Sec. 7. With the written approval of the department, a mutual holding company may do the following:
(1) Directly or indirectly transfer any interest in stock that it holds in any subsidiary savings bank.
(2) Cause or permit the transfer of all or a substantial portion of the assets or liabilities of any subsidiary savings bank.
As added by P.L.122-1994, SEC.101.
Structure Indiana Code
Title 28. Financial Institutions
Article 6.2. Mutual Savings Bank Holding Companies
Chapter 5. Powers of a Mutual Holding Company
28-6.2-5-1. Investment and Acquisition Powers; Other Powers
28-6.2-5-3. Pledging Stock; Notification; Certification of Transfer of Proceeds
28-6.2-5-4. Notice of Nonpayment
28-6.2-5-5. Repurchase of Stock; Written Approval
28-6.2-5-6. Acquisition of Additional Shares of Stock
28-6.2-5-7. Permissive Transfer of Stock, Assets, or Liabilities
28-6.2-5-8. Waiver of Right to Receive Dividend; Authorization