reglab/housing_qa huggingface dataset:
IN Code § 28-12-5-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 5. Approval of Application by Department|28-12-5-1. Written or Stamped Approval; Official Seal and Signature

Sec. 1. (a) If the department approves the application, the department shall write or stamp on the articles of incorporation the following:(1) The words "Approved by the Department of Financial Institutions of the State of Indiana".(2) The date of the approval.(b) The department shall place the impression of the seal of the department and the signature of the director or the director's authorized designee beneath the approval stamp.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-5-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 5. Approval of Application by Department|28-12-5-2. Delivery of Copies for Filing; Fees

Sec. 2. If the articles of incorporation are approved by the department, the department shall deliver four (4) copies of the articles of incorporation to the secretary of state for filing, together with the fees that are required.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-5-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 5. Approval of Application by Department|28-12-5-3. Return of Copies Bearing Endorsement of Secretary of State

Sec. 3. The secretary of state shall return three (3) copies of the articles, bearing the endorsement of the secretary of state, to the department. The department shall return two (2) of the copies to the incorporators. The incorporators shall then file one (1) copy of the articles with the recorder's office of each county in which the corporation maintains an office.As added by P.L.14-1992, SEC.162. Amended by P.L.122-1994, SEC.116.
IN Code § 28-12-6-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 6. Effective Date of Incorporation|28-12-6-1. Beginning of Corporate Existence; Delayed Effective Date

Sec. 1. Unless a delayed effective date is specified, the corporate existence of the corporation begins when the articles of incorporation bearing the approval stamp of the department are filed with the secretary of state.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-6-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 6. Effective Date of Incorporation|28-12-6-2. Conclusive Proof of Compliance With Conditions Precedent; Exception

Sec. 2. The filing of the articles of incorporation with the secretary of state is conclusive proof that the incorporators satisfied all conditions precedent to incorporation except in a proceeding by the state to cancel or revoke the incorporation or involuntarily dissolve the corporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-7-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 7. Meetings of Corporation|28-12-7-1. Organizational Meeting

Sec. 1. After incorporation, the initial directors shall hold an organizational meeting at the call of a majority of the directors.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-7-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 7. Meetings of Corporation|28-12-7-2. Agenda of Organizational Meeting

Sec. 2. At the organizational meeting, the directors shall complete the organization of the corporation by electing or appointing officers, adopting bylaws, and carrying on any other business brought before the meeting.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-7-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 7. Meetings of Corporation|28-12-7-3. Consents; Actions Taken Without Organizational Meeting

Sec. 3. Any action that could be taken at an organizational meeting may be taken without a meeting if the action taken is evidenced by one (1) or more written consents that describe the action taken and that are signed by each initial director.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-7-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 7. Meetings of Corporation|28-12-7-4. Place of Organizational Meeting

Sec. 4. An organizational meeting may be held only in Indiana.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-8-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 8. Business of Corporation|28-12-8-1. Conditions for Indebtedness or Transactions

Sec. 1. A corporation may not transact any business or incur any indebtedness, except as is incidental to its organization or to obtaining subscriptions to or payment for shares of its capital stock, unless and until the following requirements are met:(1) The amount of capital of the corporation as set forth in its articles of incorporation has been fully paid for in money.(2) There has been filed with the department the affidavit of not less than a majority of the board of directors stating that the amount of capital as stated in its articles of incorporation has been fully paid in.(3) There has been filed with the department a certificate or other written evidence satisfactory to the department that the corporation has obtained deposit insurance from the Federal Deposit Insurance Corporation or its successor in interest, unless the corporation is being organized solely as a trust company.As added by P.L.14-1992, SEC.162. Amended by P.L.1-1993, SEC.209.
IN Code § 28-12-8-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 8. Business of Corporation|28-12-8-2. Liability of Officers and Directors for Unauthorized Business; Dissenters; Exemption

Sec. 2. If a corporation transacts any business in violation of section 1 of this chapter, the officers and directors of the corporation, upon learning of the action, are jointly and severally liable for the debts or liabilities of the corporation so incurred or arising from the transactions. The liability imposed by this section does not apply to those officers and directors who dissented to the action and caused their written dissent to be filed in the principal office of the corporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-8-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 8. Business of Corporation|28-12-8-3. Failure to Timely Complete Organization and Transact Business

Sec. 3. If a corporation organized under this title does not complete its organization and proceeds with the transaction of business within six (6) months after its articles of incorporation have been approved and filed, the approval is revoked and the articles of incorporation are void, unless an extension is granted by the director of the department.As added by P.L.11-1998, SEC.21.
IN Code § 28-12-9-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 9. Bylaws of Corporation|28-12-9-1. Initial Bylaws

Sec. 1. The initial board of directors of the corporation shall adopt initial bylaws for the corporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-9-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 9. Bylaws of Corporation|28-12-9-2. Permissible Provisions

Sec. 2. The bylaws of the corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-10-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 10. Emergency Bylaws|28-12-10-1. Adoption; Effectiveness; Management of Corporation During Emergency

