Ind. Code § 28-13-4-7 — Indiana Code / Title 28 / Article 13 / Chapter 4 / Section 28-13-4-7
Protective order for increase of capital and surplus or reduction of deposits; time period for compliance; increase in capital by corporate fiduciary
Status: in_force

Sec. 7. (a) The department may, if the department considers it necessary for the protection of the depositors, require any bank or trust company, savings bank, or savings association to increase the capital and surplus or to reduce the amount of the deposits of the bank or trust company, savings bank, or savings association. The department shall, in arriving at a decision whether to order a bank or trust company, savings bank, or savings association to increase the capital and surplus or reduce the amount of the deposits for the protection of the depositors of the bank or trust company, savings bank, or savings association, take into consideration the following:

(1) Quality of management.

(2) Liquidity of assets.

(3) History of earnings and the retention of earnings.

(4) Quality and character of ownership.

(5) Burden of occupancy expenses.

(6) Potential volatility of deposit structure.

(7) Quality of operating procedures.

(8) Capacity to meet present and future needs of the area served, considering its competition.

(b) If the department determines that an increase in the capital and surplus or decrease in the deposits is necessary, the department shall enter an order fixing the amount of the increase or decrease. The order shall be complied with within the time period fixed by the order.

(c) The department may require a corporate fiduciary to increase its capital. In deciding whether to order a corporate fiduciary to increase its capital, the department shall take into consideration the following:

(1) Quality of management.

(2) Liquidity of assets.

(3) History of earnings and the retention of earnings.

(4) Quality and character of ownership.

(5) Burden of occupancy expenses.

(6) Quality of operating procedures.

(7) Ability to administer fiduciary accounts in a prudent manner consistent with applicable laws or regulations.

(d) If the department determines that an increase in capital under subsection (c) is necessary, the department shall enter an order fixing the amount of the increase. The order must be complied with within the period fixed by the order.

As added by P.L.14-1992, SEC.163. Amended by P.L.262-1995, SEC.88; P.L.258-2003, SEC.28; P.L.213-2007, SEC.103; P.L.217-2007, SEC.101.
Ind. Code § 28-8-1-1.5 — Indiana Code / Title 28 / Article 8 / Chapter 1 / Section 28-8-1-1.5
Investment in corporation by bank or trust company authorized
Status: in_force

Sec. 1.5. Notwithstanding any limitation or prohibition otherwise imposed by any provision of the laws of this state, any bank or trust company may invest in a bank service corporation upon the same terms and conditions as are provided by Section 709 of the Garn-St. Germain Depository Institutions Act of 1982 (Public Law 97-320; 96 Stat. 1469) for federally insured banks, and any such bank service corporation may perform the same functions, subject to the same limitations and restrictions, as are prescribed by the Garn-St. Germain Depository Institutions Act of 1982.

As added by P.L.267-1983, SEC.2.
Ind. Code § 28-6.1-5-1 — Indiana Code / Title 28 / Article 6.1 / Chapter 5 / Section 28-6.1-5-1
Provision of coverage
Status: in_force

Sec. 1. A savings bank shall make provision for adequate fidelity coverage for all officers and employees having access to money or bonds of the savings bank.

As added by P.L.42-1993, SEC.72.
Ind. Code § 28-1-32-9 — Indiana Code / Title 28 / Article 1 / Chapter 32 / Section 28-1-32-9
Department approval of conversion
Status: in_force

Sec. 9. (a) The department may approve or disapprove a conversion plan filed under section 8 of this chapter.

(b) The department is not required to hold a hearing on the conversion plan.

(c) Solicitation of the votes of voting parties may occur before the savings association receives the department's approval of the conversion plan.

As added by P.L.1-2006, SEC.491.
Ind. Code § 28-2-18-13 — Indiana Code / Title 28 / Article 2 / Chapter 18 / Section 28-2-18-13
"Home state regulator" defined
Status: in_force

Sec. 13. As used in this chapter, "home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which such bank is organized or reorganized.

As added by P.L.171-1996, SEC.37.
Ind. Code § 28-8-5-18.2 — Indiana Code / Title 28 / Article 8 / Chapter 5 / Section 28-8-5-18.2
Carrying on other business
Status: in_force

Sec. 18.2. A licensee may carry on other business at a location where the licensee conducts the business of cashing checks unless the licensee carries on other business for the purpose of evasion or violation of this chapter.

As added by P.L.159-2017, SEC.50.
Ind. Code § 28-1-21.6-13 — Indiana Code / Title 28 / Article 1 / Chapter 21.6 / Section 28-1-21.6-13
Retention of branches
Status: in_force

Sec. 13. Notwithstanding IC 28-2-13, a commercial bank created by charter conversion may retain all branches lawfully established.

