Indiana § 28-1-21.4-13 Powers and duties at effective time of conversion

Indiana Statutes

§ 28-1-21.4-13 — Powers and duties at effective time of conversion

Indiana § 28-1-21.4-13

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 21.4Charter Conversion of a Building and Loan

This text of Indiana § 28-1-21.4-13 (Powers and duties at effective time of conversion) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-1-21.4-13 (2026).

Text

At the effective time of the charter conversion, the resulting stock savings association:

(1)possesses all of the rights, privileges, immunities, and powers of a stock savings association;

(2)unless otherwise provided in this chapter, is subject to all of the statutes, regulations, duties, restrictions, obligations, and liabilities of a stock savings association;

(3)succeeds by operation of law to all rights and property of the converting savings association; and

(4)is subject to all debts, obligations, and liabilities of the converting savings association as if the stock savings association had incurred the debts and liabilities.

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At the effective time of the charter
conversion, the resulting stock savings association:
(1) possesses all of the rights, privileges, immunities, and powers
of a stock savings association;
(2) unless otherwise provided in this chapter, is subject to all of
the statutes, regulations, duties, restrictions, obligations, and
liabilities of a stock savings association;
(3) succeeds by operation of law to all rights and property of the
converting savings association; and
(4) is subject to all debts, obligations, and liabilities of the
converting savings association as if the stock savings association
had incurred the debts and liabilities.