Indiana Code
Chapter 3. Powers and Duties
28-14-3-3. Articles of Incorporation

Sec. 3. The articles of incorporation of a corporate fiduciary must, without limitation, grant the corporate fiduciary the powers described in sections 4 through 8 of this chapter and authorize the corporate fiduciary to do the following:
(1) Sue and be sued in its corporate name.
(2) Have a corporate seal.
(3) Make and amend bylaws that are not inconsistent with the articles of incorporation or Indiana law.
(4) Purchase, receive, lease, or otherwise acquire and own, hold, improve, use, and otherwise deal with real or personal property, or any legal or equitable interest in real or personal property.
(5) Sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or any part of the corporate fiduciary's property.
(6) Purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of and deal in and with the:
(A) shares or other interests in; and
(B) obligations of;
any entity, including the corporate fiduciary, except as otherwise prohibited by this article.
(7) Borrow money, make contracts and guarantees, incur liabilities, and issue notes, bonds, and other obligations that may be convertible into or include the option to purchase other securities of the corporate fiduciary.
(8) Mortgage or pledge any of its assets.
(9) Purchase for its own account and sell investment securities under such limitations as the department prescribes by rule or policy.
(10) Conduct business, locate offices, and exercise the powers granted by this article regardless of geographic limitations.
(11) Elect directors, elect and appoint officers, and appoint employees and agents of the corporate fiduciary.
(12) Define the duties of directors, officers, and employees of the corporate fiduciary.
(13) Fix the compensation of directors, officers, and employees of the corporate fiduciary.
(14) Pay or pay for the following:
(A) Deferred compensation.
(B) Employment contracts.
(C) Individual or group life insurance.
(D) Insurance on the life or lives of designated officers.
(15) Make donations for the public welfare or for charitable, scientific, or educational purposes.
(16) Become a member of the Federal Reserve system.
(17) With the approval of the department, convert into a bank.
(18) Cease doing business and dissolve under IC 28-1-9.
(19) Exercise all powers that are incidental to and proper or that may be necessary and usual in carrying on a corporate fiduciary business.
As added by P.L.262-1995, SEC.90.

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 14. Corporate Fiduciaries

Chapter 3. Powers and Duties

28-14-3-1. Scope of Chapter

28-14-3-2. Corporate Name

28-14-3-3. Articles of Incorporation

28-14-3-4. Loans

28-14-3-5. Securities Held by Clearing Corporation

28-14-3-6. United States Government Securities

28-14-3-7. Benefits; Incentives; Stock Purchase Programs

28-14-3-8. Subsidiaries

28-14-3-9. Investment and Reinvestment of Assets

28-14-3-10. Acting as Fiscal or Transfer Agent

28-14-3-11. Acting as Insurance Producer for Sale of Annuity Contract or Life Insurance Policy

28-14-3-12. Appointment as Commissioner for Sale of Real Estate; Guardian of Minor or Incapacitated Persons; Trustee, Receiver, Conservator, or Committee of Property or Estate in Insolvency or Bankruptcy Proceedings; Depository of Funds Paid Into Cou...

28-14-3-13. Appointment as Executor, Testamentary Trustee, or Administrator; Corporate Successor to Will Nominee; Co-Fiduciary With Natural Person; Bond or Security

28-14-3-14. Appointment Upon Application or Consent of Person Acting or Entitled to Serve as Guardian, Trustee, Executor, or Administrator

28-14-3-15. Trusts

28-14-3-16. Power to Act in Fiduciary Capacity; Acting as Commissioner for Sale of Real Estate Without Bond or Security; Administration of Oaths

28-14-3-17. Pledge or Deposit of Assets Prohibited

28-14-3-18. Receipt of Property Upon Deposit for Safekeeping or in Escrow

28-14-3-19. Compensation for Fiduciary Services; Counsel Fees

28-14-3-20. Compensation or Commission for Loan Negotiation or Trust Execution Not Considered Interest or Usury

28-14-3-21. Appointment by Court Having Jurisdiction; Power to Renounce Appointment

28-14-3-22. Nonresident Fiduciaries; Establishment of Indiana Office; Rights, Privileges, and Restrictions

28-14-3-23. Service as Successor Trustee

28-14-3-24. Credit Union Service Organizations

28-14-3-25. Powers Relating to Common Trust Funds