§ 28-6.2-2-8 — Reorganization plan requirements

Indiana § 28-6.2-2-8

• Jurisdiction: Indiana
• Art. 6.2: MUTUAL SAVINGS BANK HOLDING
• Ch. 2: Reorganizing as a Mutual Savings Bank Holding

Text

Each reorganization plan must:
(1) contain a description of all significant terms of the proposed
reorganization;
(2) include as an attachment and incorporate the following:
(A) Any proposed stock issuance plan.
(B) An opinion of counsel or a ruling from the federal Internal
Revenue Service and the department of state revenue as to the
federal and state tax treatment of the proposed reorganization.
(C) A copy of the proposed articles of reorganization and
bylaws of the resulting savings bank.
(D) A description of the method of reorganization under this
chapter.
(E) A statement that, upon consummation of the reorganization,
certain assets and liabilities, including all deposit accounts of
the reorganizing savings bank, shall be transferred to the
resulting savings bank, which shall immediately become a
savings bank subsidiary of the mutual holding company.
(F) A copy of any stock issuance plan that is proposed as part
of the reorganization plan.
(G) A summary of the expenses to be incurred in connection
with the reorganization.

Legislative History

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