The approval of the department of an:

1. (1) agreement of merger; or

2. (2) agreement of consolidation;

   is not required under this chapter if the corporation surviving the merger or consolidation is an institution organized or reorganized under the laws of the United States or a state (as defined in IC 28-2-17-19 ) other than Indiana.

As added by P.L.122-1994, SEC.41. Amended by P.L.171-1996, SEC.2.