Indiana Code 28-2-16-19. Foreign bank holding company acquisition of Indiana bank or bank holding company; findings and orders
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Terms Used In Indiana Code 28-2-16-19
- bank: means a financial institution:
Indiana Code 28-2-16-2
- bank holding company: means any company that controls one (1) or more banks. See Indiana Code 28-2-16-3
- company: means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization that has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia. See Indiana Code 28-2-16-5
- department: refers to the department of financial institutions created under IC 28-11-1-1. See Indiana Code 28-2-16-7
- Indiana bank: means a bank that has its principal office in Indiana. See Indiana Code 28-2-16-11
Sec. 19. If the department accepts an application for processing under section 17 of this chapter, the department shall issue an order approving or disapproving the acquisition. The department shall include its findings of fact in the order. If the department holds a hearing under section 18 of this chapter, the findings of fact must include a finding that the terms and conditions of the acquisition and of the issuance and exchange of stock of the applicant for the stock of the Indiana bank or Indiana bank holding company proposed to be acquired are or are not fair and reasonable to the shareholders of the Indiana bank or Indiana bank holding company proposed to be acquired.
As added by P.L.279-1987, SEC.9.