1.(b) For purposes of a stock savings bank formed under this chapter, a reference in IC 28-6.1 to formation and operation by a board means:(1) formation by conversion under this chapter; and(2) operation by a board of directors elected by shareholders under IC 28-13.(c) IC 28-6.1-3 does not apply to a stock savings bank formed by conversion under this chapter.As added by P.L.42-1993, SEC.44.
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