Sec. 6. (a) The department shall approve or disapprove the resolution of conversion after first making examinations or investigations the department considers necessary to determine if the proposed conversion is fair and in the best interests of the depositors of the savings bank.
(b) IC 28-1-2-23 and IC 28-11-5 do not apply to a determination under subsection (a).
(c) If the department approves the resolution of conversion, the approval shall be evidenced in the manner prescribed in IC 28-12-5. The approval shall be indicated on the resolution.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
Chapter 15. Conversion of a Savings Bank to a Bank or Trust
28-6.1-15-1. Application of Chapter
28-6.1-15-2. Effective Date of Conversion
28-6.1-15-3. Conversion Permitted
28-6.1-15-4. Resolutions of Conversion
28-6.1-15-5. Terms and Conditions of Conversions; Rights of Depositors
28-6.1-15-6. Approval or Disapproval of Resolutions of Conversion by Department
28-6.1-15-7. Notice to Depositors; Objections; Judicial Review
28-6.1-15-8. Approval of Articles of Incorporation by Secretary of State
28-6.1-15-9. Prerequisites to Doing Business
28-6.1-15-10. Effect of Conversions
28-6.1-15-11. Continued Service of Boards