Title 28, FINANCIAL INSTITUTIONS

Sec. 16. (a) To effect the charter conversion, the converting savings association must file with the secretary of state articles of charter conversion showing the approval of the director of the department. (b) The converting savings association shall record copies of the article…

Sec. 17. The department may adopt rules under IC 4-22-2 or policies to implement this chapter. As added by P.L.176-1996, SEC.14.

Sec. 2. As used in this chapter, "charter conversion" means the conversion of a mutual savings association to a stock savings association, including any of the following: (1) A conversion in connection with the formation of a holding company. (2) An acquisition involving an exist…

Sec. 3. As used in this chapter, "conversion plan" refers to the plan of charter conversion of a mutual savings association to a stock savings association required by this chapter. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.48.

Sec. 4. As used in this chapter, "effective time of the charter conversion" means the date: (1) that the articles of conversion are filed with the secretary of state under section 16 of this chapter; or (2) designated in the articles of conversion. As added by P.L.176-1996, SEC.1…

Sec. 5.1. As used in this chapter, "primary federal regulator" means the federal agency primarily responsible for the regulation of: (1) savings associations; or (2) savings association holding companies; organized under the laws of any state or the United States. As added by P.L…

Sec. 6. As used in this chapter, "stock savings association" means a savings association that is: (1) owned by holders of capital stock; and (2) formed by conversion under this chapter. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.49.

Sec. 7. As used in this chapter, "voting parties" means the: (1) depositors; and (2) borrowers; of a mutual savings association as provided in IC 28-13-6-2(f). As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.50; P.L.215-1999, SEC.5.

Sec. 8. Notwithstanding any provision of this title, a mutual savings association may convert its charter under this chapter with the approval of the department. As added by P.L.176-1996, SEC.14. Amended by P.L.79-1998, SEC.51.

Sec. 9. (a) The department shall prescribe procedures for charter conversions under this chapter. (b) The procedures prescribed by the department must include the following: (1) The savings association must prepare and submit a conversion plan to the department that provides the …

Sec. 1. As used in this chapter, "charter conversion" means the conversion of a savings association to a commercial bank. As added by P.L.147-1990, SEC.2.

Sec. 10. (a) The department may approve or disapprove the plan of charter conversion filed under section 9 of this chapter. (b) Solicitation of the votes of voting parties may occur before receipt of the approval of the department. (c) The department may not approve the plan of c…

Sec. 11. Upon conversion of a savings association, the resulting commercial bank: (1) possesses all of the rights, privileges, immunities, and powers of a commercial bank; (2) unless otherwise provided in this chapter, is subject to all of the duties, restrictions, obligations, a…

Sec. 12. The department may authorize the resulting commercial bank to do the following: (1) Wind up any activities legally engaged in by the savings association at the time of charter conversion not permitted to commercial banks. (2) Retain any assets legally held by the savings…

Sec. 13. Notwithstanding IC 28-2-13, a commercial bank created by charter conversion may retain all branches lawfully established. As added by P.L.147-1990, SEC.2. Amended by P.L.42-1993, SEC.38.

Sec. 14. In order to effect the charter conversion, the converting savings association shall file articles of charter conversion, bearing the approval of the director of the department, with the secretary of state. The converting savings association shall also file copies of the …

Sec. 15. Upon the effective time of charter conversion, the converted commercial bank shall, unless otherwise provided in this chapter, immediately become subject to all statutes and rules applicable to commercial banks. As added by P.L.147-1990, SEC.2.

Sec. 2. As used in this chapter, "commercial bank" means a stock bank or trust company (as defined by IC 28-1-1-3(2)). As added by P.L.147-1990, SEC.2. Amended by P.L.42-1993, SEC.35.

Sec. 3. As used in this chapter, "department" means the Indiana department of financial institutions and, if applicable, the department's authorized delegate. As added by P.L.147-1990, SEC.2.

Sec. 4. As used in this chapter, "effective time of the charter conversion" means: (1) the date that articles of conversion are filed with the Indiana secretary of state; or (2) the date designated in the articles of conversion. As added by P.L.147-1990, SEC.2. Amended by P.L.122…

Sec. 5.1. As used in this chapter, "primary federal regulator" means the federal agency primarily responsible for the regulation of: (1) savings associations; or (2) savings association holding companies; organized under the laws of any state or the United States. As added by P.L…

Sec. 6. As used in this chapter, "savings association" means an institution (as defined in 12 U.S.C. 1813(b)) that maintains the principal office of the institution in Indiana. The term includes federally chartered savings associations and savings banks, and state savings and loa…

Sec. 7. As used in this chapter, "voting parties" means in the case of a mutual savings association the mutual savings association's depositors or members, and in the case of a stock savings association the stock savings association's stockholders. Voting parties have the voting …

Sec. 8. Any savings association may, upon approval of the department and, if required by federal law, the primary federal regulator, effect a charter conversion. As added by P.L.147-1990, SEC.2. Amended by P.L.27-2012, SEC.59.

