Indiana § 28-6.1-14-3 Conversion procedure

Indiana Statutes

§ 28-6.1-14-3 — Conversion procedure

Indiana § 28-6.1-14-3

Art. 6.1SAVINGS BANKS

Ch. 14Conversion of a Stock Savings Bank to a State Bank or

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Bluebook

Ind. Code § 28-6.1-14-3 (2026).

Text

The department shall prescribe the procedure for conversion under this chapter. The procedure must include the following:

(1)The board of the savings bank must propose a resolution of conversion.

(2)The resolution of conversion must be adopted by the affirmative vote of at least a majority of the shareholders of the savings bank.

(3)The savings bank must provide all relevant information relating to the conversion requested by the department.

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The department shall prescribe the procedure
for conversion under this chapter. The procedure must include the
following:
(1) The board of the savings bank must propose a resolution of
conversion.
(2) The resolution of conversion must be adopted by the
affirmative vote of at least a majority of the shareholders of the
savings bank.
(3) The savings bank must provide all relevant information
relating to the conversion requested by the department.