Indiana Code
Chapter 1. Industrial Loan and Investment Act
28-5-1-3. Definitions; Department's Powers

Sec. 3. As used in this chapter and unless a different meaning appears from the context:
(a) The term "capital and surplus" or "unimpaired capital and unimpaired surplus" has the meaning set forth in 12 CFR 32.2.
(b) The term "company" shall mean and include any corporation to which this chapter is applicable.
(c) The term "department" means the department of financial institutions of the state of Indiana.
(d) The department is hereby authorized to approve the issue of capital and investment notes and capital debentures by any company to create capital and surplus, but no such notes and debentures shall be authorized or approved by the department unless such notes and debentures shall, by their terms, provide that the debt, including all accrued and unpaid interest, evidenced thereby shall be subordinate, in order of priority on liquidation, to all of the obligations of the company to the holders of its installment and fully paid certificates of indebtedness or investment and creditors other than such creditors and holders who have expressly agreed otherwise and other than creditors who are such by reason of the ownership of such notes or debentures which the department is authorized to approve by this section.
Formerly: Acts 1935, c.181, s.3; Acts 1937, c.105, s.2; Acts 1955, c.20, s.1; Acts 1971, P.L.399, SEC.1. As amended by P.L.263-1985, SEC.150; P.L.213-2007, SEC.56; P.L.217-2007, SEC.54; P.L.3-2008, SEC.221.

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 5. Industrial Loan and Investment Companies

Chapter 1. Industrial Loan and Investment Act

28-5-1-1. Citation

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. Corporate Powers

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

28-5-1-7. Repealed

28-5-1-8. Limitation of Total Obligation of Single Borrower; Exceptions; Loans to Officers, Agents, and Employees; Violation; Offense; Credit Exposure From Derivative Transactions

28-5-1-9. Mortgage Loans

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

28-5-1-20. Repealed

28-5-1-21. Elimination of Certificates of Indebtedness or Certificates of Investment, Deposits, or Savings Accounts

28-5-1-22. Violations

28-5-1-22.1. Prohibited Transactions

28-5-1-23. Taxation

28-5-1-24. Repealed

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