Indiana Code
Chapter 18. Liquidation and Dissolution of a Savings Bank Organized, Reorganized, or Operating Before January 1, 1993
28-6.1-18-9. Dismissal of Liquidation and Dissolution Actions

Sec. 9. (a) If after hearing the matter, the court determines that it will not be in the best interest of the depositors and other creditors of the savings bank that the savings bank liquidate its affairs and dissolve, the court shall enter an order:
(1) directing the department to return the business and property of the savings bank to the board; and
(2) dismissing the action.
(b) If an order is issued under subsection (a):
(1) the savings bank shall continue to operate as though the proceedings had never begun; and
(2) all costs of the proceedings to the date of the entry of the order shall be paid by the savings bank.
As added by P.L.42-1993, SEC.72.

Structure Indiana Code