Indiana § 28-15-14-1 Merger, consolidation, or conversion; vote of shareholders and
members required; compliance with federal law

Indiana Statutes

§ 28-15-14-1 — Merger, consolidation, or conversion; vote of shareholders and members required; compliance with federal law

Indiana·Art. 15 SAVINGS ASSOCIATIONS·Ch. 14 Merger or Consolidation With Federal Savings

(a)A savings association may be:

(1)merged or consolidated with; or

(2)converted into; a federal savings association, under the charter of the federal savings association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of the votes cast at a legal meeting of the shareholders and members of the state chartered savings association called to consider the proposed merger, consolidation, or conversion.

(b)A merger, consolidation, or conversion under this section must be accomplished:

(1)in compliance with the laws of the United States relating to the merger, consolidation, or conversion; and

(2)upon terms and conditions prescribed or approved by the Office of the Comptroller of the Currenc

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A savings association may be:
(1) merged or consolidated with; or
(2) converted into;
a federal savings association, under the charter of the federal savings
association or under a new charter issued to the converted association
or the merged or consolidated association, upon a vote of fifty-one
percent (51%) or more of the votes cast at a legal meeting of the
shareholders and members of the state chartered savings association
called to consider the proposed merger, consolidation, or conversion.
(b) A merger, consolidation, or conversion under this section must
be accomplished:
(1) in compliance with the laws of the United States relating to
the merger, consolidation, or conversion; and
(2) upon terms and conditions prescribed or approved by the
Office of the Comptroller of the Currency or its successor.

Indiana § 28-15-14-1 (Merger, consolidation, or conversion; vote of shareholders and members required; compliance with federal law) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.