§ 28-6.1-18-3 — Resolutions of dissolution

Indiana § 28-6.1-18-3

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 18: Liquidation and Dissolution of a Savings Bank

Text

(a) To dissolve a savings bank, the board
must adopt a resolution of dissolution at a regular meeting or a special
meeting of the board called for that purpose.
(b) A resolution of dissolution must receive the affirmative vote of
at least two-thirds (2/3) of the qualified and acting trustees. The
resolution must state that the board of the savings bank considers it is
in the best interests of the depositors and other creditors of the savings
bank that the savings bank liquidate its affairs and dissolve.
(c) If a resolution is adopted under subsection (b), a statement shall
be prepared and verified by the affidavit of the president and secretary
of the savings bank setting forth the following:
(1) A copy of the following:
(A) The notice of the meeting of the board at which the
resolution was adopted.
(B) The resolution.
(2) The number of the then qualified and acting trustees,
including the name and address of each of the trustees.
(3) The number of trustees voting for and the number voting
against the resolution.
(d) The statement must be filed with the department.

Legislative History

As added by P.L.42-1993, SEC.72.