Indiana Code 28-1-21.8-6. Stock savings bank conversion
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Sec. 6. As used in this chapter, “stock savings bank conversion” means the conversion of a savings association to a stock savings bank, including any of the following:
(2) An acquisition involving an existing corporation.
(1) A conversion in connection with the formation of a holding company.
Terms Used In Indiana Code 28-1-21.8-6
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- savings association: means an institution (as defined in 12 U. See Indiana Code 28-1-21.8-4
- stock savings bank: means a savings bank owned by holders of capital stock and formed by conversion under this chapter. See Indiana Code 28-1-21.8-5
(3) The merger with an existing financial institution.
As added by P.L.42-1993, SEC.43.