Indiana § 28-1-21.9-16 Application of banking law

Indiana Statutes

§ 28-1-21.9-16 — Application of banking law

Indiana § 28-1-21.9-16

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 21.9Charter Conversion of a Mutual Savings Bank to a

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Bluebook

Ind. Code § 28-1-21.9-16 (2026).

Text

(a)Except as provided in subsection (c), a stock savings bank formed under this chapter is governed by IC 28-6.1.

(b)For purposes of a stock savings bank formed under this chapter, a reference in IC 28-6.1 to formation and operation by a board means:

(1)formation by conversion under this chapter; and

(2)operation by a board of directors elected by shareholders under IC 28-13.

(c)IC 28-6.1-3 does not apply to a stock savings bank formed by conversion under this chapter.

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(a) Except as provided in subsection (c),
a stock savings bank formed under this chapter is governed by IC 28-6.1.
(b) For purposes of a stock savings bank formed under this chapter,
a reference in IC 28-6.1 to formation and operation by a board means:
(1) formation by conversion under this chapter; and
(2) operation by a board of directors elected by shareholders
under IC 28-13.
(c) IC 28-6.1-3 does not apply to a stock savings bank formed by
conversion under this chapter.