Indiana Code 28-15-10-7. Acquisition of foreign savings associations and holding companies
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Sec. 7. (a) The acquisition of a foreign savings association by an Indiana savings association holding company under section 5 of this chapter includes the acquisition of all the branches owned by the foreign savings association.
(1) all the subsidiaries of the acquired foreign savings association holding company; and
(b) The acquisition of the holding company of a foreign savings association by an Indiana savings association holding company includes the acquisition of:
Terms Used In Indiana Code 28-15-10-7
- foreign savings association: means :
Indiana Code 28-15-10-1
- foreign savings association holding company: means a savings association holding company whose principal place of business is located outside Indiana. See Indiana Code 28-15-10-2
- Indiana savings association: means :
Indiana Code 28-15-10-3
- Indiana savings association holding company: means a savings association holding company whose principal place of business is located in Indiana. See Indiana Code 28-15-10-4
(2) all the branches of the subsidiaries of the foreign savings association holding company.
(c) After an acquisition under section 5 of this chapter:
(1) an acquiring Indiana savings association;
(2) an acquired foreign savings association; and
(3) the subsidiaries of an acquired foreign savings association holding company;
have the same branching rights as a foreign savings association.
As added by P.L.193-1997, SEC.2.