As added by P.L.147-1990, SEC.2. Amended by P.L.42-1993, SEC.38.
Ind. Code § 28-15-8-1 — Indiana Code / Title 28 / Article 15 / Chapter 8 / Section 28-15-8-1
Transactions regarding interests in certain loans
Status: in_force

Sec. 1. A savings association may make, buy, sell, or hold interests in the following loans:

(1) Mobile home loans.

(2) Real estate mortgage loans on real property or leasehold improvements insured or guaranteed by any state of the United States, the United States government, or any of the agencies or government sponsored enterprises of the United States government.

(3) Loans for construction and development of residential or commercial property.

(4) Secured or unsecured consumer loans or leases.

(5) Secured or unsecured commercial loans or leases.

(6) Education loans.

As added by P.L.193-1997, SEC.2.
Ind. Code § 28-1-7.5-9 — Indiana Code / Title 28 / Article 1 / Chapter 7.5 / Section 28-1-7.5-9
Articles of exchange; requisites; filing; certificate of exchange; issuance; effectiveness of plan
Status: in_force

Sec. 9. (a) After the plan of exchange is approved by shareholders of the bank, trust company, corporate fiduciary, or stock savings bank and, if required, by the shareholders of the holding company, and unless the plan of exchange is subsequently abandoned, the bank, trust company, corporate fiduciary, or stock savings bank and the holding company shall prepare articles of exchange setting forth:

(1) the plan of exchange;

(2) the manner of the approval of the plan by the directors of the holding company and the bank, trust company, corporate fiduciary, or stock savings bank;

(3) the manner of its adoption and the vote by which adopted by the shareholders; and

(4) the fact that the plan of exchange has been approved by the department.

(b) The articles of exchange shall be signed under oath on behalf of each corporation. The articles of exchange shall be filed with the department. The department shall, if it approves the articles of exchange, endorse its approval on all copies and file them with the secretary of state. The secretary of state shall endorse the approval of the secretary of state on each of the copies and keep one (1) copy of the articles of exchange, issue a certificate of exchange, and deliver the remaining copies to the holding company.

(c) The plan of exchange becomes effective upon the issuance of the certificate of exchange by the secretary of state, unless a later date is specified.

As added by P.L.238-1983, SEC.10. Amended by P.L.122-1994, SEC.68; P.L.262-1995, SEC.21.
Ind. Code § 28-2-13-23 — Indiana Code / Title 28 / Article 2 / Chapter 13 / Section 28-2-13-23
Failure to comply; Class A infraction; violation of chapter; injunctions, costs, and fees; powers of department
Status: in_force

Sec. 23. A person who fails to comply with this chapter commits a Class A infraction. Any person, company, bank, or bank holding company that may be or has been injured by reason of any conduct that constitutes or will constitute a violation of this chapter by any bank may sue the bank to enjoin the conduct or for damages, together with the costs of suit, including reasonable attorney's fees. In addition to the powers of the department under IC 28-11-4, the department may sue to enjoin any conduct that constitutes or will constitute a violation of this chapter or to require divestiture of any bank acquired or branch established in violation of this chapter.

As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.27.
Ind. Code § 28-10-2-12 — Indiana Code / Title 28 / Article 10 / Chapter 2 / Section 28-10-2-12
"Recommended benchmark replacement"
Status: in_force

Sec. 12. As used in this chapter, "recommended benchmark replacement", with respect to a particular type of contract, security, or instrument, means a benchmark replacement based on SOFR, including any recommended spread adjustment and any benchmark replacement conforming changes, that is selected or recommended by a relevant recommending body with respect to the type of contract, security, or instrument.

As added by P.L.67-2022, SEC.1.
Ind. Code § 28-1-21.6-10 — Indiana Code / Title 28 / Article 1 / Chapter 21.6 / Section 28-1-21.6-10
Approval or disapproval of conversion plan; requirements
Status: in_force

Sec. 10. (a) The department may approve or disapprove the plan of charter conversion filed under section 9 of this chapter.

(b) Solicitation of the votes of voting parties may occur before receipt of the approval of the department.

(c) The department may not approve the plan of charter conversion unless the department finds, after appropriate investigation or examination, and without the requirement of a public hearing, that the following requirements have been fulfilled:

(1) That the resulting commercial bank will operate in a safe, sound, and prudent manner.

(2) That the proposed charter conversion will not result in a commercial bank that has inadequate capital, unsatisfactory management, or poor earnings prospects.

(3) That the management or other principals of the savings association are qualified by character and financial responsibility to control and operate in a legal and proper manner the commercial bank proposed to be formed as a result of the charter conversion.

(4) That the interests of the depositors, the creditors, and the public generally will not be jeopardized by the proposed charter conversion.

As added by P.L.147-1990, SEC.2.
Ind. Code § 28-13-6-5 — Indiana Code / Title 28 / Article 13 / Chapter 6 / Section 28-13-6-5
Acceptance or rejection of vote, consent, waiver, or proxy appointment; validity of signature
Status: in_force

Sec. 5. (a) If the name signed on a vote, consent, waiver, or proxy appointment corresponds to the name of a shareholder, the corporation if acting in good faith is entitled to accept the vote, consent, waiver, or proxy appointment and give it effect as the act of the shareholder.

