Indiana § 28-1-23-6 Restrictions on incorporation and organization

Indiana Statutes

§ 28-1-23-6 — Restrictions on incorporation and organization

Indiana·Art. 1 DEPARTMENT OF FINANCIAL INSTITUTIONS·Ch. 23 Additional Provisions Pertaining to Financial

(a)Except as provided in subsection (b), a mutual savings bank or a mortgage guarantee company may not be incorporated or organized under Indiana law.

(b)A mutual savings bank may be organized with all rights and privileges under IC 28-6.1 only by a mutual bank conversion under IC 28-1-21.7. Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41. As amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8; P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.

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(a) Except as provided in subsection (b), a
mutual savings bank or a mortgage guarantee company may not be
incorporated or organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and
privileges under IC 28-6.1 only by a mutual bank conversion under IC 28-1-21.7.
Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41. As
amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8;
P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.

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