Indiana Code 28-1-23-6. Restrictions on incorporation and organization
Current as of: 2023 | Check for updates
|
Other versions
Sec. 6. (a) Except as provided in subsection (b), a mutual savings bank or a mortgage guarantee company may not be incorporated or organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and privileges under IC 28-6.1 only by a mutual bank conversion under IC 28-1-21.7.
Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41. As amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8; P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
Terms Used In Indiana Code 28-1-23-6
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.