Indiana Code
Title 28. Financial Institutions
Article 5. Industrial Loan and Investment Companies

Chapter 1. Industrial Loan and Investment Act

28-5-1-1. Citation - Sec. 1. This chapter shall be known and may be...

28-5-1-2. Application of Chapter - Sec. 2. This chapter shall be applicable to all corporations...

28-5-1-3. Definitions; Department's Powers - Sec. 3. As used in this chapter and unless a...

28-5-1-4. Definitions; Certificate of Authority; Branches; Automated Teller Machines - Sec. 4. (a) As used in this section: "Automated teller...

28-5-1-5. Capital Requirements - Sec. 5. The capital stock of any company engaged in...

28-5-1-6. Corporate Powers - Sec. 6. (a) Every company may exercise all the powers...

28-5-1-6.3. Request to Exercise Rights and Privileges Granted to National Banks; Appeal - Sec. 6.3. (a) As used in this section, "rights and...

28-5-1-6.5. Sale of Annuity Contracts - Sec. 6.5. (a) Notwithstanding any other provision of this title,...

28-5-1-7. Repealed - Formerly: Acts 1935, c.181, s.7. Repealed by Acts 1971, P.L.366,...

28-5-1-8. Limitation of Total Obligation of Single Borrower; Exceptions; Loans to Officers, Agents, and Employees; Violation; Offense; Credit Exposure From Derivative Transactions - Sec. 8. (a) Except as otherwise provided in subsections (c),...

28-5-1-9. Mortgage Loans - Sec. 9. An industrial loan and investment company, hereinafter in...

28-5-1-10. Time for Existing Companies to Comply With Loan Limits - Sec. 10. Except as otherwise provided in this chapter, any...

28-5-1-11. Acquisition or Conveyance of Real Estate; Purposes - Sec. 11. (a) Any such company shall have the power...

28-5-1-12. Certificates of Indebtedness or Investment; Form; Payment; Withdrawals - Sec. 12. Any certificates of indebtedness or investment issued by...

28-5-1-13. Certificates of Indebtedness or Investment; Reserve Balance - Sec. 13. Every company issuing any such certificates of indebtedness...

28-5-1-14. Surplus Account; Dividends - Sec. 14. Every such company shall on June 30 and...

28-5-1-15. Authority of Department; Examination of Affiliates; Examination of Vendors - Sec. 15. (a) The department shall have charge of the...

28-5-1-16. Records Retention Policy - Sec. 16. (a) The board of directors shall develop a...

28-5-1-17. Rules and Regulations - Sec. 17. The department may by a majority vote of...

28-5-1-18. Fidelity Coverage for Officers and Employees; Bonds; Reserve Funds - Sec. 18. Every company shall make provision for adequate fidelity...

28-5-1-19. Exclusion From Banking Business; False Advertising; Desist Orders - Sec. 19. A company may not engage in the banking...

28-5-1-20. Repealed - Formerly: Acts 1935, c.181, s.20. As amended by Acts 1937,...

28-5-1-21. Elimination of Certificates of Indebtedness or Certificates of Investment, Deposits, or Savings Accounts - Sec. 21. Companies that do not have any certificates of...

28-5-1-22. Violations - Sec. 22. A person who violates a provision of this...

28-5-1-22.1. Prohibited Transactions - Sec. 22.1. An industrial loan and investment company is prohibited...

28-5-1-23. Taxation - Sec. 23. All industrial loan and investment companies subject to...

28-5-1-24. Repealed - Formerly: Acts 1935, c.181, s.22. Repealed by Acts 1978, P.L.2,...

28-5-1-25. Conversion Into State Bank, Trust Company, or Savings Association - Sec. 25. (a) Any industrial loan and investment company organized...

28-5-1-26. Requirement to Provide Property Tax Information in Certain Transactions - Sec. 26. With respect to a residential real property financing...

Chapter 2. Survivors─payment

28-5-2-1. Repealed - Formerly: Acts 1953, c.61, s.1. Repealed by Acts 1976, P.L.123,...

28-5-2-2. Payment After Death of Certificate Holder - Sec. 2. If any certificate holder of any industrial loan...

28-5-2-3. Laws Applicable - Sec. 3. Payment of the certificates as provided in sections...

Chapter 3. Minors

28-5-3-1. Purchase of Certificates of Investment or Indebtedness; No Age Restriction - Sec. 1. All persons, regardless of age, may become purchasers...

28-5-3-2. Loans; Misrepresenting Age; Estoppel by Representation - Sec. 2. When, in case of any loan made by...

28-5-3-3. Law Applicable - Sec. 3. Payment of certificates as provided in section 1...