Effective: January 1, 2018
Latest Legislation: House Bill 49 – 132nd General Assembly
Subject to all necessary regulatory notices or approvals, a mutual holding company organized under this chapter may do all of the following:
(A) Acquire a bank organized in mutual or stock form by merger of such bank with the subsidiary stock state bank, interim subsidiary stock bank, or subsidiary stock holding company of the mutual holding company;
(B) Merge with or acquire another holding company provided that such holding company has, as one of its subsidiaries, a subsidiary banking corporation;
(C) Exercise any power of, or engage in any activity permitted for, a mutual state bank;
(D) Engage directly or indirectly only in such activities as are permissible activities for bank holding companies under applicable state and federal law or regulations;
(E) Invest in the stock of a bank;
(F) Exercise any rights, waive any rights, or take or waive any other action with respect to any securities of any subsidiary stock state bank or subsidiary stock holding company that are held by the mutual holding company.