Sec. 8. (a) Notwithstanding any other provision of this article, a corporate fiduciary may invest in a casualty insurance company organized solely for the purpose of insuring:
(1) banks;
(2) corporate fiduciaries;
(3) trust companies; and
(4) bank holding companies and their officers and directors;
from and against liabilities, including those covered by bankers' blanket bonds and director and officer liability insurance and other public liability insurance.
(b) Investments made under subsection (a) must take the form of:
(1) the purchase for the corporate fiduciary's own account of:
(A) shares of stock of the casualty insurance company; or
(B) shares of stock of an association of banks organized for the purpose of funding the casualty insurance company; or
(2) loans to an association of banks referred to in subdivision (1)(B).
(c) The total investment of a corporate fiduciary under subsection (a) may not exceed five percent (5%) of the capital and surplus of the corporate fiduciary.
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