Sec. 16. (a) Except as provided in subsection (c), a stock savings bank formed under this chapter is governed by IC 28-6.1.
(b) For purposes of a stock savings bank formed under this chapter, references in IC 28-6.1 to formation and operation by a board means:
(1) formation by conversion under this chapter; and
(2) operation by a board of directors elected by shareholders under IC 28-13.
(c) IC 28-6.1-3 does not apply to a stock savings bank formed under this chapter.
As added by P.L.42-1993, SEC.43.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 21.8. Charter Conversion of a Mutual or Stock Savings Association to a Stock Savings Bank
28-1-21.8-2. Effective Time of the Charter Conversion
28-1-21.8-3.1. Primary Federal Regulator
28-1-21.8-4. Savings Association
28-1-21.8-5. Stock Savings Bank
28-1-21.8-6. Stock Savings Bank Conversion
28-1-21.8-8. Conversion to Stock Savings Banks
28-1-21.8-9. Conversion Procedures
28-1-21.8-11. Conditions for Approval of Conversion Plans
28-1-21.8-12. Rights and Obligations of Converted Stock Savings Banks
28-1-21.8-13. Transitional Period
28-1-21.8-14. Retention of Branches
28-1-21.8-15. Articles of Conversion