Indiana Code
Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department
28-6.1-7-13. Paying Interest and Expenses

Sec. 13. A savings bank may not pay:
(1) interest contracted for with a depositor; or
(2) other expenses incurred in operating the business of the savings bank;
except from current earnings or undivided profits without the approval of the department.
As added by P.L.42-1993, SEC.72.

<< Previous

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 6.1. Savings Banks

Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department

28-6.1-7-1. Application of Rules

28-6.1-7-2. Making Fha Loans, Advances of Credit, and Purchases of Obligations

28-6.1-7-3. Making Fha Loans Secured by Mortgages

28-6.1-7-4. Purchasing, Investing In, and Disposing of Fha and National Mortgage Association Bonds, Notes, and Debentures

28-6.1-7-5. Extending Credit to State Agencies

28-6.1-7-6. Purchasing, Taking, Holding, and Disposing of Incorporated Joint Stock Land Bank Notes and Mortgages

28-6.1-7-7. Owning and Leasing Property

28-6.1-7-8. Purchasing and Constructing Buildings to Be Leased to Public Authorities

28-6.1-7-9. Purchasing, Holding, and Conveying Real Property to Be Used as Branch Savings Bank and Rental Property; Resolution

28-6.1-7-10. Repealed

28-6.1-7-11. Equity Investments in Community Development Corporations and Community Based Economic Development; Limits; Exceptions to Limits; Exposure to Liability

28-6.1-7-12. Purchasing, Holding, and Conveying Real Estate Necessary for Transaction of Business

28-6.1-7-13. Paying Interest and Expenses