Sec. 1. Unless the articles of incorporation provide otherwise, the board of directors of the corporation may adopt bylaws to be effective only in an emergency. The emergency bylaws may make all provisions necessary for managing the corporation during the emergency, including the following:(1) Procedures for calling a meeting of the board of directors.(2) Quorum requirements for the meeting.(3) Designation of additional or substitute directors.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-10-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 10. Emergency Bylaws|28-12-10-2. Continuing Effectiveness of Regular Bylaws; Termination of Emergency

Sec. 2. All provisions of the regular bylaws consistent with the emergency bylaws remain effective during the emergency. The emergency bylaws are not effective after the emergency ends.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-10-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 10. Emergency Bylaws|28-12-10-3. Effect of Good Faith Corporate Action

Sec. 3. Corporate action taken in good faith in accordance with the emergency bylaws:(1) binds the corporation; and(2) may not be used to impose liability on a director, an officer, an employee, or an agent.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-10-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 10. Emergency Bylaws|28-12-10-4. Extraordinary Event Preventing Quorum; Continuation of Emergency

Sec. 4. An emergency exists for purposes of this chapter if an extraordinary event prevents a quorum of the corporation's directors from assembling in time to deal with the business for which the meeting has been or is to be called.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-11-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 11. Capital Requirements for Corporations|28-12-11-1. Requirements for Corporations Organized or Reorganized Under This Title

Sec. 1. (a) This section applies only to a corporation that is organized or reorganized under Indiana law and is any of the following:(1) A bank and trust company.(2) A bank.(3) A savings bank.(4) A trust company.(5) A savings association.(6) An industrial loan and investment company.(7) A credit union.(8) A corporate fiduciary.(9) A bank of discount and deposit.(10) A loan and trust and safe deposit company.(b) The department shall determine the minimum amount of the capital of a corporation organized or reorganized under this title after giving consideration to:(1) the potential deposit liability to be anticipated, in the case of a proposed new corporation; or(2) the existing deposit liability, in the case of a corporation to be reorganized.As added by P.L.42-1993, SEC.92. Amended by P.L.122-1994, SEC.117; P.L.258-2003, SEC.24; P.L.213-2007, SEC.101; P.L.217-2007, SEC.99.
IN Code § 28-12-11-1.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 11. Capital Requirements for Corporations|28-12-11-1.5. Minimum Capital

Sec. 1.5. (a) A corporate fiduciary must have at least the minimum capital necessary for the safe and sound operation of the corporate fiduciary.(b) For the purposes of this section, the department shall determine the minimum capital that is necessary for the safe and sound operation of a corporate fiduciary.As added by P.L.262-1995, SEC.83.
IN Code § 28-12-11-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 11. Capital Requirements for Corporations|28-12-11-2. Requirements for Corporations Merged With Existing Corporations

Sec. 2. (a) This section applies only to a corporation that is organized or reorganized under Indiana law and is any of the following:(1) A bank and trust company.(2) A bank.(3) A savings bank.(4) A trust company.(5) A savings association.(6) An industrial loan and investment company.(7) A credit union.(8) A corporate fiduciary.(9) A bank of discount and deposit.(10) A loan and trust and safe deposit company.(b) Notwithstanding section 1 of this chapter, the amount of capital stock of a corporation to be organized under this title shall be one hundred dollars ($100) if an existing corporation will be merged into or otherwise acquired by the corporation for which application has been made.(c) The new corporation may not transact business before the merger except as incidental to the merger.(d) Before completion of the merger, the department may conduct any examination into the affairs and records of any party to the merger, as determined by the director to be necessary.(e) Upon completion of the merger, the resulting corporation is subject to the paid-in capital requirement of this title.As added by P.L.42-1993, SEC.92. Amended by P.L.122-1994, SEC.118; P.L.213-2007, SEC.102; P.L.217-2007, SEC.100.
IN Code § 28-12-11-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 11. Capital Requirements for Corporations|28-12-11-3. Requirements for Savings Associations Organized or Recognized Under This Title

Sec. 3. The department shall determine the capital stock requirements of a savings association organized or reorganized under this title after giving consideration to the following:(1) In the case of a proposed new savings association, the potential deposit liability anticipated.(2) In the case of a savings association to be reorganized, the existing deposit liability.As added by P.L.42-1993, SEC.92. Amended by P.L.79-1998, SEC.88.
IN Code § 28-13-1-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-1. Number of Shares; Classes of Shares; Preferences; Limitations; Relative Rights

Sec. 1. The articles of incorporation must prescribe the number of shares that the corporation is authorized to issue. If more than one (1) class of shares is authorized by the articles of incorporation, the articles of incorporation must prescribe the number of shares in each class and a distinguishing designation for each class. Before the issuance of shares of a class, the preferences, limitations, and relative rights of the class must be described in the articles of incorporation. All shares of a class must have preferences, limitations, and relative rights identical with those of other shares of the same class except to the extent otherwise permitted by section 4 of this chapter.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-1-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-2. Voting Right; Rights to Assets on Dissolution

