reglab/housing_qa huggingface dataset:
IN Code § 28-1-11-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-6. Appointment as Fiduciary

Sec. 6. Any bank or trust company may be appointed and act under the order of appointment of any court of competent jurisdiction as commissioner for the sale of real estate, guardian of the person and estate of persons under the age of eighteen (18) years, and incapacitated persons (as defined in IC 29-3-1-7.5), or as trustee, receiver, conservator, or committee of the property or estate of a person, corporation, or company, in insolvency or bankruptcy proceedings, or as depository of money paid into court, whether for the benefit of a person, regardless of age, corporation, or party, and in any other fiduciary capacity.Formerly: Acts 1933, c.40, s.175; Acts 1973, P.L.280, SEC.3. As amended by P.L.33-1989, SEC.27.
IN Code § 28-1-11-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-7. Testamentary and Probate Fiduciary Appointments

Sec. 7. Any bank or trust company shall have power to be appointed and to accept the appointment and act as executor or trustee under the last will and testament, or as administrator, with or without the will annexed, of the estate of any deceased person, and to be appointed and to act under the order of appointment of any court of competent jurisdiction as executor of or trustee under any last will and testament, whenever it shall be the successor to any corporation appointed in such last will and testament, whether such succession is the result of merger, consolidation or otherwise. Whenever a natural person is appointed with such corporation in any appointment as receiver, guardian, commissioner, trustee, executor, administrator with or without the will annexed, his appointment may be under such limitation of powers, and upon such terms and conditions as to the possession and control of the trust assets by such corporation, or otherwise, and as to the bond or security, if any, to be given by him, as the person appointed and such corporation may agree and the court or judge making the appointment shall approve. Whenever any natural person who is appointed in any fiduciary capacity is required to give a bond or security for the faithful performance of his duties, such corporation shall have the power and authority to guarantee or become surety for such natural person if such corporation shall take possession and control of the assets belonging to any such estate or other fiduciary relationship, and if approved by the court having jurisdiction of the fiduciary.Formerly: Acts 1933, c.40, s.176.
IN Code § 28-1-11-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-8. Appointment as Successor Guardian, Trustee, Executor, or Administrator

Sec. 8. Any bank or trust company shall have power to be appointed and to act under the order of appointment of any court of competent jurisdiction as guardian, trustee, executor or administrator, with or without the will annexed, on the application or consent of any person acting as such or entitled to such appointment and in the place and stead of such person, but such appointment shall be made upon such notice as is required by law to the persons interested in the estate or fund and on the consent of such of the principal beneficiaries or other persons interested in the estate or fund as the court or judge thereof making the appointment shall deem proper.Formerly: Acts 1933, c.40, s.177.
IN Code § 28-1-11-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-9. Trust Business

Sec. 9. Any bank or trust company shall have power to take, accept and execute any and all legal trusts, duties, and powers in regard to the holding, management, sale and disposition of any property or estate, real or personal, wherever located, and the rents and profits thereof, which may be granted or confided to it by any court of competent jurisdiction, or by any person, corporation, municipality or other authority; to take, accept and execute any and all trusts and powers of whatsoever nature or description which may be conferred upon or entrusted or submitted to it by any person, firm, company, or any body politic, corporation, foreign or domestic, or other authority, by grant, assignment, transfer, devise, bequest or otherwise, or which may be entrusted or committed or transferred to it or vested in it by order of any court of competent jurisdiction; and generally to execute trusts of every description not inconsistent with the laws of this state or of the United States.Formerly: Acts 1933, c.40, s.178.
IN Code § 28-1-11-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-10. Service as Fiduciary Without Bond; Judicial Control; Requirement of Security

Sec. 10. Except as otherwise provided in this chapter, any bank or trust company shall have power to act in each and every fiduciary capacity permitted by the terms of this article, and as commissioner for the sale of real estate, without bond or other security, and administer oaths attested by the signature of its secretary or cashier and its seal wherever it is acting in any such fiduciary capacity and whenever an individual acting in the same capacity is authorized by law to administer oaths. The court having jurisdiction of the fiduciary at any time, whether before or after acceptance of any fiduciary appointment, may require a bond or other security, and upon failure of such corporation to give a bond or security as required, may remove such corporation and revoke its appointment. No bank or trust company shall pledge or deposit any of its assets as a condition to the exercise of any of its powers as a fiduciary.Formerly: Acts 1933, c.40, s.179. As amended by P.L.263-1985, SEC.60.
IN Code § 28-1-11-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-11. Safe Deposits and Escrows

