Sec. 10. (a) The converting credit union shall file articles of mutual bank conversion, approved in writing by the director, with the secretary of state.
(b) The effective date of the mutual bank conversion is the date and time that the approved articles of mutual bank conversion are filed with the secretary of state, unless a later effective date is specified in the articles of mutual bank conversion.
(c) The converting credit union shall record a copy of the articles of mutual bank conversion with the county recorder of the county where the principal office of the mutual bank is located.
As added by P.L.62-1999, SEC.2.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 30. Charter Conversion of a Credit Union to a Mutual Savings Bank
28-1-30-1. "Credit Union" Defined
28-1-30-2. "Mutual Bank" Defined
28-1-30-3. "Mutual Bank Conversion" Defined
28-1-30-4. "Voting Parties" Defined
28-1-30-5. Conversion Procedures
28-1-30-6. Approval of Conversion
28-1-30-7. Resulting Mutual Bank
28-1-30-8. Transitional Period
28-1-30-9. Retention of Branch Banks
28-1-30-10. Articles of Mutual Bank Conversion