Indiana § 28-6.1-14-5 Rights and obligations upon conversion

Indiana Statutes

§ 28-6.1-14-5 — Rights and obligations upon conversion

Indiana § 28-6.1-14-5

Art. 6.1SAVINGS BANKS

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

This text of Indiana § 28-6.1-14-5 (Rights and obligations upon conversion) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-6.1-14-5 (2026).

Text

Upon conversion, the new state bank or new savings association:

(1)has all the rights, privileges, immunities, and powers of a bank organized under IC 28-1 or a savings association organized under IC 28-4 (before its repeal) or under IC 28-15;

(2)is subject to all the duties, restrictions, penalties, and liabilities of a bank organized under IC 28-1 or a savings association organized under IC 28-4 (before its repeal) or under IC 28-15; and

(3)is governed by IC 28-13.

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Upon conversion, the new state bank or new
savings association:
(1) has all the rights, privileges, immunities, and powers of a bank
organized under IC 28-1 or a savings association organized under
IC 28-4 (before its repeal) or under IC 28-15;
(2) is subject to all the duties, restrictions, penalties, and liabilities
of a bank organized under IC 28-1 or a savings association
organized under IC 28-4 (before its repeal) or under IC 28-15; and
(3) is governed by IC 28-13.