Sec. 11. Any bank or trust company shall have power to receive, upon terms and conditions to be prescribed by such corporation, not inconsistent with the provisions of this section, upon deposit for safe-keeping, or in escrow, moneys, bonds, mortgages, jewelry, plate, stock, securities and valuable papers of any kind, and other personal property for hire, and to rent or lease receptacles for safe deposits of personal property. No bank or trust company nor any of the assets thereof shall be liable, for the value of any property received by it pursuant to the power conferred by this section nor for damages for the loss, theft or misappropriation thereof. Any bank or trust company may procure and carry a policy or policies of insurance for the benefit of the owners of any property received by it pursuant to the power conferred by this section.Formerly: Acts 1933, c.40, s.180.
IN Code § 28-1-11-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-12. Federal Reserve System and Federal Deposit Insurance Corporation Membership; Federal Securities

Sec. 12. Every bank or trust company shall have power:(1) to purchase and hold for the purpose of becoming a member of the federal reserve system:(A) so much of the capital stock of a federal reserve bank as shall qualify it for membership, pursuant to the Federal Reserve Act (12 U.S.C. 221 et seq.); and(B) so much of the capital stock of the Federal Deposit Insurance Corporation as will qualify it for membership, pursuant to the Federal Deposit Insurance Act (12 U.S.C. 1811 through 1833e);(2) to do anything necessary or appropriate to acquire and maintain insurance of its deposits in accordance with the provisions of any federal law in force on or after July 1, 1933;(3) to become a member of the federal reserve system; and(4) to have and exercise all powers, not in conflict with the laws of this state, which are conferred upon any such member by the Federal Reserve Act. With the express approval of the department, and except as otherwise provided in this chapter, any bank or trust company shall have the power to purchase and hold shares of the capital stock, bonds, notes, debentures, or any other securities or obligations issued at any time by any agency or instrumentality of the federal government. After July 1, 1933, no bank or trust company shall purchase the capital stock of any joint stock land bank organized pursuant to 12 U.S.C. 2001 through 2279aa-14 and hold the stock so purchased in an amount in excess of ten percent (10%) of the capital and surplus of such bank or trust company.Formerly: Acts 1933, c.40, s.181; Acts 1935, c.5, s.28; Acts 1937, c.33, s.19. As amended by P.L.263-1985, SEC.61; P.L.8-1991, SEC.12; P.L.42-1993, SEC.28; P.L.213-2007, SEC.41; P.L.217-2007, SEC.39.
IN Code § 28-1-11-12.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-12.5. Federal Home Loan Bank; Investments; Membership; Loans; Transfer, Assignment, and Pledge of Bonds, Notes, Contracts, Mortgages, Securities, and Other Property

Sec. 12.5. Subject to any limitations imposed by the department through policy, a bank or trust company may do any of the following:(1) Invest the money deposited in the bank or trust company in the shares of the capital stock, bonds, debentures, notes, or other obligations of a federal home loan bank of the United States.(2) Become a member of the federal home loan bank of the district in which Indiana is located or an adjoining district.(3) Borrow money from:(A) a federal home loan bank described in subdivision (2);(B) the Federal Deposit Insurance Corporation; or(C) any other corporation.(4) Transfer, assign to, and pledge with a federal home loan bank described in subdivision (2), the Federal Deposit Insurance Corporation, or other corporation any of the bonds, notes, contracts, mortgages, securities, or any other property of the bank or trust company held or acquired as security for the payment of loans entered into under subdivision (3).(5) Exercise all rights, powers, and privileges conferred upon, and do all things and perform all acts required of, members or shareholders of a federal home loan bank by the Federal Home Loan Bank Act (12 U.S.C. 1421 through 1449).As added by P.L.258-2003, SEC.5.
IN Code § 28-1-11-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 11. Powers of Banks and Trust Companies|28-1-11-13. Compensation for Services

