Sec. 10. (a) Except as otherwise provided, and subject to subsection (b), an officer, director, owner, partner, employee, or attorney of any bank or trust company who stipulates for, receives, or consents or agrees to receive, any fee, commission, gift, or thing of value, from any person, for the purpose of procuring or endeavoring to procure for any person any loan from or the purchase or discount of any paper, note, draft, check, or bill of exchange by the bank or trust company, commits a Class A misdemeanor.
(b) The prohibitions set forth in subsection (a) do not apply to a bank's or a trust company's:
(1) bona fide employment agreements, including benefit or compensation plans; or
(2) compensation agreements with third party independent contractors.
Formerly: Acts 1933, c.40, s.204. As amended by Acts 1978, P.L.2, SEC.2809; P.L.159-2017, SEC.32.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 13. Loans and Investments of Banks and Trust Companies
28-1-13-1.1. "Capital and Surplus" or "Unimpaired Capital and Unimpaired Surplus" Defined
28-1-13-1.2. "Loans and Extensions of Credit" Defined
28-1-13-1.6. Exceptions to Limitations on Loans or Extensions of Credit to One Borrower
28-1-13-1.7. Limit on Total Consumer Credit Obligation of One Borrower
28-1-13-7.1. State Chartered Banks; Real Estate Loans
28-1-13-8. Loans on Security of Own Shares; Acquisition of Shares; Disposition
28-1-13-11. Reduction of Existing Obligations Held in Excess of Limitations