Sec. 1. (a) Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, any bank or trust company may convert into or merge or consolidate with a national banking association. Nothing contained in this chapter or in any other law of this state shall be construed to require the approval of any officer, department, or agency of this state as a condition to the right of any bank or trust company to convert into or merge or consolidate with a national banking association. Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, upon approval by the department of financial institutions any national banking association may convert into or merge or consolidate with a resulting bank or trust company (as defined in IC 28-1-1-3). Approval shall be granted if the department of financial institutions determines by examination of the converting, merging, or consolidating institutions, or otherwise, that the resulting bank or trust company meets the standards as to location, condition of assets, capital structure, and quality of management required of banks and trust companies by IC 28-11-5 or IC 28-2.

     (b) A savings bank may merge, consolidate, or join together with a national banking association under section 10 of this chapter.

Formerly: Acts 1953, c.69, s.1. As amended by P.L.263-1983, SEC.3; P.L.36-1987, SEC.18; P.L.171-1996, SEC.38.

Terms Used In Indiana Code 28-3-2-1

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • bank or trust company: means any bank or trust company organized under the provisions of any statute of this state; and

    Indiana Code 28-3-2-9

  • national banking association: means any national bank organized under the laws of the United States. See Indiana Code 28-3-2-9