Sec. 13. Any bank or trust company shall have power to demand and receive for the faithful performance and discharge of services performed pursuant to the powers vested in it by this article reasonable compensation, or such compensation as shall have been fixed by agreement of the parties, together with any and all advances necessarily paid out and expended in the discharge and performance of its duties, and unless otherwise agreed upon, interest at the legal rate on such advances. No compensation or commission paid or agreed to be paid for the negotiation of any loan or the execution of any trust by any such corporation shall be deemed to be interest within the meaning of any law of this state, nor shall any excess thereof over any rate of interest permitted by the laws of this state be decreed or held to be usury in any court of law or equity. The advances contemplated in this section may include the compensation paid for the employment of legal services when necessary for the protection of any trust or other fiduciary relation.Formerly: Acts 1933, c.40, s.182. As amended by P.L.263-1985, SEC.62.
IN Code § 28-1-12-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 12. Regulation of Bank and Trust Company Fiduciaries|28-1-12-1. Authority to Serve as Fiduciary

Sec. 1. (a) Any court or officer thereof having jurisdiction to grant letters of guardianship, to appoint a trustee, guardian, receiver, or committee of the estate of any person, to appoint a committee or trustee or a receiver in insolvency or bankruptcy proceedings, or in any other proceeding or action, under state or federal law, or to make any other fiduciary appointment contemplated and provided for in IC 28-1-11, may appoint any bank or trust company qualified under subsection (b) as such fiduciary. However, the bank or trust company is not required to accept the appointment.(b) A bank or trust company is qualified to act as a fiduciary under subsection (a) if the bank or trust company is:(1) organized under the provisions of IC 28;(2) a national bank authorized to act as a fiduciary and that bank either:(A) has its principal place of business in Indiana; or(B) has its principal place of business in a state or territory of the United States, including the District of Columbia, that grants authority to serve in similar fiduciary capacities to banks and trust companies organized and doing business under the laws of Indiana; or(3) organized and doing trust company business under the laws of a state or territory described in subdivision (2)(B).(c) This section shall be construed to permit a bank or trust company that is organized and doing business under the laws of any state, territory, or district other than Indiana, including a national bank or national trust company doing business in any other state, to establish in Indiana, subject to the approval of the department, a place of business or agency for the conduct of business as a fiduciary if the law of the state, territory, or district in which the bank or trust company is located would allow an Indiana bank or trust company to establish a place of business or agency in that state, territory, or district for the conduct of business as a fiduciary.Formerly: Acts 1933, c.40, s.183. As amended by Acts 1980, P.L.175, SEC.1; P.L.42-1993, SEC.29; P.L.122-1994, SEC.79.
IN Code § 28-1-12-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 12. Regulation of Bank and Trust Company Fiduciaries|28-1-12-2. Control by Court; Accounts, Statements, and Reports

Sec. 2. Every bank or trust company appointed as a fiduciary, pursuant to the provisions of this article, shall be subject at all times to the orders, judgments, and decrees of the court from which it shall have accepted any such trust, appointment, or commission, as to such trust or other fiduciary relationship, and shall render to such court such itemized and verified accounts, statements, and reports as may be required by law, or as such court shall determine, in relation to such particular trust or other fiduciary appointment.Formerly: Acts 1933, c.40, s.184. As amended by P.L.263-1985, SEC.63.
IN Code § 28-1-12-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 12. Regulation of Bank and Trust Company Fiduciaries|28-1-12-4. Profit or Commission on Sales; Necessity of Specific Authorization; Surcharge

Sec. 4. No profit or commission, other than interest at the legal rate upon a loan or advancement, shall be taken or received by any bank or trust company or corporate fiduciary, directly or indirectly, out of any sale or purchase to or from any estate, guardianship, or trust of any kind of which it is the fiduciary, unless specifically authorized by agreement with the creator of the trust, or the court having jurisdiction thereof; and upon violation of this section such bank or trust company or corporate fiduciary shall be surcharged any profit so taken or received, and an amount equal thereto, in addition, and may be summarily removed as such fiduciary by the court having jurisdiction.Formerly: Acts 1933, c.40, s.189. As amended by P.L.262-1995, SEC.31.
IN Code § 28-1-12-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 12. Regulation of Bank and Trust Company Fiduciaries|28-1-12-6. Liquidation Preferences

Sec. 6. Upon the liquidation of any bank or trust company or corporate fiduciary while it is acting as guardian, trustee, receiver, administrator, executor, commissioner, or assignee for the benefit of creditors the person or persons beneficially entitled to receive property or proceeds thereof held by it, or any successor fiduciary that may be appointed, shall have preference and priority in all assets of such bank or trust company or corporate fiduciary over its general creditors, for all uninvested money held by such bank or trust company or corporate fiduciary in the fiduciary capacities above named, to the extent that such money is commingled with its general assets or is not duly accounted for.Formerly: Acts 1933, c.40, s.192; Acts 1937, c.33, s.25. As amended by P.L.262-1995, SEC.32.
IN Code § 28-1-12-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 12. Regulation of Bank and Trust Company Fiduciaries|28-1-12-7. Violations

