said department shall authorize the directors to call a […]
28-3-1-2. Sequence of Payments; Dissenting Stockholders
Sec. 2. Upon the filing and approval of such bond, the officers of any such bank, shall without delay, proceed with the liquidation of its business by first paying all of its depositors in full, and when all of such depositors have been paid in full, the holders of the capital stock of such bank […]
28-3-1-3. Surrender of Certificate of Incorporation
Sec. 3. When the affairs of said bank shall have been completely liquidated, its officers shall at once surrender its certificate of incorporation to the secretary of state who shall cancel same, and said certificate shall thereafter be void and of no legal effect. Formerly: Acts 1943, c.39, s.3.
28-3-1-4. Alternative Method
Sec. 4. This chapter shall not be construed to repeal any other law providing for the liquidation of banks, but it shall be construed as providing an alternative method for the liquidation of banks. Formerly: Acts 1943, c.39, s.4. As amended by P.L.263-1985, SEC.128.