Indiana Code 28-1-31-12. Filing articles of charter conversion
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Terms Used In Indiana Code 28-1-31-12
- charter conversion: means the conversion of an out-of-state financial institution to a commercial bank. See Indiana Code 28-1-31-1
- commercial bank: means a bank or trust company (as defined by IC 28-1-1-3(2)). See Indiana Code 28-1-31-2
- department: means the department of financial institutions and, if applicable, the department's authorized delegate. See Indiana Code 28-1-31-3
- out-of-state financial institution: means a bank or savings bank organized under the laws of any other state or the United States that has a branch or branches in Indiana that were established under IC 28-2-17 or IC 28-2-18. See Indiana Code 28-1-31-5
Sec. 12. In order to effect the charter conversion, the converting out-of-state financial institution shall file articles of charter conversion, bearing the approval of the director of the department, with the secretary of state. The converting out-of-state financial institution shall also file copies of the articles of charter conversion with the county recorder of the county where the principal office of the commercial bank is located.
As added by P.L.1-2006, SEC.490.