Sec. 2. All property of the bank is exempt from levy and sale by virtue of an execution and no execution or other judicial process may issue against the property. A judgment against the bank may not be a charge or lien upon its property. However, nothing in this section applies to or limits the rights of the holder of bonds or notes to pursue a remedy for the enforcement of a pledge or lien given by the bank on its revenues or other money.
As added by P.L.42-1985, SEC.1.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.4. Local Public Improvement Bond Banks
Chapter 9. Miscellaneous Provisions
5-1.4-9-1. Limitation of Actions
5-1.4-9-3. Pledge of Revenues or Money
5-1.4-9-4. Insurance or Guaranty for Payment
5-1.4-9-5. Authority to Receive Appropriations or Grants From Federal Government; Disposition
5-1.4-9-6. Undertaking by Financial Institution to Keep and Pay Over Funds Deposited With It
5-1.4-9-8. Financial Institutions and Fiduciaries; Investment in Bonds or Notes
5-1.4-9-9. Nature of Bank Property; Bonds and Notes; Exemption From Taxation
5-1.4-9-10. Officers and Departments of State; Rendering of Services to Bank; Costs and Expenses
5-1.4-9-11. Dissolution of Bank; Assets and Property of Bank