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

   1. (1) Indiana savings associations; or

   2. (2) Indiana savings association holding companies;

      after the department grants the application of the foreign savings association 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.