Indiana Code 28-6.2-5-7. Permissive transfer of stock, assets, or liabilities

Sec. 7. With the written approval of the department, a mutual holding company may do the following:

(1) Directly or indirectly transfer any interest in stock that it holds in any subsidiary savings bank.

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Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(2) Cause or permit the transfer of all or a substantial portion of the assets or liabilities of any subsidiary savings bank.

As added by P.L.122-1994, SEC.101.