Ind. Code § 28-15-14-1

Merger, consolidation, or conversion; vote of shareholders and members required; compliance with federal law

Redline — January 1, 2018 → current.View current text →

Current — January 1, 2023

As of January 1, 2018

Sec. 1. (a) A savings association may be:

(1) merged or consolidated with; or

(2) converted into;

a federal savings ~~and loan~~ association, under the charter of the federal savings ~~and loan~~ association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of the votes cast at a legal meeting of the shareholders and members of the state chartered savings association called to consider the proposed merger, consolidation, or conversion.

a federal savings association, under the charter of the federal savings association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of the votes cast at a legal meeting of the shareholders and members of the state chartered savings association called to consider the proposed merger, consolidation, or conversion.

(b) A merger, consolidation, or conversion under this section must be accomplished:

(1) in compliance with the laws of the United States relating to the merger, consolidation, or conversion; and

(2) upon terms and conditions prescribed or approved by the Office of the Comptroller of the Currency or its successor.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.