Indiana Code
Title 28. Financial Institutions
Article 6.1. Savings Banks

28-6.1-4-4.1. Indemnification of Directors; Application to Banks Formed Before January 1, 1993 - Sec. 4.1. (a) The provisions concerning indemnification of directors set...

Chapter 5. Fidelity Coverage for Savings Banks

28-6.1-5-1. Provision of Coverage - Sec. 1. A savings bank shall make provision for adequate...

28-6.1-5-2. Approval of Amount and Form of Coverage - Sec. 2. The amount and form of fidelity coverage must...

28-6.1-5-3. Form of Coverage - Sec. 3. Fidelity coverage may be provided in either of...

Chapter 6. General Powers of a Savings Bank

28-6.1-6-1. Discounting, Negotiating, Selling, and Guaranteeing Evidences of Debt - Sec. 1. A savings bank may discount, negotiate, sell, and...

28-6.1-6-2. Buying and Selling Exchange, Coin, and Bullion - Sec. 2. A savings bank may buy and sell exchange,...

28-6.1-6-3. Loaning Money; Engaging in Tax Equity Finance Transactions - Sec. 3. (a) A savings bank may loan money. (b)...

28-6.1-6-4. Borrowing Money - Sec. 4. A savings bank may borrow money and do...

28-6.1-6-5. Receiving Savings and Demand Deposits - Sec. 5. (a) A savings bank may receive savings deposits...

28-6.1-6-6. Receiving Deposits of Securities and Personal Property - Sec. 6. A savings bank may receive deposits of securities...

28-6.1-6-7. Contracting for and Receiving Highest Rate of Interest - Sec. 7. A savings bank may contract for and receive...

28-6.1-6-8. Accepting Drafts for Future Payment; Issuing Letters of Credit - Sec. 8. A savings bank may accept for future payment...

28-6.1-6-9. Exercising General Banking Powers; Issuing Money - Sec. 9. A savings bank may exercise all the powers...

28-6.1-6-10. Receiving Deposits of State and Federal Public Funds - Sec. 10. (a) A savings bank may receive deposits of...

28-6.1-6-11. Acting as Fiscal or Transfer Agent of Government Bodies - Sec. 11. A savings bank may act as a fiscal...

28-6.1-6-12. Transferring, Registering, and Countersigning Certificates of Stock, Bonds, and Other Evidences of Indebtedness - Sec. 12. A savings bank may transfer, register, and countersign...

28-6.1-6-13. Acting as Agent to Buy and Sell Transportation - Sec. 13. A savings bank may act as an agent...

28-6.1-6-14. Soliciting and Writing Insurance; Acting as Insurance Producer for Life Insurance or Annuity; Prohibitions; Authority to Purchase and Hold Life Insurance - Sec. 14. (a) A savings bank may solicit and write...

28-6.1-6-15. Acting as Attorney - Sec. 15. A savings bank may act as an attorney...

28-6.1-6-16. Receiving Personal Property for Deposit - Sec. 16. (a) A savings bank may do the following:...

28-6.1-6-17. Acting Under Court Appointment - Sec. 17. A savings bank may act under court appointment...

28-6.1-6-18. Acting in Probate - Sec. 18. (a) A savings bank may do any of...

28-6.1-6-19. Acting as Guardian, Trustee, or Personal Representative - Sec. 19. (a) A savings bank may act under court...

28-6.1-6-20. Taking, Accepting, and Executing Trusts - Sec. 20. A savings bank may do any of the...

28-6.1-6-21. Acting in Fiduciary Capacity - Sec. 21. (a) Except as otherwise provided in this article,...

28-6.1-6-22. Receiving Fees, Commissions, Gifts, and Things of Value - Sec. 22. Except as otherwise provided by law, an officer,...

28-6.1-6-22.5. Profit or Commission on Sales or Purchases; Necessity of Specific Authorization; Surcharge - Sec. 22.5. (a) Except for interest at the legal rate...

28-6.1-6-23. Requesting Mergers, Consolidations, and Joinings - Sec. 23. Notwithstanding any other provision of this article, a...

28-6.1-6-24. Request to Exercise Rights and Privileges Granted to National Banks; Appeal - Sec. 24. (a) As used in this section, "rights and...

28-6.1-6-25. Requirement to Provide Property Tax Information in Certain Transactions - Sec. 25. With respect to a residential real property financing...

