Sec. 5. The sum that a corporate fiduciary invests in real estate and buildings used for the convenient transaction of its business shall not exceed fifty percent (50%) of the capital and surplus of the corporate fiduciary, exclusive of undivided profits of the corporate fiduciary, unless the director gives approval in writing to investments exceeding the limit set forth in this subsection.
As added by P.L.262-1995, SEC.90.
Structure Indiana Code
Title 28. Financial Institutions
Article 14. Corporate Fiduciaries
Chapter 4. Real Estate Powers of Corporate Fiduciaries
28-14-4-1. Power to Purchase or Convey Real Estate Necessary for Convenient Transaction of Business
28-14-4-2. Real Property Held Without Use for One Year
28-14-4-3. Real Property Held Without Use for More Than Three Years
28-14-4-4. Real Property Held Without Use for More Than Ten Years