Sec. 21. Companies that do not have any certificates of indebtedness, certificates of investment, deposits, or savings accounts outstanding shall not be subject to the provisions of sections 5, 8 through 14, and 18 of this chapter. After February 27, 1951, no company engaged in business on February 27, 1951, under this chapter as permitted by this section, and no company authorized after February 27, 1951, to engage in business under this chapter, shall at any time thereafter be empowered and authorized to issue, negotiate, or sell, or shall issue, negotiate, or sell certificates of investment or indebtedness. These restrictions shall not limit the power of such corporations otherwise to borrow money commercially or to issue and sell their capital stock.
Formerly: Acts 1935, c.181, s.20a; Acts 1951, c.79, s.2. As amended by P.L.263-1985, SEC.155; P.L.176-1996, SEC.18.
Structure Indiana Code
Title 28. Financial Institutions
Article 5. Industrial Loan and Investment Companies
Chapter 1. Industrial Loan and Investment Act
28-5-1-2. Application of Chapter
28-5-1-3. Definitions; Department's Powers
28-5-1-4. Definitions; Certificate of Authority; Branches; Automated Teller Machines
28-5-1-5. Capital Requirements
28-5-1-6.3. Request to Exercise Rights and Privileges Granted to National Banks; Appeal
28-5-1-6.5. Sale of Annuity Contracts
28-5-1-10. Time for Existing Companies to Comply With Loan Limits
28-5-1-11. Acquisition or Conveyance of Real Estate; Purposes
28-5-1-12. Certificates of Indebtedness or Investment; Form; Payment; Withdrawals
28-5-1-13. Certificates of Indebtedness or Investment; Reserve Balance
28-5-1-14. Surplus Account; Dividends
28-5-1-15. Authority of Department; Examination of Affiliates; Examination of Vendors
28-5-1-16. Records Retention Policy
28-5-1-17. Rules and Regulations
28-5-1-18. Fidelity Coverage for Officers and Employees; Bonds; Reserve Funds
28-5-1-19. Exclusion From Banking Business; False Advertising; Desist Orders
28-5-1-22.1. Prohibited Transactions
28-5-1-25. Conversion Into State Bank, Trust Company, or Savings Association
28-5-1-26. Requirement to Provide Property Tax Information in Certain Transactions