Sec. 3. The department shall prescribe the procedure for conversion under this chapter. The procedure must include the following:
(1) The board of the savings bank must propose a resolution of conversion.
(2) The resolution of conversion must be adopted by the affirmative vote of at least a majority of the shareholders of the savings bank.
(3) The savings bank must provide all relevant information relating to the conversion requested by the department.
As added by P.L.42-1993, SEC.72.