Indiana § 28-6.1-16-2 Department approval of conversion to savings association

Indiana Statutes

§ 28-6.1-16-2 — Department approval of conversion to savings association

Indiana § 28-6.1-16-2

Art. 6.1SAVINGS BANKS

Ch. 16Conversion of a Savings Bank to a Savings and Loan

This text of Indiana § 28-6.1-16-2 (Department approval of conversion to savings association) 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 § 28-6.1-16-2 (2026).

Text

(a)With the approval of the department, a savings bank may convert into a savings association.

(b)Nothing in this title prohibits a savings bank organized under the laws of Indiana from converting to a savings association or a savings bank organized or reorganized under the laws of the United States. Conversion to a savings association or a savings bank organized under the laws of the United States does not require the approval of the department.

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(a) With the approval of the department, a
savings bank may convert into a savings association.
(b) Nothing in this title prohibits a savings bank organized under the
laws of Indiana from converting to a savings association or a savings
bank organized or reorganized under the laws of the United States.
Conversion to a savings association or a savings bank organized under
the laws of the United States does not require the approval of the
department.