28-6.1-3-1. 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.

28-6.1-3-10. Quorum

Sec. 10. (a) A quorum of the board of a savings bank consists of at least a majority of the trustees. (b) Except as provided in subsection (c), the president or a vice president of the board must be present for a quorum to exist. Notwithstanding subsection (c), if the number of trustees is fifteen […]

28-6.1-3-11. Reducing Number of Trustees

Sec. 11. (a) The board of a savings bank may, by resolution incorporated in the bylaws of the savings bank, reduce the number of trustees to a number not less than the minimum number required by section 3 of this chapter. (b) If the board adopts a resolution under subsection (a), the number of trustees […]

28-6.1-3-12. Increasing Number of Trustees

Sec. 12. (a) Subject to section 3 of this chapter, the board of a savings bank may, by resolution incorporated in the bylaws of the savings bank, increase the number of trustees. (b) The board may adopt a resolution under subsection (a) at any time. As added by P.L.42-1993, SEC.72.

28-6.1-3-13. Meetings

Sec. 13. (a) The board shall hold regular meetings at least every three (3) months. (b) The board may provide in the bylaws of the savings bank for: (1) regular meetings more frequent than required by subsection (a); and (2) the calling of special meetings. (c) The board shall keep minutes of the proceedings of […]

28-6.1-3-14. Suspension of Trustees

Sec. 14. (a) The auditor of state may at any time, by an order under the seal of the auditor of state, for due cause stated in the order, suspend a trustee from the board. (b) Upon the application of two-thirds (2/3) of the trustees of a savings bank setting forth good reasons for the […]

28-6.1-3-2. “Court”

Sec. 2. As used in this chapter, “court” refers to the circuit court, superior court, or probate court of the county in which the savings bank is located. As added by P.L.42-1993, SEC.72. Amended by P.L.84-2016, SEC.124.

28-6.1-3-3. Number of Trustees

Sec. 3. The board of trustees of the savings bank must have at least seven (7) but not more than twenty-one (21) trustees. As added by P.L.42-1993, SEC.72.

28-6.1-3-4. Qualifications of Trustees

Sec. 4. An individual must have the following qualifications to be a trustee: (1) The individual must be a citizen of Indiana for at least five (5) years before becoming a trustee. (2) The individual must have an equity in real estate: (A) located in the county in which the savings bank is located; and […]

28-6.1-3-5. Vacancies; Elections; Qualifications of Successors

Sec. 5. (a) A vacancy on the board of the savings bank is created if any of the following applies to a trustee: (1) The trustee dies. (2) The trustee resigns. (3) The trustee is unable to discharge duties because of incapacity. (4) The trustee moves from the county where the saving bank is located. […]

28-6.1-3-6. Vacancies; Judicial Appointments

Sec. 6. (a) If the board fails to fill a vacancy under section 5 of this chapter for three (3) months after the vacancy is created, the court shall, subject to subsection (b), appoint an individual qualified under this chapter to fill the vacancy. (b) The court shall fill the vacancy upon the written request […]

28-6.1-3-7. Vacancies; Successors’ Certificates of Qualification and Fitness

Sec. 7. (a) An individual elected or appointed to fill a vacancy shall obtain from the court a certificate of qualification and fitness before the individual may enter upon duties as a trustee. (b) A certificate issued under subsection (a) shall be: (1) recorded in the journal of the proceedings of the savings bank; and […]

28-6.1-3-8. Presidents; Officers and Agents

Sec. 8. (a) The trustees of the savings bank shall elect from among the trustees a president. (b) The trustees may choose from among the trustees, or otherwise, other officers or agents the trustees consider necessary to conduct the business of the savings bank. (c) The officers and agents hold their offices at the pleasure […]

28-6.1-3-9. Bylaws, Rules, and Regulations

Sec. 9. (a) Subject to Indiana law, the board of a savings bank may from time to time make bylaws, rules, and regulations as the board considers proper for the following purposes: (1) Election of officers. (2) Prescribing the powers and duties of the officers. (3) The manner of discharging the powers and duties of […]