(b) If the name signed on a vote, consent, waiver, or proxy appointment does not correspond to the name of the corporation's shareholder, the corporation if acting in good faith is nevertheless entitled to accept the vote, consent, waiver, or proxy appointment and give it effect as the act of the shareholder if any of the following are met:

(1) The shareholder is an entity and the name signed purports to be that of an officer or agent of the entity.

(2) The name signed purports to be that of an administrator, executor, guardian, or conservator representing the shareholder and, if the corporation requests, evidence of fiduciary status acceptable to the corporation has been presented with respect to the vote, consent, waiver, or proxy appointment.

(3) The name signed purports to be that of a receiver or trustee in bankruptcy of the shareholder and, if the corporation requests, evidence of this status acceptable to the corporation has been presented with respect to the vote, consent, waiver, or proxy appointment.

(4) The name signed purports to be that of a pledgee, a beneficial owner, or an attorney-in-fact of the shareholder and, if the corporation requests, evidence acceptable to the corporation of the signatory's authority to sign for the shareholder has been presented with respect to the vote, consent, waiver, or proxy appointment.

(5) Two (2) or more persons are the shareholder as cotenants or fiduciaries and the name signed purports to be the name of at least one (1) of the co-owners and the person signing appears to be acting on behalf of all the co-owners.

(c) The corporation is entitled to reject a vote, consent, waiver, or proxy appointment if the secretary or other officer or agent authorized to tabulate votes, acting in good faith, has reasonable basis for doubt about the validity of the signature on the vote, consent, waiver, or proxy appointment or about the signatory's authority to sign for the shareholder.

(d) The corporation and the corporation's officer or agent who accepts or rejects a vote, consent, waiver, or proxy appointment in accordance with the standards of this section are not liable in damages to the shareholder for the consequences of the acceptance or rejection.

(e) Corporate action based on the acceptance or rejection of a vote, consent, waiver, or proxy appointment under this section is valid unless a court of competent jurisdiction determines otherwise.

As added by P.L.14-1992, SEC.163.
Ind. Code § 28-1-12-7 — Indiana Code / Title 28 / Article 1 / Chapter 12 / Section 28-1-12-7
Violations
Status: in_force

Sec. 7. A person who violates this chapter commits a Class B infraction. In addition, if the person is an officer of any bank or trust company, he is subject to removal from office in the manner prescribed in IC 28-11-4.

Formerly: Acts 1933, c.40, s.194; Acts 1937, c.33, s.27. As amended by Acts 1978, P.L.2, SEC.2807; P.L.33-1991, SEC.15.
Ind. Code § 28-6.2-2-5 — Indiana Code / Title 28 / Article 6.2 / Chapter 2 / Section 28-6.2-2-5
Requirements for approval of reorganization plan application
Status: in_force

Sec. 5. (a) The department may not approve an application for a mutual holding company reorganization unless the department finds, after an appropriate investigation or examination, that the following requirements have been satisfied:

(1) That the reorganizing savings bank and any acquiree savings bank will operate in a safe, sound, and prudent manner.

(2) That the proposed reorganization will not result in a reorganizing savings bank or any acquiree savings bank that has inadequate capital, unsatisfactory management, or poor earnings prospects.

(3) That the management or other principals of the mutual holding company are qualified by character and financial responsibility to control and operate in a legal and proper manner the mutual holding company that would result from the execution of the reorganization plan.

(4) That the interests of the depositors and creditors and of the public in general will not be jeopardized by the proposed reorganization of the savings bank into a mutual holding company.

(b) The department may conduct a public hearing to determine if the requirements of this section have been satisfied.

As added by P.L.122-1994, SEC.101.
Ind. Code § 28-14-7-3 — Indiana Code / Title 28 / Article 14 / Chapter 7 / Section 28-14-7-3
Violations; penalties
Status: in_force

Sec. 3. (a) A corporate fiduciary that:

(1) fails to prepare and submit a statement of condition required by the department under section 2 of this chapter; or

(2) violates any order of the department with respect to a statement of condition required by the department under section 2 of this chapter;

is subject to a civil penalty of one hundred dollars ($100) for each day that elapses after the date fixed by the department for compliance with the notice concerning the statement of condition.

(b) A penalty paid under subsection (a) must be deposited in the financial institutions fund established by IC 28-11-2-9.

As added by P.L.262-1995, SEC.90.
Ind. Code § 28-13-13-6 — Indiana Code / Title 28 / Article 13 / Chapter 13 / Section 28-13-13-6
"Party" defined
Status: in_force

Sec. 6. As used in this chapter, "party" includes an individual who was, is, or is threatened to be made a named defendant or respondent in a proceeding.

As added by P.L.14-1992, SEC.163.