Sec. 10. (a) As used in this section, "bank" has the meaning set forth in IC 28-2-14-2.
(b) As used in this section, "banker's bank" means a bank that satisfies both of the following:
(1) The stock of the bank is owned exclusively by:
(A) other banks; or
(B) a bank holding company, the stock of which is owned exclusively by other banks.
(2) The bank is engaged exclusively in providing services to other banks and to their officers, directors, and employees.
(c) Notwithstanding any other provision of this article, a savings bank may purchase for its own account shares of stock of a banker's bank insured by the Federal Deposit Insurance Corporation or a holding company that owns or controls a banker's bank insured by the Federal Deposit Insurance Corporation.
(d) A savings bank's holdings of the stock of an insured banker's bank or of a holding company that owns or controls an insured banker's bank may not exceed ten percent (10%) of the capital and surplus of the savings bank.
(e) A savings bank may not purchase the stock of an insured banker's bank or of a holding company that owns or controls an insured banker's bank if, after the purchase, the savings bank would own more than five percent (5%) of any class of voting securities of the banker's bank or holding company.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
Chapter 10. Savings Banks Dealing in Investment Securities
28-6.1-10-1. Application of Limitations
28-6.1-10-2. Total Equity Capital
28-6.1-10-3. Dealing Requirements
28-6.1-10-4. Dealings for Bank's Own Account
28-6.1-10-5. Underwriting or Guaranteeing Issues of Securities
28-6.1-10-7. Purchase and Sale of Government Chartered Small Business Investment Company Stock
28-6.1-10-8. Purchase and Sale of Collateralized Mortgage Obligations
28-6.1-10-9. Purchase and Sale of Nonsubsidiary Corporation Stock
28-6.1-10-10. Purchase and Holding of Banker's Bank Stock
28-6.1-10-11. Investments in Casualty Insurance Companies
28-6.1-10-12. Establishment and Acquisition of Subsidiaries
28-6.1-10-13. Establishment of Trading Accounts