Sec. 15. (a) To effect the charter conversion, the converting savings bank must file with the secretary of state articles of charter conversion showing the approval of the director of the department.

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Terms Used In Indiana Code 28-1-21.9-15

  • charter conversion: means the conversion of a savings bank to a stock savings bank, including any of the following:

    Indiana Code 28-1-21.9-1

  • savings bank: has the meaning set forth in Indiana Code 28-1-21.9-5.5
  • stock savings bank: means a savings bank that is:

    Indiana Code 28-1-21.9-6

     (b) The converting savings bank shall record copies of the articles of charter conversion with the county recorder of the county where the principal office of the stock savings bank is located.

     (c) The articles of charter conversion constitute articles of incorporation and must set forth the elements required in IC 28-12-2-1.

As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.48.

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