1. (a) An acquisition by a company of a bank or a bank holding company is exempt from the requirements of IC 28-1-2-23 if the acquisition is made under this chapter.

2. (b) If a bank will be:

   1. (1) acquired by a bank holding company; and

   2. (2) immediately merged with or consolidated into another bank owned by the acquiring bank holding company;

      the acquisition of the bank is exempt from the provisions of this chapter.

As added by P.L.265-1985, SEC.4. Amended by P.L.262-1995, SEC.56.