Indiana Code 28-1-7.1-4. Voluntary supervisory conversion; types of transactions
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Sec. 4. A voluntary supervisory conversion of a depository financial institution may include one (1) or more of the following transactions:
(2) Following a conversion of the depository financial institution, a sale of shares of the converted depository financial institution directly to an acquirer, which may be a person, company, depository institution, or depository institution holding company.
(1) A merger of the depository financial institution into an interim depository financial institution with stock ownership.
Terms Used In Indiana Code 28-1-7.1-4
- depository financial institution: has the meaning set forth in IC 28-1-1-6, but does not include a credit union. See Indiana Code 28-1-7.1-1
(3) A merger or consolidation with an existing or newly created depository financial institution. Except as provided in this chapter, a merger or consolidation under this subdivision must be authorized by, and is subject to, any other applicable laws and regulations.
As added by P.L.89-2011, SEC.33.