Indiana Code 28-6.1-18-9. Dismissal of liquidation and dissolution actions
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Sec. 9. (a) If after hearing the matter, the court determines that it will not be in the best interest of the depositors and other creditors of the savings bank that the savings bank liquidate its affairs and dissolve, the court shall enter an order:
(2) dismissing the action.
(1) directing the department to return the business and property of the savings bank to the board; and
Terms Used In Indiana Code 28-6.1-18-9
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(b) If an order is issued under subsection (a):
(1) the savings bank shall continue to operate as though the proceedings had never begun; and
(2) all costs of the proceedings to the date of the entry of the order shall be paid by the savings bank.
As added by P.L.42-1993, SEC.72.