Sec. 8. (a) A savings bank may purchase or construct buildings and hold legal title to a building to be leased to a municipal corporation or other public authority, for public purposes, having resources sufficient to make payment of all rentals as the payments become due.
(b) A lease agreement shall provide that upon expiration, the lessee will become the owner of the building.
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