§ 23-37-701. Conversion of state association into federal association

(a) Any association subject to this chapter may convert itself into a federal savings and loan association in accordance with the provisions of Section 5 of the Home Owners’ Loan Act of 1933, upon a majority vote of the members or stockholders at an annual meeting or any special meeting called to consider that action. […]

§ 23-37-702. Conversion of federal association into state association

(a) Upon the approval of the Federal Home Loan Bank Board [abolished], or other applicable federal authority, any federal association may convert itself into an association under this chapter upon a majority vote of the members of the federal association cast at an annual meeting or any special meeting called to consider that action. (b) […]

§ 23-37-703. Conversion of mutual association into stock association

(a) With the approval of the Savings and Loan Association Board [abolished], any mutual association may convert into a stock association under this chapter upon a majority vote of the members of the mutual association at an annual or any special meeting called to consider that action. (b) Prior to the meeting of the members […]

§ 23-37-704. Contemporaneous conversion from federal mutual to state stock association

(a) A federal association may file with the Savings and Loan Association Board [abolished] a joint petition for authority to convert from a federal association to a state-chartered association and contemporaneously to convert from a mutual association to a stock association. (b) Pursuant to the provisions of § 23-37-703, the board may hold a hearing […]

§ 23-37-705. Reorganization, merger, consolidation, or sale of assets

(a) Pursuant to a plan adopted by the board of directors and approved by the Savings and Loan Association Board [abolished] as being equitable to the members or stockholders of the association and as not impairing the usefulness and success of other properly conducted associations in the vicinity, an association shall have power to reorganize, […]

§ 23-37-706. Federal Savings and Loan Insurance Corporation [abolished] as receiver

(a) The Federal Savings and Loan Insurance Corporation [abolished] is authorized and empowered to act, without bond, as receiver or liquidator of any building and loan or savings and loan association, hereinafter referred to as an “insured association”, which has the insurance protection provided by Title IV of the National Housing Act and which shall […]