Section 28-15-14-1 - Merger, consolidation, or conversion; vote of shareholders and members required; compliance with federal law(a) A savings association may be:(1) merged or consolidated with; or(2) converted into; a federal savings association, under the charter of the federal savings association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of the votes cast at a legal meeting of the shareholders and members of the state chartered savings association called to consider the proposed merger, consolidation, or conversion.
(b) A merger, consolidation, or conversion under this section must be accomplished:(1) in compliance with the laws of the United States relating to the merger, consolidation, or conversion; and(2) upon terms and conditions prescribed or approved by the Office of the Comptroller of the Currency or its successor.Amended by P.L. 29-2022,SEC. 16, eff. 3/7/2022.Amended by P.L. 27-2012, SEC. 118, eff. 7/1/2012.As added by P.L. 193-1997, SEC.2.