Acquisition of foreign savings associations and holding companies

Sec. 7. (a) The acquisition of a foreign savings association by an Indiana savings association holding company under section 5 of this chapter includes the acquisition of all the branches owned by the foreign savings association. (b) The acquisition of the holding company of a foreign savings association by an Indiana savings association holding company includes the acquisition of: (1) all the subsidiaries of the acquired foreign savings association holding company; and (2) all the branches of the subsidiaries of the foreign savings association holding company. (c) After an acquisition under section 5 of this chapter: (1) an acquiring Indiana savings association; (2) an acquired foreign savings association; and (3) the subsidiaries of an acquired foreign savings association holding company; have the same branching rights as a foreign savings association. As added by P.L.193-1997, SEC.2.