Sec. 5. A savings bank shall not offer or sell any stock to any person or corporation whose purchase would be financed by funds loaned to the person or corporation by the savings bank or any of its affiliates, unless that borrowing is approved by the department.
As added by P.L.122-1994, SEC.101.
Structure Indiana Code
Title 28. Financial Institutions
Article 6.2. Mutual Savings Bank Holding Companies
28-6.2-3-1. Written Approval Before Issuance; Criteria for Approval
28-6.2-3-2. Proposed Price of Stock
28-6.2-3-3. Representations Regarding Price of Stock
28-6.2-3-4. Stock Issuance Plan Requirements
28-6.2-3-5. Purchase of Stock Through Loaned Funds
28-6.2-3-6. Amendment or Termination of Stock Issuance Plan
28-6.2-3-7. Noncompleted Stock Issuance Plan; Termination; Extensions