- (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.
As added by P.L.42-1993, SEC.44.