Indiana Code 28-1-21.7-14. Articles of conversion; filing
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Terms Used In Indiana Code 28-1-21.7-14
- department: means the department of financial institutions and, if applicable, the department's authorized delegate. See Indiana Code 28-1-21.7-1
- mutual bank: means a mutual savings bank governed by Indiana Code 28-1-21.7-3
- mutual bank conversion: means the conversion of a savings association to a mutual bank. See Indiana Code 28-1-21.7-4
- savings association: means an institution (as defined in 12 U. See Indiana Code 28-1-21.7-6
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 file copies of the articles of mutual bank conversion with the county recorder of the county where the principal office of the mutual bank is located.
As added by P.L.147-1990, SEC.3.