Indiana Code
Chapter 6. General Powers of a Savings Bank
28-6.1-6-21. Acting in Fiduciary Capacity

Sec. 21. (a) Except as otherwise provided in this article, a savings bank may act:
(1) in a fiduciary capacity permitted by this article; and
(2) as commissioner for the sale of real estate;
without bond or other security.
(b) When a savings bank is acting in a fiduciary capacity, the savings bank may administer oaths attested by the signature of the savings bank's secretary or cashier and the savings bank's seal in the same fashion as an individual acting in the same capacity may administer oaths.
(c) The court having jurisdiction of the fiduciary may require a bond or other security at any time. Upon failure of the savings bank to give a bond or security as required, the court may remove the savings bank and revoke the savings bank's appointment.
(d) A savings bank may not pledge or deposit any of its assets as a condition to the exercise of any of its powers as a fiduciary.
As added by P.L.42-1993, SEC.72.

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 6.1. Savings Banks

Chapter 6. General Powers of a Savings Bank

28-6.1-6-1. Discounting, Negotiating, Selling, and Guaranteeing Evidences of Debt

28-6.1-6-2. Buying and Selling Exchange, Coin, and Bullion

28-6.1-6-3. Loaning Money; Engaging in Tax Equity Finance Transactions

28-6.1-6-4. Borrowing Money

28-6.1-6-5. Receiving Savings and Demand Deposits

28-6.1-6-6. Receiving Deposits of Securities and Personal Property

28-6.1-6-7. Contracting for and Receiving Highest Rate of Interest

28-6.1-6-8. Accepting Drafts for Future Payment; Issuing Letters of Credit

28-6.1-6-9. Exercising General Banking Powers; Issuing Money

28-6.1-6-10. Receiving Deposits of State and Federal Public Funds

28-6.1-6-11. Acting as Fiscal or Transfer Agent of Government Bodies

28-6.1-6-12. Transferring, Registering, and Countersigning Certificates of Stock, Bonds, and Other Evidences of Indebtedness

28-6.1-6-13. Acting as Agent to Buy and Sell Transportation

28-6.1-6-14. Soliciting and Writing Insurance; Acting as Insurance Producer for Life Insurance or Annuity; Prohibitions; Authority to Purchase and Hold Life Insurance

28-6.1-6-15. Acting as Attorney

28-6.1-6-16. Receiving Personal Property for Deposit

28-6.1-6-17. Acting Under Court Appointment

28-6.1-6-18. Acting in Probate

28-6.1-6-19. Acting as Guardian, Trustee, or Personal Representative

28-6.1-6-20. Taking, Accepting, and Executing Trusts

28-6.1-6-21. Acting in Fiduciary Capacity

28-6.1-6-22. Receiving Fees, Commissions, Gifts, and Things of Value

28-6.1-6-22.5. Profit or Commission on Sales or Purchases; Necessity of Specific Authorization; Surcharge

28-6.1-6-23. Requesting Mergers, Consolidations, and Joinings

28-6.1-6-24. Request to Exercise Rights and Privileges Granted to National Banks; Appeal

28-6.1-6-25. Requirement to Provide Property Tax Information in Certain Transactions

28-6.1-6-26. Authorization for Savings Banks to Use Fiduciary Funds in Conflict of Interest Transactions; Conditions; Notice; Required Consent