Sec. 10. (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 bank receives approval of the department, if the director of the department has reviewed the proxy solicitation material and has notified the savings bank in writing that the department does not object to use of the material.
As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.44.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 21.9. Charter Conversion of a Mutual Savings Bank to a Stock Savings Bank
28-1-21.9-1. Charter Conversion
28-1-21.9-3. Effective Time of the Charter Conversion
28-1-21.9-5.1. Primary Federal Regulator
28-1-21.9-6. Stock Savings Bank
28-1-21.9-8. Conversion to Stock Savings Banks
28-1-21.9-9. Conversion Procedures
28-1-21.9-11. Conditions for Approval of Conversion Plans
28-1-21.9-12. Rights and Obligations of Converted Stock Savings Banks
28-1-21.9-13. Transitional Period
28-1-21.9-14. Retention of Branches
28-1-21.9-15. Articles of Charter Conversion