§ 28-6.1-1-2 — Applicability of corporate governance laws; references

Indiana § 28-6.1-1-2

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 1: General Provisions

Text

(a) This section applies only to a savings bank
(whether in stock or mutual form of ownership) that was:
(1) formed as a result of conversion under IC 28-1-21.7, IC 28-1-21.8, or IC 28-1-21.9 after December 31, 1992;
(2) incorporated under IC 28-12; or
(3) formed as a result of conversion under IC 28-1-30.
(b) A savings bank described in subsection (a) is governed by IC 28-13 in addition to this article.
(c) A reference in this article to formation and operation by a board
means formation by conversion and operation by an elected board of
directors.
(d) As to a mutual savings bank, a reference in IC 28-13-5, IC 28-13-6, IC 28-1-7, IC 28-1-7.1, IC 28-1-8, or IC 28-1-9 to
shareholders and shareholders' meetings means members and members'
meetings.
(e) Notwithstanding subsection (d), in a proposed disposition
described in IC 28-1-8-3(b), the rights and remedies for dissenting
shareholders set forth in IC 28-1-7-21 do not apply.

Legislative History

As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994, SEC.94; P.L.192-1997, SEC.13; P.L.62-1999, SEC.3; P.L.27-2012, SEC.81; P.L.13-2013, SEC.73.