Sec. 4. (a) A corporate fiduciary may purchase for its own account and sell investment securities under the limitations and restrictions the department prescribes by rule or policy. However, the total amount of the investment securities of any one (1) obligor or maker purchased or held by a corporate fiduciary for its own account shall not at any time exceed ten percent (10%) of the amount of the total equity capital of the corporate fiduciary.
(b) The limitations imposed by subsection (a) do not apply to:
(1) the direct or indirect obligations of the United States; or
(2) the direct obligations of:
(A) a United States territory or insular possession;
(B) the state of Indiana; or
(C) any municipal corporation or taxing district in Indiana.
As added by P.L.262-1995, SEC.90.
Structure Indiana Code
Title 28. Financial Institutions
Article 14. Corporate Fiduciaries
Chapter 5. Investments of Corporate Fiduciaries
28-14-5-1. "Total Equity Capital"
28-14-5-2. Limitations on Dealing in Investment Securities
28-14-5-3. Underwriting or Guarantee of Issue of Securities
28-14-5-4. Purchase for Own Account and Sale of Investment Securities
28-14-5-6. Deposit of Funds by Corporate Fiduciaries
28-14-5-7. Prohibition on Purchases of Stock of Nonsubsidiaries
28-14-5-8. Investment in Casualty Insurance Company