28-6.1-6-26. Authorization for Savings Banks to Use Fiduciary Funds in Conflict of Interest Transactions; Conditions; Notice; Required Consent - Sec. 26. (a) Unless otherwise provided in an agreement or...

Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department

28-6.1-7-1. Application of Rules - Sec. 1. (a) The powers of a savings bank set...

28-6.1-7-2. Making Fha Loans, Advances of Credit, and Purchases of Obligations - Sec. 2. (a) A savings bank may make loans and...

28-6.1-7-3. Making Fha Loans Secured by Mortgages - Sec. 3. (a) A savings bank may make loans secured...

28-6.1-7-4. Purchasing, Investing In, and Disposing of Fha and National Mortgage Association Bonds, Notes, and Debentures - Sec. 4. (a) A savings bank may purchase, invest in,...

28-6.1-7-5. Extending Credit to State Agencies - Sec. 5. (a) A savings bank may extend credit to...

28-6.1-7-6. Purchasing, Taking, Holding, and Disposing of Incorporated Joint Stock Land Bank Notes and Mortgages - Sec. 6. (a) A savings bank may purchase, take, hold,...

28-6.1-7-7. Owning and Leasing Property - Sec. 7. Subject to any restrictions the department may impose,...

28-6.1-7-8. Purchasing and Constructing Buildings to Be Leased to Public Authorities - Sec. 8. (a) A savings bank may purchase or construct...

28-6.1-7-9. Purchasing, Holding, and Conveying Real Property to Be Used as Branch Savings Bank and Rental Property; Resolution - Sec. 9. (a) Subject to the prior written approval of...

28-6.1-7-10. Repealed - As added by P.L.42-1993, SEC.72. Repealed by P.L.215-1999, SEC.16.

28-6.1-7-11. Equity Investments in Community Development Corporations and Community Based Economic Development; Limits; Exceptions to Limits; Exposure to Liability - Sec. 11. (a) As used in this section, "community based...

28-6.1-7-12. Purchasing, Holding, and Conveying Real Estate Necessary for Transaction of Business - Sec. 12. (a) A savings bank may purchase, hold, and...

28-6.1-7-13. Paying Interest and Expenses - Sec. 13. A savings bank may not pay: (1) interest...

Chapter 8. Investment and Loan Powers of Savings Banks

28-6.1-8-1. Application of Article - Sec. 1. A savings bank may invest the money in...

28-6.1-8-2. Making, Arranging, Purchasing, and Selling Real Estate Loans and Extensions of Credit - Sec. 2. A savings bank may make, arrange, purchase, or...

28-6.1-8-3. Making Fha Loans, Advances of Credit, and Purchases of Obligations - Sec. 3. (a) Subject to rules of the department, a...

28-6.1-8-4. Lending Deposited Money - Sec. 4. (a) A savings bank may do the following:...

28-6.1-8-5. Investing in Real Estate - Sec. 5. A savings bank may invest in real estate...

28-6.1-8-6. Investing in Dealings in Exchange - Sec. 6. (a) Subject to subsection (b), a savings bank...

28-6.1-8-7. Becoming Federal Reserve System Member and Exercising Conferred Powers - Sec. 7. A savings bank may do any of the...

28-6.1-8-8. Exercising Powers Relating to Federal Home Loan Banks and Corporations - Sec. 8. Subject to any limitations imposed by the department...

28-6.1-8-9. Investing in and Selling Shares of Open-End Investment Companies - Sec. 9. A savings bank may invest the money deposited...

28-6.1-8-10. Depositing Funds; Permissible Institutions and Accounts - Sec. 10. A savings bank may deposit its funds in:...

Chapter 9. Lending Limitations of Savings Banks

28-6.1-9-1. "Capital and Surplus" and "Unimpaired Capital and Surplus" Defined - Sec. 1. As used in this chapter, "capital and surplus"...

28-6.1-9-2. Loans and Extensions of Credit - Sec. 2. As used in this chapter, "loans and extensions...

28-6.1-9-3. Person - Sec. 3. As used in this chapter, "person" includes an...

28-6.1-9-4. Repealed - As added by P.L.42-1993, SEC.72. Repealed by P.L.176-1996, SEC.35.

28-6.1-9-5. Limits on Total Loans and Extensions of Credit to One Borrower; Loans and Extensions Not Fully Secured; Loans and Extensions Fully Secured; Derivative Transactions - Sec. 5. (a) The total loans and extensions of credit...

