Indiana Code Title 28. Financial Institutions § 28-1-32-12

Sec. 12. The department may authorize the credit union resulting from a conversion under this chapter to do the following:

The terms and conditions of the winding up of activities under subdivision (1) and the retention of assets under subdivision (2) are subject to the discretion of the department.  However, the transitional period during which activities may be carried out under subdivision (1) or assets may be retained under subdivision (2) may not exceed ten (10) years after the effective time of the conversion.