(b) A report of proceedings, including the notice given, the
time of mailing, the amendment adopted, the vote thereon, and the
total number of votes entitled to be cast, verified by the
president, vice president, or managing officer and attested to by
the secretary of the savings bank, shall be filed with the Secretary within 5
business days after the vote.
(c) Each adopted amendment shall be subject to the same
inquiry as the corresponding provision in the original articles.
If the Secretary approves an amendment he shall issue to
the savings bank a certificate setting forth the amendment and his
approval thereof. The amendment shall become effective upon issuance of the certificate.
(d) An amendment of the articles of incorporation approved by the board of directors, the Secretary, and members as part of merger, sale of substantially all assets, change in control, holding company reorganization, or mutual to stock form conversion need not be approved under this Section.
(e) No amendment of articles of incorporation shall affect any existing cause of action either in favor of or against the savings bank or any pending action in which the savings bank shall be a party or the existing rights of persons other than members of the savings bank.
(Source: P.A. 97-492, eff. 1-1-12.)
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