28-6.1-9-6. Exceptions to Lending Limitations - Sec. 6. The limitations contained in section 5 of this...

28-6.1-9-7. Loan Limitations for Commercial Paper Carrying Full Recourse Endorsements or Unconditional Guarantees - Sec. 7. (a) Loans and extensions of credit arising from...

28-6.1-9-8. Special Limits for Obligations Secured by Livestock or Dairy Cattle - Sec. 8. (a) Loans and extensions of credit secured by...

28-6.1-9-9. Extensions of Credit to Officers, Directors, Trustees, and Principal Shareholders - Sec. 9. A savings bank may extend credit to an...

28-6.1-9-10. Loans or Discounts on Security and Purchase or Holding of Bank's Own Capital Stock - Sec. 10. (a) A stock savings bank may not: (1)...

28-6.1-9-11. Conformity With Lending Limitations; Sanctions - Sec. 11. (a) Except as otherwise provided in this article,...

28-6.1-9-12. Exception to Limitations for Student Loan Marketing Association Loans and Extensions of Credit - Sec. 12. Loans or extensions of credit to the Student...

28-6.1-9-13. Repealed - As added by P.L.42-1993, SEC.72. Repealed by P.L.27-2012, SEC.87.

28-6.1-9-14. Application of Federal Regulations - Sec. 14. The department may apply the provisions of 12...

28-6.1-9-15. Receiving Fees, Commissions, Gifts, or Things of Value; Violation - Sec. 15. Except as otherwise provided, an officer, a director,...

Chapter 10. Savings Banks Dealing in Investment Securities

28-6.1-10-1. Application of Limitations - Sec. 1. The limitations imposed by this chapter do not...

28-6.1-10-2. Total Equity Capital - Sec. 2. As used in this section, "total equity capital"...

28-6.1-10-3. Dealing Requirements - Sec. 3. Except as otherwise provided in this article, a...

28-6.1-10-4. Dealings for Bank's Own Account - Sec. 4. Except as otherwise provided in this article, a...

28-6.1-10-5. Underwriting or Guaranteeing Issues of Securities - Sec. 5. A savings bank may not underwrite or guarantee...

28-6.1-10-6. Purchase and Sale of Investment Securities for Bank's Own Account Under Department Rules; Limitation on Investment Securities - Sec. 6. (a) Subject to subsection (b), a savings bank...

28-6.1-10-7. Purchase and Sale of Government Chartered Small Business Investment Company Stock - Sec. 7. A savings bank may purchase for its own...

28-6.1-10-8. Purchase and Sale of Collateralized Mortgage Obligations - Sec. 8. (a) Subject to subsection (b), a savings bank...

28-6.1-10-8.5. Purchase of Speculative Securities or Securities Not Rated by a Generally Recognized Security Rating Service - Sec. 8.5. (a) A savings bank may not purchase for...

28-6.1-10-9. Purchase and Sale of Nonsubsidiary Corporation Stock - Sec. 9. (a) Except as otherwise provided by law, a...

28-6.1-10-10. Purchase and Holding of Banker's Bank Stock - Sec. 10. (a) As used in this section, "bank" has...

28-6.1-10-11. Investments in Casualty Insurance Companies - Sec. 11. (a) Notwithstanding any other provision of this article,...

28-6.1-10-12. Establishment and Acquisition of Subsidiaries - Sec. 12. A savings bank may establish or acquire a...

28-6.1-10-13. Establishment of Trading Accounts - Sec. 13. A savings bank may establish a trading account...

28-6.1-10-14. Definition of Investment Securities - Sec. 14. The department may define an investment security by...

28-6.1-10-15. Purchase Records - Sec. 15. A savings bank that purchases a security for...

Chapter 11. Real Property Holdings by Savings Banks

28-6.1-11-1. Application of Chapter - Sec. 1. A savings bank may purchase and sell real...

28-6.1-11-2. Purchase, Holding, and Conveyance of Real Property - Sec. 2. (a) A savings bank may purchase, hold, and...

28-6.1-11-3. Limitation on Investments; Investments in Holding Corporations - Sec. 3. (a) Except with the approval of the department,...

Chapter 12. Branches of Savings Banks

28-6.1-12-1. Application of Definitions - Sec. 1. Except as otherwise provided in this chapter, the...

