Ind. Code § 28-6.1-16-3

Current through P.L. 171-2024

Section 28-6.1-16-3 - Conversion procedure

The department shall prescribe the procedure for conversion under this chapter. The procedure must include the following conditions:

(1) The conversion must be proposed by the board of the savings bank in a resolution of conversion.

(2) The resolution of conversion must be adopted by an affirmative vote of at least two-thirds (2/3) of the board members.

(3) The savings bank must provide all relevant information requested by the department in connection with the conversion.

IC 28-6.1-16-3

As added by P.L. 42-1993, SEC.72.