1. (a) An Indiana savings association holding company is entitled to acquire one (1) or more:

   1. (1) foreign savings associations; or

   2. (2) foreign savings association holding companies;

      after the department grants the application of the holding company for approval of the proposed acquisition.

2. (b) The department shall approve or deny an application for approval of a proposed acquisition under this section not more than ninety (90) days after the department receives the application, unless the department needs additional time for consideration of the application.

As added by P.L.193-1997, SEC.2.