Indiana Code
Chapter 3. Powers and Duties
28-14-3-4. Loans

Sec. 4. (a) A corporate fiduciary may:
(1) lend money; and
(2) receive and hold real and personal property as security for the repayment of loans;
only as authorized in this section.
(b) A corporate fiduciary may make a loan to a fiduciary account it administers and may take security for the loan, unless the governing document prohibits borrowing money and pledging account assets. The terms of a loan described in this subsection must be comparable to the terms available from other lenders.
(c) A corporate fiduciary may make a loan to a director, an officer, or an employee of the corporate fiduciary. A loan made under this subsection must be adequately secured. Loans made under this subsection by a corporate fiduciary may not:
(1) total more than ten thousand dollars ($10,000) for each individual; or
(2) exceed five percent (5%) of total equity capital when all loans to directors, officers, and employees are aggregated.
(d) Loans made to directors, officers, and employees under subsection (c) must be made exclusively from corporate funds. Funds from a fiduciary account may not be used to make or secure a loan under subsection (c).
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