Sec. 16. (a) Except as provided in subsection (c), a stock savings bank formed under this chapter is governed by IC 28-6.1 . (b) For purposes of a stock savings bank formed under this chapter, a reference in IC 28-6.1 to formation and operation by a board means: (1) formation by conversion under this chapter; and (2) operation by a board of directors elected by shareholders under IC 28-13 . (c) IC 28-6.1-3 does not apply to a stock savings bank formed by conversion under this chapter.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.