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2018 Indiana Code
TITLE 28. Financial Institutions
ARTICLE 1. DEPARTMENT OF FINANCIAL INSTITUTIONS
CHAPTER 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union
28-1-33-10. Department approval
Universal Citation: IN Code § 28-1-33-10 (2018)
IC 28-1-33-10 Department approval
Sec. 10. (a) The department may approve or disapprove the conversion plan filed under section 8 of this chapter.
(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 mutual savings bank receives approval of the department if the director of the department has reviewed the proxy solicitation material and has notified the mutual savings bank in writing that the department does not object to use of the material.
As added by P.L.1-2006, SEC.492.
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