2013 Indiana Code TITLE 28. FINANCIAL INSTITUTIONS ARTICLE 15. SAVINGS ASSOCIATIONS CHAPTER 10. INTERSTATE ACQUISITION OF SAVINGS ASSOCIATIONS
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IC 28-15-10
Chapter 10. Interstate Acquisition of Savings Associations
IC 28-15-10-1
"Foreign savings association" defined
Sec. 1. As used in this chapter, "foreign savings association"
means:
(1) a savings association:
(A) that is organized or reorganized under the laws of any
other state or territory of the United States, including the
District of Columbia; and
(B) whose home office is located outside Indiana; or
(2) a federal savings association whose home office is located
outside Indiana.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-2
"Foreign savings association holding company" defined
Sec. 2. As used in this chapter, "foreign savings association
holding company" means a savings association holding company
whose principal place of business is located outside Indiana.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-3
"Indiana savings association" defined
Sec. 3. As used in this chapter, "Indiana savings association"
means:
(1) a savings association whose home office is located in
Indiana; or
(2) a federal savings and loan association whose home office is
located in Indiana.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-4
"Indiana savings association holding company" defined
Sec. 4. As used in this chapter, "Indiana savings association
holding company" means a savings association holding company
whose principal place of business is located in Indiana.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-5
Indiana savings association holding company; acquisitions by
Sec. 5. (a) An Indiana savings association holding company is
entitled to acquire one (1) or more:
(1) foreign savings associations; or
(2) foreign savings association holding companies;
after the department grants the application of the holding company
for approval of the proposed acquisition.
(b) The department shall approve or deny an application for
approval of a proposed acquisition under this section not more than
ninety (90) days after the department receives the application, unless
the department needs additional time for consideration of the
application.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-6
Foreign savings association holding company; acquisitions by
Sec. 6. (a) A foreign savings association holding company is
entitled to acquire one (1) or more:
(1) Indiana savings associations; or
(2) Indiana savings association holding companies;
after the department grants the application of the foreign savings
association holding company for approval of the proposed
acquisition.
(b) The department shall approve or deny an application for
approval of a proposed acquisition under this section not more than
ninety (90) days after the department receives the application, unless
the department needs additional time for consideration of the
application.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-7
Acquisition of foreign savings associations and holding companies
Sec. 7. (a) The acquisition of a foreign savings association by an
Indiana savings association holding company under section 5 of this
chapter includes the acquisition of all the branches owned by the
foreign savings association.
(b) The acquisition of the holding company of a foreign savings
association by an Indiana savings association holding company
includes the acquisition of:
(1) all the subsidiaries of the acquired foreign savings
association holding company; and
(2) all the branches of the subsidiaries of the foreign savings
association holding company.
(c) After an acquisition under section 5 of this chapter:
(1) an acquiring Indiana savings association;
(2) an acquired foreign savings association; and
(3) the subsidiaries of an acquired foreign savings association
holding company;
have the same branching rights as a foreign savings association.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-8
Acquisition of Indiana savings associations
Sec. 8. (a) The acquisition of an Indiana savings association under
section 6 of this chapter includes the acquisition of all subsidiaries
of the Indiana savings association.
(b) The acquisition of the holding company of an Indiana savings
association under this chapter includes the acquisition of:
(1) the Indiana savings association subsidiaries of the acquired
Indiana savings association holding company; and
(2) all branches of the Indiana savings association subsidiaries
of the acquired Indiana savings association holding company.
(c) After an acquisition under section 6 of this chapter:
(1) an acquiring foreign savings association;
(2) an acquired Indiana savings association; and
(3) the subsidiaries of an acquired Indiana savings association
holding company;
have the same branching rights as an Indiana savings association.
As added by P.L.193-1997, SEC.2.
IC 28-15-10-9
Applications for acquisitions; required filings
Sec. 9. (a) If federal law requires a savings association or savings
association holding company to submit an application to a federal
agency before an acquisition under this chapter, the savings
association or savings association holding company must comply
with federal law and file with the department:
(1) a copy of all papers filed with the federal agency; and
(2) when issued, a copy of the approval or other action taken by
the federal agency regarding the application.
(b) For purposes of an acquisition under this chapter, compliance
with federal law requiring the submission and approval of a permit
authorizing the acquisition constitutes compliance with the
requirements of this chapter.
As added by P.L.193-1997, SEC.2.
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