28-6.1-12-2. Bank - Sec. 2. (a) As used in this chapter, "bank" means...

28-6.1-12-3. Branches De Novo and Branches by Acquisition; Approval of Department Required; Application; Approval or Disapproval by Department; Location; Savings Banks Organized or Operating Before January 1, 1993; Exemption From Approval Requirement... - Sec. 3. (a) Subject to this section, a savings bank...

28-6.1-12-4. Establishment of Branches by Acquisition - Sec. 4. A branch by acquisition under this chapter involving...

28-6.1-12-5. Automated Teller Machines - Sec. 5. (a) A savings bank is entitled to open...

28-6.1-12-6. Failure to Comply With Chapter - Sec. 6. A person who fails to comply with this...

28-6.1-12-7. Actions Against Savings Banks - Sec. 7. (a) A person, company, bank, or bank holding...

28-6.1-12-8. Rules - Sec. 8. The department may adopt rules under IC 4-22-2...

Chapter 13. Statement of Condition

28-6.1-13-1. Number of Statements Required - Sec. 1. The department may require every savings bank to...

28-6.1-13-2. Designation of Forms, Notice, and Dates - Sec. 2. The statements of condition shall be verified and...

28-6.1-13-3. Contents of Statements - Sec. 3. (a) The following items shall be shown in...

28-6.1-13-4. Publication of Statements - Sec. 4. (a) A savings bank shall, when required by...

28-6.1-13-5. Provision of Examination Copies and Information to Federal Entities - Sec. 5. (a) This section applies only to a statement...

28-6.1-13-6. Civil Penalties - Sec. 6. (a) A savings bank that does any of...

Chapter 14. Conversion of a Stock Savings Bank to a State Bank or to a Savings and Loan Association

28-6.1-14-1. Application of Chapter - Sec. 1. This chapter applies only to a stock savings...

28-6.1-14-2. Conversion; Approval of Department - Sec. 2. A stock savings bank may convert into a...

28-6.1-14-3. Conversion Procedure - Sec. 3. The department shall prescribe the procedure for conversion...

28-6.1-14-4. Articles of Conversion - Sec. 4. (a) To effect the conversion, the converting savings...

28-6.1-14-5. Rights and Obligations Upon Conversion - Sec. 5. Upon conversion, the new state bank or new...

Chapter 15. Conversion of a Savings Bank to a Bank or Trust

28-6.1-15-1. Application of Chapter - Sec. 1. This chapter applies only to a savings bank...

28-6.1-15-2. Effective Date of Conversion - Sec. 2. As used in this chapter, "effective date of...

28-6.1-15-3. Conversion Permitted - Sec. 3. A savings bank may convert into a state...

28-6.1-15-4. Resolutions of Conversion - Sec. 4. (a) A conversion of a savings bank under...

28-6.1-15-5. Terms and Conditions of Conversions; Rights of Depositors - Sec. 5. The terms and conditions of conversion and the...

28-6.1-15-6. Approval or Disapproval of Resolutions of Conversion by Department - Sec. 6. (a) The department shall approve or disapprove the...

28-6.1-15-7. Notice to Depositors; Objections; Judicial Review - Sec. 7. (a) After the department has given approval to...

28-6.1-15-8. Approval of Articles of Incorporation by Secretary of State - Sec. 8. (a) If the conversion is approved under section...

28-6.1-15-9. Prerequisites to Doing Business - Sec. 9. (a) Except as is incidental to its conversion...

28-6.1-15-10. Effect of Conversions - Sec. 10. (a) On the effective date of conversion, the...

28-6.1-15-11. Continued Service of Boards - Sec. 11. The board of the savings bank shall serve...

28-6.1-15-12. Conformation to Limitations - Sec. 12. (a) Subject to subsection (b), a bank or...

28-6.1-15-13. Powers and Duties of Department - Sec. 13. This chapter does not limit the powers or...

Chapter 16. Conversion of a Savings Bank to a Savings and Loan Association

28-6.1-16-1. Application of Chapter - Sec. 1. This chapter applies only to the following: (1)...

28-6.1-16-2. Department Approval of Conversion to Savings Association - Sec. 2. (a) With the approval of the department, a...

28-6.1-16-3. Conversion Procedure - Sec. 3. The department shall prescribe the procedure for conversion...

