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 28-1-21.9-10

  • conversion plan: refers to the plan of charter conversion of a savings bank to a stock savings bank required by this chapter. See Indiana Code 28-1-21.9-2
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • savings bank: has the meaning set forth in Indiana Code 28-1-21.9-5.5
  • voting parties: means the:

    Indiana Code 28-1-21.9-7

     (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 bank receives approval of the department, if the director of the department has reviewed the proxy solicitation material and has notified the savings bank in writing that the department does not object to use of the material.

As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.44.

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