§ 28-1-7.1-4 — Voluntary supervisory conversion; types of transactions

Indiana § 28-1-7.1-4

• Jurisdiction: Indiana
• Art. 1: DEPARTMENT OF FINANCIAL INSTITUTIONS
• Ch. 7.1: Voluntary Supervisory Conversion

Text

A voluntary supervisory conversion of a
depository financial institution may include one (1) or more of the
following transactions:
(1) A merger of the depository financial institution into an interim
depository financial institution with stock ownership.
(2) Following a conversion of the depository financial institution,
a sale of shares of the converted depository financial institution
directly to an acquirer, which may be a person, company,
depository institution, or depository institution holding company.
(3) A merger or consolidation with an existing or newly created
depository financial institution. Except as provided in this
chapter, a merger or consolidation under this subdivision must be
authorized by, and is subject to, any other applicable laws and
regulations.

Legislative History

As added by P.L.89-2011, SEC.33.