Sec. 5. (a) A savings bank may extend credit to any state agency, with the approval of the department, notwithstanding any other provisions or limitations of IC 28-1.
(b) An Indiana law:
(1) prescribing the nature, amount, or form of security;
(2) requiring security upon which loans or advances of credit may be made;
(3) prescribing or limiting interest rates upon loans or advances of credit; or
(4) prescribing or limiting the period for which loans or advances of credit may be made;
does not apply to loans or advances of credit made under this section.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
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
28-6.1-7-5. Extending Credit to State Agencies
28-6.1-7-7. Owning and Leasing Property
28-6.1-7-8. Purchasing and Constructing Buildings to Be Leased to Public Authorities
28-6.1-7-12. Purchasing, Holding, and Conveying Real Estate Necessary for Transaction of Business