Indiana § 28-15-14-6 Organization of new savings association; bylaws

Indiana Statutes

§ 28-15-14-6 — Organization of new savings association; bylaws

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

After the conversion of a federal savings association into a state chartered savings association under section 4 of this chapter, the organization of the savings association shall be completed in the manner provided by IC 28-12, except that bylaws for the savings association:

(1)may be adopted by the members of the federal association when the members adopt the resolution authorizing the conversion; and

(2)may become effective upon the issuance of the certificate of incorporation under section 4(g) of this chapter.

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After the conversion of a federal savings
association into a state chartered savings association under section 4 of
this chapter, the organization of the savings association shall be
completed in the manner provided by IC 28-12, except that bylaws for
the savings association:
(1) may be adopted by the members of the federal association
when the members adopt the resolution authorizing the
conversion; and
(2) may become effective upon the issuance of the certificate of
incorporation under section 4(g) of this chapter.

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