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Indiana Code Title 28. Financial Institutions § 28-6.1-16-3

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

Sec. 3. The department shall prescribe the procedure for conversion under this chapter.  The procedure must include the following conditions:

(1) The conversion must be proposed by the board of the savings bank in a resolution of conversion.

(2) The resolution of conversion must be adopted by an affirmative vote of at least two-thirds ( 2/3 ) of the board members.

(3) The savings bank must provide all relevant information requested by the department in connection with the conversion.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-6.1-16-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-6-1-16-3/

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