Sec. 6. (a) Except as provided in subsection (b), a mutual savings bank or a mortgage guarantee company may not be incorporated or organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and privileges under IC 28-6.1 only by a mutual bank conversion under IC 28-1-21.7.
Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41. As amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8; P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 23. Additional Provisions Pertaining to Financial Institutions
28-1-23-1. Fees Payable to Secretary of State; Fee on Basis of Capital Stock of Credit Union
28-1-23-2. Fees Payable to Secretary of State; Fee on Basis of Capital Stock of Savings Association
28-1-23-5. Execution of Verified Account, Report, or Other Paper