Ind. Code § 28-6.1-18-7

Current through P.L. 171-2024

Section 28-6.1-18-7 - Taking charge of business and assets by department; notice of departmental actions

The department shall do the following:

(1) Immediately take charge of the business and assets of the savings bank.

(2) Give notice of:

(A) the department's orders directing the liquidation and dissolution of the savings bank; and

(B) the appointment of the department's special representative;

by posting copies of the orders in a conspicuous place in the lobby of the savings bank and by one (1) publication of the notice in a newspaper of general circulation, printed in the English language and published in the county where the savings bank is located. The department shall also file a copy of its order appointing a special representative in the court in which the order was filed under section 5 of this chapter.

IC 28-6.1-18-7

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