Sec. 15. (a) To effect a charter conversion, the converting mutual savings bank must file with the secretary of state articles of charter conversion showing the approval of the director of the department.
(b) The converting mutual savings bank shall record copies of the articles of charter conversion with the county recorder of the county where the principal office of the credit union will be located.
(c) The articles of charter conversion constitute articles of incorporation of the resulting credit union and must set forth the elements required in IC 28-7-1-1(b).
As added by P.L.1-2006, SEC.492.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union
28-1-33-1. "Charter Conversion"
28-1-33-4. "Effective Time of the Charter Conversion"
28-1-33-5. "Mutual Savings Bank"
28-1-33-7. Conversion Authority
28-1-33-8. Requirements and Procedures
28-1-33-9. Voting Party Rights
28-1-33-10. Department Approval
28-1-33-11. Requirements for Approval
28-1-33-12. Rights, Privileges, Obligations, and Liabilities
28-1-33-13. Winding Up Activities
28-1-33-15. Filing Articles of Charter Conversion