1. (a) Subject to Indiana law, the board of a savings bank may from time to time make bylaws, rules, and regulations as the board considers proper for the following purposes:

   1. (1) Election of officers.
   2. (2) Prescribing the powers and duties of the officers.
   3. (3) The manner of discharging the powers and duties of the officers.
   4. (4) Appointment of committees.
   5. (5) Prescribing the duties of committees.
   6. (6) Generally for transacting the business of the corporation.
2. (b) The board shall send a copy of bylaws, rules, and regulations and any amendments to the bylaws, rules, or regulations to the auditor of state.

As added by P.L.42-1993, SEC.72.