28-6.1-19-3. Disposition of Property and Assets
Sec. 3. A savings bank may, at any time if otherwise lawful, dispose of all or substantially all of its property and assets, including good will, upon terms and conditions and for consideration the savings bank considers beneficial. As added by P.L.42-1993, SEC.72.
28-6.1-19-4. Resolutions of Disposition
Sec. 4. (a) A disposition under this chapter must be approved by the board of the savings bank by the adoption of a resolution by the affirmative vote of at least two-thirds (2/3) of the then qualified and acting trustees. (b) The resolution may be adopted at a regular meeting or a special meeting of […]
28-6.1-19-5. Departmental Approval
Sec. 5. (a) Upon receiving a notice under section 4 of this chapter, the department shall conduct investigations it considers necessary. (b) If the department is satisfied that the proposed disposition is fair and will be in the best interests of the depositors and other creditors of the savings bank, the department shall: (1) indicate […]
28-6.1-19-6. Judicial Approval
Sec. 6. (a) If the department approves the disposition under section 5 of this chapter, the two (2) copies of the resolution returned to the savings bank shall be submitted to the circuit court with jurisdiction in the county in which the savings bank is located. (b) If, upon good cause shown by affidavit, the […]
28-6.1-19-7. Copies of Dissolution Resolutions
Sec. 7. If the court approves the disposition under section 6 of this chapter, one (1) copy of the resolution shall be filed in the office of the circuit court clerk and the other copy shall be retained by the savings bank. As added by P.L.42-1993, SEC.72.
28-6.1-19-8. Court Approval Prerequisite to Dissolution
Sec. 8. The disposition may not take place until the court approves it. As added by P.L.42-1993, SEC.72.
28-6.1-19-9. Notice of Dispositions
Sec. 9. If the court approves the disposition, the savings bank shall give notice of the disposition not more than five (5) days after the approval as follows: (1) By publishing notice of the disposition one (1) time in a newspaper of general circulation printed in the English language and published in the county in […]
28-6.1-19-10. Statements of Objections
Sec. 10. (a) A person interested in the disposition (including a depositor or a creditor of the savings bank) aggrieved by the proposed disposition may file in the court a verified statement of objections to the proposed disposition. (b) The statement must be filed not more than fifteen (15) days after the approval of the […]
28-6.1-15-13. Powers and Duties of Department
Sec. 13. This chapter does not limit the powers or duties of the department under IC 28-1. As added by P.L.42-1993, SEC.72.
28-6.1-18-10. Approval of Liquidation and Dissolution Proceedings
Sec. 10. If after hearing the matter, the court determines that it will be in the best interests of the depositors and other creditors of the savings bank to liquidate its affairs and dissolve, the liquidation may proceed. As added by P.L.42-1993, SEC.72.