Sec. 2. The articles of incorporation must authorize the following:(1) At least one (1) class of shares that together have unlimited voting rights.(2) At least one (1) class of shares, which may be the same class or classes as those with voting rights, that together are entitled to receive the net assets of the corporation upon dissolution.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-1-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-3. Class of Shares With Other Rights; Designations, Preferences, and Limitations; Description Not Exhaustive

Sec. 3. (a) The articles of incorporation may authorize at least one (1) class of shares that have at least one (1) of the following characteristics:(1) Have special, conditional, or limited voting rights, or no right to vote, except to the extent prohibited by this article.(2) Are redeemable or convertible as specified in the articles of incorporation:(A) at the option of the corporation, the shareholder, or another person or upon the occurrence of a designated event;(B) for cash, indebtedness, securities, or other property; and(C) in a designated amount or in an amount determined in accordance with a designated formula or by reference to extrinsic data or events.(3) Entitle the holders to distributions calculated in any manner, including dividends that may be cumulative, noncumulative, or partially cumulative.(4) Have preference over any other class of shares with respect to distributions, including dividends and distributions upon the dissolution of the corporation.(b) The description of the designations, preferences, limitations, and relative rights of share classes in this section is not exhaustive.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-1-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-4. Series of Shares; Distinguishing Designation; Other Rights and Preferences; Articles of Amendment

Sec. 4. (a) If the articles of incorporation so provide, the board of directors may create at least one (1) series, and may determine, in whole or in part, the preferences, limitations, and relative voting and other rights within the limits set forth in sections 1 through 3 of this chapter of the following:(1) Any class of shares before the issuance of any shares of that class.(2) At least one (1) series within a class before the issuance of any shares of that series.(b) Each series of a class must be given a distinguishing designation.(c) All shares of a series must have preferences, limitations, and relative rights identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, with those of other series of the same class.(d) Before issuing shares of a class or series that has the preferences, limitations, and relative voting and other rights determined under this section, the corporation must prepare articles of amendment, which are effective without shareholder action, that set forth the following:(1) The name of the corporation.(2) The text of the amendment determining the terms of the class or series of shares.(3) The date the articles of amendment are adopted.(4) A statement that the amendment was adopted by the board of directors.(e) The articles of amendment shall be presented to the director for approval and filed with the secretary of state as provided in IC 28-13-14 before the shares are issued.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-1-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-5. Outstanding Shares; Limitation on Reacquisition, Redemption, or Conversion; Unlimited Voting Rights; Right to Assets on Dissolution

Sec. 5. (a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until the shares are reacquired, redeemed, converted, or canceled.(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) and to IC 28-13-3-3 and IC 28-13-4.(c) At all times that shares of the corporation are outstanding, at least one (1) share that together has unlimited voting rights and at least one (1) share that together is entitled to receive the net assets of the corporation upon dissolution must be outstanding.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-1-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 1. Shares Generally|28-13-1-6. Fractional Shares; Scrip; Rights and Preferences

Sec. 6. (a) A corporation may do any of the following:(1) Issue fractions of a share or pay in money the value of fractions of a share.(2) Arrange for disposition of fractional shares by the shareholders.(3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.(b) Each certificate representing scrip must be conspicuously labeled "scrip" and must contain the information required by IC 28-13-2-6(b).(c) The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to do the following:(1) Vote.(2) Receive dividends.(3) Participate in the assets of the corporation upon liquidation.The holder of scrip is not entitled to any of these rights unless the scrip provides for the rights.(d) The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including the following:(1) That the scrip will become void if not exchanged for full shares before a specified date.(2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.As added by P.L.14-1992, SEC.163.
IN Code § 28-13-2-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 13. Corporate Governance|Chapter 2. Issuance of Shares|28-13-2-1. Subscription for Shares; Terms; Call for Payment; Nonassessable Shares; Default in Payment

Sec. 1. (a) A subscription for shares entered into before incorporation is irrevocable for six (6) months unless the subscription agreement provides a longer or shorter period or all the subscribers agree to revocation.(b) The board of directors may determine the payment terms of subscriptions for shares that were entered into before incorporation, unless the subscription agreement specifies terms. A call for payment by the board of directors must be uniform as far as practicable as to all shares of the same class or series, unless the subscription agreement specifies otherwise.(c) Shares issued under subscriptions entered into before incorporation are fully paid and nonassessable when the corporation receives the consideration specified in the subscription agreement.(d) If a subscriber defaults in payment of money or property under a subscription agreement entered into before incorporation, the corporation may collect the amount owed as any other debt. Alternatively, unless the subscription agreement provides otherwise, the corporation may rescind the agreement and may sell the shares if the debt remains unpaid more than twenty (20) days after the corporation sends written demand for payment to the subscriber.As added by P.L.14-1992, SEC.163.