Rights and obligations upon conversion
Ind. Code § 28-6.1-14-5
in effectSec. 5. Upon conversion, the new state bank or new savings association:
(1) has all the rights, privileges, immunities, and powers of a bank organized under IC 28-1 or a savings association organized under IC 28-4 (before its repeal) or under IC 28-15;
(2) is subject to all the duties, restrictions, penalties, and liabilities of a bank organized under IC 28-1 or a savings association organized under IC 28-4 (before its repeal) or under IC 28-15; and
(3) is governed by IC 28-13.
As added by P.L.42-1993, SEC.72. Amended by P.L.79-1998, SEC.75.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026