28-6.1-18-1. Application of Chapter
Sec. 1. This chapter applies only to a savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993. 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.
28-6.1-18-11. Finality of Judicial Decisions
Sec. 11. The decision of the court under section 9 or 10 of this chapter is final. As added by P.L.42-1993, SEC.72.
28-6.1-18-12. Powers and Restrictions of Department
Sec. 12. (a) During the ten (10) day period after the publication required by section 7 of this chapter, the department may make orders regarding the deposits of the savings bank that the department considers in the best interests of all the depositors and creditors of the savings bank. (b) Except as provided in this […]
28-6.1-18-13. Completion of Liquidation
Sec. 13. (a) When the costs and expenses of the liquidation have been fully paid and all the remaining debts and liabilities of the savings bank, including deposits and accrued interest or dividends, if any, have been paid in full, the remaining assets, if any, shall be paid to or distributed among the persons the […]
28-6.1-18-14. Statements of Dissolution
Sec. 14. (a) Upon completion of the liquidation, the department shall prepare and file a statement of dissolution in the office of the recorder of the county in which the savings bank was located. (b) The statement of dissolution shall contain the following: (1) The name of the savings bank. (2) The location of the […]
28-6.1-18-15. Termination of Savings Bank’s Existence
Sec. 15. When the statement required by section 14 of this chapter is recorded, the savings bank ceases to exist. As added by P.L.42-1993, SEC.72.
28-6.1-18-2. Dissolutions; Determinations of Boards
Sec. 2. A savings bank may dissolve itself under this chapter if the board of the savings bank determines it is in the best interest of the depositors and other creditors of the savings bank to dissolve the savings bank. As added by P.L.42-1993, SEC.72.
28-6.1-18-3. Resolutions of Dissolution
Sec. 3. (a) To dissolve a savings bank, the board must adopt a resolution of dissolution at a regular meeting or a special meeting of the board called for that purpose. (b) A resolution of dissolution must receive the affirmative vote of at least two-thirds (2/3) of the qualified and acting trustees. The resolution must […]
28-6.1-18-4. Liquidation Orders; Employment of Necessary Personnel
Sec. 4. (a) If the department receives a statement under section 3 of this chapter, the department shall examine the business and affairs of the savings bank and may make additional investigation of the future prospects of the savings bank the department considers necessary. (b) If the department finds from the examination that: (1) the […]
28-6.1-18-5. Civil Actions; Filing
Sec. 5. (a) Not later than five (5) days after entry of the order directing the liquidation of the savings bank, the department shall file a copy of the order with the circuit court clerk of the county in which the savings bank is located. (b) Upon the filing of an order under subsection (a), […]
28-6.1-18-6. Jurisdiction of Courts
Sec. 6. After the filing of the action under section 5 of this chapter, the court has jurisdiction to hear and determine all issues and matters relating to the liquidation of the savings bank. As added by P.L.42-1993, SEC.72.
28-6.1-18-7. Taking Charge of Business and Assets by Department; Notice of Departmental Actions
Sec. 7. The department shall do the following: (1) Immediately take charge of the business and assets of the savings bank. (2) Give notice of: (A) the department’s orders directing the liquidation and dissolution of the savings bank; and (B) the appointment of the department’s special representative; by posting copies of the orders in a […]
28-6.1-18-8. Petitions Opposing Liquidation and Dissolution
Sec. 8. (a) A depositor or other creditor of the savings bank who is aggrieved by the proceedings to liquidate and dissolve the savings bank may oppose the liquidation and dissolution by a petition filed in the court in which the liquidation action was filed under section 5 of this chapter. The petition must state […]
28-6.1-18-9. Dismissal of Liquidation and Dissolution Actions
Sec. 9. (a) If after hearing the matter, the court determines that it will not be in the best interest of the depositors and other creditors of the savings bank that the savings bank liquidate its affairs and dissolve, the court shall enter an order: (1) directing the department to return the business and property […]