Sec. 12. The bank, trust company, corporate fiduciary, or stock savings bank and the holding company are separate and distinct corporations. Notwithstanding any acts or omissions of the officers, directors, or shareholders of the corporations, neither of the corporations has any liability to the creditors, depositors, or shareholders of the other.
As added by P.L.238-1983, SEC.10. Amended by P.L.122-1994, SEC.70; P.L.262-1995, SEC.23.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 7.5. Formation of Certain Bank Holding Companies
28-1-7.5-1. "Holding Company" Defined
28-1-7.5-4. Filing Plan of Exchange and Statement Disclosing Required Information With Department
28-1-7.5-5. Public Hearing; Requisites; Procedures
28-1-7.5-10. Plan of Exchange; Consummation by Operation of Law; Effect
28-1-7.5-11. Redemption by Holding Company of Its Outstanding Common Stock
28-1-7.5-12. Separate and Distinct Corporations; Effect Upon Liability
28-1-7.5-13. Exemption From Requirements of Ic 28-1-2-23
28-1-7.5-14. Acquisition Under Other Lawful Procedures Unaffected