§ 28-6.1-18-7 — Taking charge of business and assets by department; notice of departmental actions

Indiana § 28-6.1-18-7

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

Text

The department shall do the following:
(1) Immediately take charge of the business and assets of the
savings bank.
(2) Give notice of:
(A) the department's orders directing the liquidation and
dissolution of the savings bank; and
(B) the appointment of the department's special representative;
by posting copies of the orders in a conspicuous place in the lobby of
the savings bank and by one (1) publication of the notice in a
newspaper of general circulation, printed in the English language and
published in the county where the savings bank is located. The
department shall also file a copy of its order appointing a special
representative in the court in which the order was filed under section
5 of this chapter.

Legislative History

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