Permissive transfer of stock, assets, or liabilities

Sec. 7. With the written approval of the department, a mutual holding company may do the following: (1) Directly or indirectly transfer any interest in stock that it holds in any subsidiary savings bank. (2) Cause or permit the transfer of all or a substantial portion of the assets or liabilities of any subsidiary savings bank. As added by P.L.122-1994, SEC.101.