Sec. 6. (a) Subject to subsection (b), a savings bank may invest in dealing in exchange by purchasing and selling sight or time drafts and acceptances payable out of Indiana.
(b) A draft or an acceptance may not:
(1) exceed ten thousand dollars ($10,000); or
(2) have to exceed one hundred twenty (120) days to run from the time of its purchase.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
Chapter 8. Investment and Loan Powers of Savings Banks
28-6.1-8-1. Application of Article
28-6.1-8-2. Making, Arranging, Purchasing, and Selling Real Estate Loans and Extensions of Credit
28-6.1-8-3. Making Fha Loans, Advances of Credit, and Purchases of Obligations
28-6.1-8-4. Lending Deposited Money
28-6.1-8-5. Investing in Real Estate
28-6.1-8-6. Investing in Dealings in Exchange
28-6.1-8-7. Becoming Federal Reserve System Member and Exercising Conferred Powers
28-6.1-8-8. Exercising Powers Relating to Federal Home Loan Banks and Corporations
28-6.1-8-9. Investing in and Selling Shares of Open-End Investment Companies
28-6.1-8-10. Depositing Funds; Permissible Institutions and Accounts