Indiana § 28-6.1-18-9 Dismissal of liquidation and dissolution actions

Indiana Statutes

§ 28-6.1-18-9 — Dismissal of liquidation and dissolution actions

Indiana § 28-6.1-18-9

Art. 6.1SAVINGS BANKS

Ch. 18Liquidation and Dissolution of a Savings Bank

This text of Indiana § 28-6.1-18-9 (Dismissal of liquidation and dissolution actions) 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 § 28-6.1-18-9 (2026).

Text

(a)If after hearing the matter, the court determines that it will not be in the best interest of the depositors and other creditors of the savings bank that the savings bank liquidate its affairs and dissolve, the court shall enter an order:

(1)directing the department to return the business and property of the savings bank to the board; and

(2)dismissing the action.

(b)If an order is issued under subsection (a):

(1)the savings bank shall continue to operate as though the proceedings had never begun; and

(2)all costs of the proceedings to the date of the entry of the order shall be paid by the savings bank.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If after hearing the matter, the court
determines that it will not be in the best interest of the depositors and
other creditors of the savings bank that the savings bank liquidate its
affairs and dissolve, the court shall enter an order:
(1) directing the department to return the business and property
of the savings bank to the board; and
(2) dismissing the action.
(b) If an order is issued under subsection (a):
(1) the savings bank shall continue to operate as though the
proceedings had never begun; and
(2) all costs of the proceedings to the date of the entry of the order
shall be paid by the savings bank.