IC 28-1-7.1 – Voluntary Supervisory Conversion | Midpage

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Indiana Code

Chapter 7.1

IC 28-1-7.1

Voluntary Supervisory Conversion

1"Depository financial institution"2"Standard conversion"3Depository financial institution with mutual ownership; authority to engage in voluntary supervisory conversion 4Voluntary supervisory conversion; types of transactions 5Voluntary supervisory conversion; eligibility; conditions 6Director's determination of resulting entity's viability; conditions; authority of director to act; applicability of law governing mergers and consolidations; waiver of law 7Depositors; no right to participate in or approve conversion; no ownership interests in converted institution; liquidation account 8Plan of conversion; adoption by board; contents 9Application to department; required information and documents 10Denial of application; findings by director 11Approval of application; conditions