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.
IN Code § 28-1-13-1.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.1. "Capital and Surplus" or "Unimpaired Capital and Unimpaired Surplus" Defined

Sec. 1.1. As used in this chapter, "capital and surplus" or "unimpaired capital and unimpaired surplus" has the meaning set forth in 12 CFR 32.2.As added by P.L.14-1992, SEC.83. Amended by P.L.176-1996, SEC.13; P.L.213-2007, SEC.42; P.L.217-2007, SEC.40.
IN Code § 28-1-13-1.2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.2. "Loans and Extensions of Credit" Defined

Sec. 1.2. As used in this chapter, "loans and extensions of credit" has the meaning set forth in 12 CFR 32.2.As added by P.L.14-1992, SEC.84. Amended by P.L.90-2008, SEC.25.
IN Code § 28-1-13-1.3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.3. "Person" Defined

Sec. 1.3. As used in this chapter, "person" includes an individual, a sole proprietorship, a partnership, a joint venture, an association, a trust, an estate, a business trust, a limited liability company, a corporation, a sovereign government, or an agency, an instrumentality, or a political subdivision thereof, or any similar entity or organization.As added by P.L.14-1992, SEC.85. Amended by P.L.8-1993, SEC.439.
IN Code § 28-1-13-1.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.5. 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. 1.5. (a) The total loans and extensions of credit by a bank to a person outstanding at one (1) time and not fully secured, as determined in a manner consistent with subsection (b), by collateral having a market value at least equal to the amount of the loan or extension of credit may not exceed fifteen percent (15%) of the unimpaired capital and unimpaired surplus of the bank.(b) The total loans and extensions of credit by a bank to a person outstanding at one (1) time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the funds outstanding may not exceed ten percent (10%) of the unimpaired capital and unimpaired surplus of the bank. The limitation in this subsection is separate from and in addition to the limitation contained in subsection (a).(c) The total loans and extensions of credit by a bank includes any credit exposure to a person arising from a derivative transaction (as defined in 12 U.S.C. 84(b)(3)) between the bank and the person.As added by P.L.14-1992, SEC.87. Amended by P.L.27-2012, SEC.53.
IN Code § 28-1-13-1.6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.6. Exceptions to Limitations on Loans or Extensions of Credit to One Borrower

Sec. 1.6. The limitations contained in section 1.5 of this chapter are subject to the exceptions set forth in 12 CFR 32.3.As added by P.L.14-1992, SEC.88. Amended by P.L.73-2016, SEC.20.
IN Code § 28-1-13-1.7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.7. Limit on Total Consumer Credit Obligation of One Borrower

Sec. 1.7. (a) Loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper that carries a full recourse endorsement or unconditional guarantee by the person transferring the paper is subject under this section to a maximum limitation equal to twenty-five percent (25%) of the capital and surplus, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter.(b) If the bank's files or the knowledge of the bank's officers of the financial condition of each maker of such consumer paper is reasonably adequate, and an officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of the loans or extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor, the limitations of this section as to the loans or extensions of credit of each such maker shall be the sole applicable loan limitations.As added by P.L.14-1992, SEC.89.
IN Code § 28-1-13-1.8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-1.8. Limit on Obligations Secured by Documents or Instruments Covering Livestock; Dealer Discount of Paper Securing Sale of Dairy Cattle With Payment Guaranteed by Seller

Sec. 1.8. (a) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock when the market value of the livestock securing the obligation is not at any time less than one hundred fifteen percent (115%) of the face amount of the note covered are subject under this section, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter, to a maximum limitation equal to twenty-five percent (25%) of the capital and surplus.(b) Loans and extensions of credit that arise from the discount by dealers in dairy cattle of paper given in payment for dairy cattle, which paper carries a full recourse endorsement or unconditional guarantee of the seller and that are secured by the cattle being sold, are subject under this section, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter, to a limitation of twenty-five percent (25%) of the capital and surplus.As added by P.L.14-1992, SEC.90. Amended by P.L.141-2005, SEC.7.