Indiana § 28-6.2-1-7 "Control" defined

Indiana Statutes

§ 28-6.2-1-7 — "Control" defined

Indiana § 28-6.2-1-7

Art. 6.2MUTUAL SAVINGS BANK HOLDING

Ch. 1Definitions

This text of Indiana § 28-6.2-1-7 ("Control" defined) 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 § 28-6.2-1-7 (2026).

Text

(a)"Control" of a savings bank means:

(1)controlling, owning, or having the power to vote, directly or indirectly, or acting through one (1) or more persons, twenty-five percent (25%) or more of any class of voting securities of the savings bank; or

(2)in any manner controlling the election of a majority of the directors of the savings bank.

(b)"Control" of a savings bank also exists if the department determines, after notice and opportunity for hearing, that a person directly or indirectly exercises a controlling influence over the management or policies of the savings bank.

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(a) "Control" of a savings bank means:
(1) controlling, owning, or having the power to vote, directly or
indirectly, or acting through one (1) or more persons, twenty-five
percent (25%) or more of any class of voting securities of the
savings bank; or
(2) in any manner controlling the election of a majority of the
directors of the savings bank.
(b) "Control" of a savings bank also exists if the department
determines, after notice and opportunity for hearing, that a person
directly or indirectly exercises a controlling influence over the
management or policies of the savings bank.