Sec. 11. (a) The department may approve or disapprove the conversion plan filed under section 9 of this chapter.
(b) The department is not required to hold a hearing on the conversion plan.
(c) Solicitation of the votes of voting parties may occur before the savings association receives approval of the department if the director of the department has reviewed the proxy solicitation material and has notified the savings association in writing that the department does not object to the use of the material.
As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.54.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
28-1-21.4-1. "Mutual Savings Association"
28-1-21.4-2. "Charter Conversion"
28-1-21.4-3. "Conversion Plan"
28-1-21.4-4. "Effective Time of the Charter Conversion"
28-1-21.4-5.1. "Primary Federal Regulator"
28-1-21.4-6. "Stock Savings Association"
28-1-21.4-8. Power of Mutual Savings Associations to Convert Charter
28-1-21.4-9. Duty of Department to Prescribe Procedures
28-1-21.4-11. Approval or Disapproval by Department
28-1-21.4-12. Conditions for Approval
28-1-21.4-13. Powers and Duties at Effective Time of Conversion
28-1-21.4-14. Transitional Period