Section 28-1-21.8-12 - Rights and obligations of converted stock savings banksAt the effective time of the charter conversion, the resulting stock savings bank:
(1) possesses all of the rights, privileges, immunities, and powers of a stock savings bank;(2) unless otherwise provided in this chapter, is subject to all of the statutes, rules, duties, restrictions, obligations, and liabilities of a stock savings bank;(3) succeeds by operation of law to all rights and property of the converting savings association; and(4) is subject to all debts, obligations, and liabilities of the converting savings association as if the stock savings bank had incurred the debts and liabilities.As added by P.L. 42-1993, SEC.43.