Prerequisites to reorganization
Ind. Code § 28-6.2-2-2
in effectSec. 2. Before reorganizing into a mutual holding company, a reorganizing savings bank shall do the following:
(1) Obtain approval of a reorganization plan by a majority of the board of directors of the reorganizing savings bank.
(2) File the reorganization plan with the department.
(3) Obtain approval of a reorganization plan by an affirmative vote of a majority of the voting members of the reorganizing savings bank and any acquiree savings bank, at a regular or special meeting of the members.
As added by P.L.122-1994, SEC.101.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026