28-6.1-15-3. Conversion Permitted
Sec. 3. A savings bank may convert into a state bank or trust company under this chapter. As added by P.L.42-1993, SEC.72.
28-6.1-15-4. Resolutions of Conversion
Sec. 4. (a) A conversion of a savings bank under this chapter must be proposed by the board of the savings bank by a resolution of conversion adopted by the affirmative vote of at least two-thirds (2/3) of the then qualified and acting trustees. (b) The resolution of conversion must include the following information: (1) […]
28-6.1-15-5. Terms and Conditions of Conversions; Rights of Depositors
Sec. 5. The terms and conditions of conversion and the rights of the depositors under the conversion are as follows: (1) A depositor may subscribe to the capital stock of the bank or trust company: (A) in an amount equal to part or all of the depositor’s pro rata interest in the surplus of the […]