§ 28-6.2-1-3 — "Acting in concert" defined

Indiana § 28-6.2-1-3

• Jurisdiction: Indiana
• Art. 6.2: MUTUAL SAVINGS BANK HOLDING
• Ch. 1: Definitions

Text

(a) "Acting in concert" means:
(1) knowing participation in a joint activity or interdependent
conscious parallel action towards a common goal, whether or not
under an express agreement; or
(2) a combination of pooling of voting or other interests in the
securities of an issuer for a common purpose pursuant to any
contract, understanding, relationship, agreement, or other
arrangement, whether written or otherwise.
(b) A person or company that acts in concert with another person or
company is acting in concert with any person or company who is also
acting in concert with that other party, except that:
(1) an employee stock benefit plan is not acting in concert with its
trustee or a person who serves in a similar capacity solely for the
purpose of determining whether stock held by the trustee and
stock held by the plan will be aggregated; and
(2) no officer or director of a savings bank or savings bank
affiliate is acting in concert with any other officer or director of
the savings bank or affiliate by reason of the service of the officer
or director in those capacities.

Legislative History

As added by P.L.122-1994, SEC.101.