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Indiana Code Title 28. Financial Institutions § 28-15-14-1

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1. (a) A savings association may be:

(1) merged or consolidated with;  or

(2) converted into;

a federal savings association, under the charter of the federal savings association or under a new charter issued to the converted association or the merged or consolidated association, upon a vote of fifty-one percent (51%) or more of the votes cast at a legal meeting of the shareholders and members of the state chartered savings association called to consider the proposed merger, consolidation, or conversion.

(b) A merger, consolidation, or conversion under this section must be accomplished:

(1) in compliance with the laws of the United States relating to the merger, consolidation, or conversion;  and

(2) upon terms and conditions prescribed or approved by the Office of the Comptroller of the Currency or its successor.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-15-14-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-15-14-1/

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