Sec. 4. An individual must have the following qualifications to be a trustee:
(1) The individual must be a citizen of Indiana for at least five (5) years before becoming a trustee.
(2) The individual must have an equity in real estate:
(A) located in the county in which the savings bank is located; and
(B) worth at least five thousand dollars ($5,000), the value of which is determined by two (2) individuals designated by the court.
(3) The individual must in all respects be a suitable individual to be entrusted with the management of a savings bank.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
28-6.1-3-1. Application of Chapter
28-6.1-3-3. Number of Trustees
28-6.1-3-4. Qualifications of Trustees
28-6.1-3-5. Vacancies; Elections; Qualifications of Successors
28-6.1-3-6. Vacancies; Judicial Appointments
28-6.1-3-7. Vacancies; Successors' Certificates of Qualification and Fitness
28-6.1-3-8. Presidents; Officers and Agents
28-6.1-3-9. Bylaws, Rules, and Regulations
28-6.1-3-11. Reducing Number of Trustees