Ind. Code § 28-1-7.1-7
Depositors; no right to participate in or approve conversion; no ownership interests in converted institution; liquidation account
As added by P.L.89-2011, SEC.33.
Depositors of a depository financial institution with mutual ownership do not have the right to approve or participate in a voluntary supervisory conversion, and will not have any legal or beneficial ownership interests in the converted depository financial institution, unless the department allows otherwise. Depositors may have interests in a liquidation account, if one is established.
As added by P.L.89-2011, SEC.33.