IC 28-6.2-2-1.5 Reorganization As Federal Mutual Holding Company; Approval of Department and Primary Federal Regulator; Required Transactions

• Library: Indiana Statutes
• Edition: 2023
• Currency: Current through P.L. 255-2023
• Year: 2023
• Citation: IC 28-6.2-2-1.5

(a) As used in this section, "primary federal regulator" means the federal agency primarily responsible for the regulation of mutual holding companies (as defined in IC <codecitation statecd="IN" sessionyear="2021" datatype="S" title="28" catchline=""Mutual holding company"">28-6.2-1-12</codecitation>) .</subsect>

(b) A mutual savings bank may, upon application to and with the approval by the department and the primary federal regulator, reorganize as a federal mutual holding company by undertaking a transaction or series of transactions substantially similar to those set forth in section 1 of this chapter.