28-6.1-16-4. Rights and Obligations Upon Conversion - Sec. 4. Upon conversion, the new savings association has all...

Chapter 17. Department Seizure of Business and Property of a Savings Bank

28-6.1-17-1. Grounds for Seizure of Business and Property - Sec. 1. The department may take possession of the business...

28-6.1-17-2. Law Governing Procedure and Parties - Sec. 2. IC 28-1-3.1 governs the following: (1) The authority...

Chapter 18. Liquidation and Dissolution of a Savings Bank Organized, Reorganized, or Operating Before January 1, 1993

28-6.1-18-1. Application of Chapter - Sec. 1. This chapter applies only to a savings bank...

28-6.1-18-2. Dissolutions; Determinations of Boards - Sec. 2. A savings bank may dissolve itself under this...

28-6.1-18-3. Resolutions of Dissolution - Sec. 3. (a) To dissolve a savings bank, the board...

28-6.1-18-4. Liquidation Orders; Employment of Necessary Personnel - Sec. 4. (a) If the department receives a statement under...

28-6.1-18-5. Civil Actions; Filing - Sec. 5. (a) Not later than five (5) days after...

28-6.1-18-6. Jurisdiction of Courts - Sec. 6. After the filing of the action under section...

28-6.1-18-7. Taking Charge of Business and Assets by Department; Notice of Departmental Actions - Sec. 7. The department shall do the following: (1) Immediately...

28-6.1-18-8. Petitions Opposing Liquidation and Dissolution - Sec. 8. (a) A depositor or other creditor of the...

28-6.1-18-9. Dismissal of Liquidation and Dissolution Actions - Sec. 9. (a) If after hearing the matter, the court...

28-6.1-18-10. Approval of Liquidation and Dissolution Proceedings - Sec. 10. If after hearing the matter, the court determines...

28-6.1-18-11. Finality of Judicial Decisions - Sec. 11. The decision of the court under section 9...

28-6.1-18-12. Powers and Restrictions of Department - Sec. 12. (a) During the ten (10) day period after...

28-6.1-18-13. Completion of Liquidation - Sec. 13. (a) When the costs and expenses of the...

28-6.1-18-14. Statements of Dissolution - Sec. 14. (a) Upon completion of the liquidation, the department...

28-6.1-18-15. Termination of Savings Bank's Existence - Sec. 15. When the statement required by section 14 of...

Chapter 19. Disposition of Substantially All the Assets of a Savings Bank Organized Before July 1, 1993

28-6.1-19-1. Application of Chapter - Sec. 1. This chapter applies only to a savings bank...

28-6.1-19-2. Disposition - Sec. 2. As used in this chapter, "disposition" includes a...

28-6.1-19-3. Disposition of Property and Assets - Sec. 3. A savings bank may, at any time if...

28-6.1-19-4. Resolutions of Disposition - Sec. 4. (a) A disposition under this chapter must be...

28-6.1-19-5. Departmental Approval - Sec. 5. (a) Upon receiving a notice under section 4...

28-6.1-19-6. Judicial Approval - Sec. 6. (a) If the department approves the disposition under...

28-6.1-19-7. Copies of Dissolution Resolutions - Sec. 7. If the court approves the disposition under section...

28-6.1-19-8. Court Approval Prerequisite to Dissolution - Sec. 8. The disposition may not take place until the...

28-6.1-19-9. Notice of Dispositions - Sec. 9. If the court approves the disposition, the savings...

28-6.1-19-10. Statements of Objections - Sec. 10. (a) A person interested in the disposition (including...

28-6.1-19-11. Hearings on Objections - Sec. 11. (a) If a statement is filed under section...

28-6.1-19-12. Orders Directing Dispositions - Sec. 12. If the court finds that the disposition, as...

28-6.1-19-13. Orders Enjoining Dispositions - Sec. 13. If the court finds that the disposition proposed...

28-6.1-19-14. Finality of Judicial Decisions - Sec. 14. A decision of the court under section 12...

Chapter 20. Applicability of the Federal Reserve Act

28-6.1-20-1. Applicability - Sec. 1. For purposes of this article, a savings bank...

28-6.1-20-2. Violations - Sec. 2. A violation of Section 23A or 23B of...

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Indiana Code Title 28. Financial Institutions Article 6.1. Savings Banks

Indiana Code
Title 28. Financial Institutions
Article 6.1. Savings Banks