Sec. 13. Any bank or trust company shall have power to demand and receive for the faithful performance and discharge of services performed pursuant to the powers vested in it by this article reasonable compensation, or such compensation as shall have been fixed by agreement of the parties, together with any and all advances necessarily paid out and expended in the discharge and performance of its duties, and unless otherwise agreed upon, interest at the legal rate on such advances. No compensation or commission paid or agreed to be paid for the negotiation of any loan or the execution of any trust by any such corporation shall be deemed to be interest within the meaning of any law of this state, nor shall any excess thereof over any rate of interest permitted by the laws of this state be decreed or held to be usury in any court of law or equity. The advances contemplated in this section may include the compensation paid for the employment of legal services when necessary for the protection of any trust or other fiduciary relation.
Formerly: Acts 1933, c.40, s.182. As amended by P.L.263-1985, SEC.62.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 11. Powers of Banks and Trust Companies
28-1-11-1. General and Enumerated Rights, Privileges, and Powers; "Bank or Trust Company"
28-1-11-2.5. Sale of Life Insurance Policy or Annuity Contract
28-1-11-3.2. Request to Exercise Rights and Privileges Granted to National Bank; Procedures; Appeal
28-1-11-4. Investments; Deposit of Funds
28-1-11-6. Appointment as Fiduciary
28-1-11-7. Testamentary and Probate Fiduciary Appointments
28-1-11-8. Appointment as Successor Guardian, Trustee, Executor, or Administrator
28-1-11-10. Service as Fiduciary Without Bond; Judicial Control; Requirement of Security
28-1-11-11. Safe Deposits and Escrows