2013 Indiana Code TITLE 28. FINANCIAL INSTITUTIONS ARTICLE 6.1. SAVINGS BANKS CHAPTER 1. GENERAL PROVISIONS
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IC 28-6.1
ARTICLE 6.1. SAVINGS BANKS
IC 28-6.1-1
Chapter 1. General Provisions
IC 28-6.1-1-1
Application of article
Sec. 1. Except as provided in this article, this article applies to all
savings banks.
As added by P.L.42-1993, SEC.72.
IC 28-6.1-1-2
Applicability of corporate governance laws; references
Sec. 2. (a) This section applies only to a savings bank (whether in
stock or mutual form of ownership) that was:
(1) formed as a result of conversion under IC 28-1-21.7,
IC 28-1-21.8, or IC 28-1-21.9 after December 31, 1992;
(2) incorporated under IC 28-12; or
(3) formed as a result of conversion under IC 28-1-30.
(b) A savings bank described in subsection (a) is governed by
IC 28-13 in addition to this article.
(c) A reference in this article to formation and operation by a
board means formation by conversion and operation by an elected
board of directors.
(d) As to a mutual savings bank, a reference in IC 28-13-5,
IC 28-13-6, IC 28-1-7, IC 28-1-7.1, IC 28-1-8, or IC 28-1-9 to
shareholders and shareholders' meetings means members and
members' meetings.
(e) Notwithstanding subsection (d), in a proposed disposition
described in IC 28-1-8-3(b), the rights and remedies for dissenting
shareholders set forth in IC 28-1-7-21 do not apply.
As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994,
SEC.94; P.L.192-1997, SEC.13; P.L.62-1999, SEC.3; P.L.27-2012,
SEC.81; P.L.13-2013, SEC.73.
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