Sec. 9. The department shall prescribe procedures for charter conversions. The procedures prescribed by the department must include the following: (1) The savings association shall prepare and submit a plan of charter conversion to the department that provides the terms and condi…

Sec. 1. As used in this chapter, "department" means the department of financial institutions and, if applicable, the department's authorized delegate. As added by P.L.147-1990, SEC.3.

Sec. 10. (a) The department may approve or disapprove the plan of mutual bank conversion filed under section 9 of this chapter. (b) Solicitation of the votes of voting parties may occur prior to receipt of the approval of the department. (c) The department may not approve the pla…

Sec. 11. Upon conversion of a savings association, the resulting mutual bank: (1) possesses all of the rights, privileges, immunities, and powers of a mutual bank; (2) unless otherwise provided in this chapter, is subject to all of the duties, restrictions, obligations, and liabi…

Sec. 12. The department may authorize the resulting mutual bank to do the following: (1) Wind up any activities legally engaged in by the savings association at the time of mutual bank conversion not permitted to mutual banks. (2) Retain any assets legally held by the savings ass…

Sec. 13. Notwithstanding IC 28-6.1-12, a mutual bank created by charter conversion may retain all branches lawfully established. As added by P.L.147-1990, SEC.3. Amended by P.L.42-1993, SEC.42.

Sec. 14. In order to effect the mutual bank conversion, the converting savings association shall file articles of mutual bank conversion, bearing the approval of the director of the department, with the Indiana secretary of state. The converting savings association shall also fil…

Sec. 15. Upon the effective time of mutual bank conversion, the converted mutual bank, unless otherwise provided in this chapter, immediately becomes subject to all statutes and rules applicable to mutual banks. As added by P.L.147-1990, SEC.3.

Sec. 2. As used in this chapter, "effective time of the mutual bank conversion" means: (1) the date that articles of mutual bank conversion are filed with the secretary of state; or (2) the date designated in the articles of mutual bank conversion. As added by P.L.147-1990, SEC.3…

Sec. 3. (a) As used in this chapter, "mutual bank" means a mutual savings bank governed by IC 28-6.1. (b) A reference in IC 28-6.1 to formation and operation of a savings bank by a board means formation by conversion under this chapter and operation by a board of directors electe…

Sec. 4. As used in this chapter, "mutual bank conversion" means the conversion of a savings association to a mutual bank. As added by P.L.147-1990, SEC.3.

Sec. 5.1. As used in this chapter, "primary federal regulator" means the federal agency primarily responsible for the regulation of: (1) savings associations; or (2) savings association holding companies; organized under the laws of any state or the United States. As added by P.L…

Sec. 6. As used in this chapter, "savings association" means an institution (as defined in 12 U.S.C. 1813(b)) that maintains its principal office in Indiana. The term includes federally chartered savings associations and savings banks, and state savings and loan associations and …

Sec. 7. As used in this chapter, "voting parties" means a mutual savings association's depositors or members. Voting parties have the voting rights stipulated by the bylaws of the converting savings association. As added by P.L.147-1990, SEC.3.

Sec. 8. Any savings association may, upon approval of the department and, if required by federal law, the primary federal regulator, effect a mutual bank conversion. As added by P.L.147-1990, SEC.3. Amended by P.L.27-2012, SEC.63.

Sec. 9. The department shall prescribe procedures for mutual bank conversions. The procedures prescribed by the department must include the following: (1) The savings association shall prepare and submit a plan of mutual bank conversion to the department that provides the terms a…

Sec. 1. As used in this chapter, "conversion plan" refers to the stock savings bank conversion plan required by this chapter. As added by P.L.42-1993, SEC.43.

Sec. 10. (a) The department may approve or disapprove the conversion plan filed under section 9 of this chapter. (b) The department is not required to hold a hearing on the conversion plan. (c) Solicitation of the votes of voting parties may occur before the savings association r…

Sec. 11. The department may not approve the conversion plan unless the department finds, after appropriate investigation or examination, all of the following: (1) That the resulting stock savings bank will operate in a safe, sound, and prudent manner. (2) That the proposed stock …

Sec. 12. At the effective time of the charter conversion, the resulting stock savings bank: (1) possesses all of the rights, privileges, immunities, and powers of a stock savings bank; (2) unless otherwise provided in this chapter, is subject to all of the statutes, rules, duties…

Sec. 13. The department may authorize the resulting stock savings bank to do the following: (1) Wind up any activities legally engaged in by the savings association at the effective time of the charter conversion not permitted to stock savings banks. (2) Retain for a transitional…

Sec. 14. Notwithstanding IC 28-6.1-12, a stock savings bank created by a stock savings bank conversion may retain all branches lawfully established. As added by P.L.42-1993, SEC.43.