Sec. 10. (a) The department may approve or disapprove the conversion plan filed under section 9 of this chapter.

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Terms Used In Indiana Code 28-1-21.8-10

  • conversion plan: refers to the stock savings bank conversion plan required by this chapter. See Indiana Code 28-1-21.8-1
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • savings association: means an institution (as defined in Indiana Code 28-1-21.8-4
  • voting parties: means the following:

    Indiana Code 28-1-21.8-7

     (b) The department is not required to hold a hearing on the conversion plan.

     (c) Solicitation of the votes of voting parties may occur before the savings association receives the department’s approval of the conversion plan if the director of the department has reviewed the proxy solicitation material and has notified the savings association in writing that the department does not object to use of the material.

As added by P.L.42-1993, SEC.43.

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