reglab/housing_qa huggingface dataset:
IN Code § 28-6.1-7-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|28-6.1-7-5. Extending Credit to State Agencies

Sec. 5. (a) A savings bank may extend credit to any state agency, with the approval of the department, notwithstanding any other provisions or limitations of IC 28-1.(b) An Indiana law:(1) prescribing the nature, amount, or form of security;(2) requiring security upon which loans or advances of credit may be made;(3) prescribing or limiting interest rates upon loans or advances of credit; or(4) prescribing or limiting the period for which loans or advances of credit may be made;does not apply to loans or advances of credit made under this section.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|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, and dispose of notes and mortgages securing the notes, made to any incorporated joint stock land bank if not less than ninety-nine percent (99%) of the stock of the joint stock land bank is owned by the savings bank at the time the notes or mortgages are acquired by the savings bank.(b) Upon dissolution of the joint stock land bank, or at any stage in the process of the dissolution, a savings bank then owning not less than ninety-nine percent (99%) of the stock of the joint stock land bank may take, hold, and dispose of notes, mortgages, or other assets of the joint stock land bank of any nature, including real estate, wherever located, that the joint stock land bank assigns, transfers, conveys, or otherwise makes over to the savings bank by way of final or partial distribution of the joint stock land bank's assets to the joint stock land bank's stockholders upon the dissolution or in connection with the process of the dissolution.(c) An Indiana law:(1) prescribing the nature, amount, location, or form of security;(2) requiring security upon which loans or advances of credit may be made;(3) prescribing or limiting interest rates upon loans or advances of credit;(4) prescribing or limiting the period for which loans or advances of credit may be made;(5) prescribing any ratio between the amount of a loan and the appraised value of the security for the loan; or(6) requiring periodic reductions of the principal of a loan;does not apply to loans, notes, mortgages, real estate, or other assets subject to this section.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|28-6.1-7-7. Owning and Leasing Property

Sec. 7. Subject to any restrictions the department may impose, a savings bank may:(1) become the owner or lessor of personal or real property upon the request of and for the use of a customer; and(2) incur additional obligations incident to becoming an owner or a lessor of the property.As added by P.L.42-1993, SEC.72. Amended by P.L.11-1998, SEC.11.
IN Code § 28-6.1-7-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|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 buildings and hold legal title to a building to be leased to a municipal corporation or other public authority, for public purposes, having resources sufficient to make payment of all rentals as the payments become due.(b) A lease agreement shall provide that upon expiration, the lessee will become the owner of the building.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|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 the department, a savings bank may purchase, hold, and convey real property that is:(1) improved or to be improved by a single, freestanding building; and(2) to be used, in part, as a branch of the savings bank and, in part, as rental property for one (1) lessee.(b) If real estate described in subsection (a) is held by a savings bank for at least one (1) year without being used as described in subsection (a), the board of directors of the savings bank shall state, by resolution, definite plans for the use of the real estate. A resolution adopted under this subsection shall be made available for inspection by the department.(c) Unless a written extension of time is given by the department under this subsection, the savings bank shall open the branch not later than three (3) years after the acquisition date of the real estate. The department may grant an extension of time for the savings bank to open the branch if:(1) the board of directors of the savings bank, by resolution:(A) reaffirms annually that the savings bank expects to use the real estate as described in subsection (a) in the future; and(B) explains the reason why the real estate has not yet been used as described in subsection (a); and(2) the director determines that:(A) the continued holding of the real estate by the savings bank does not endanger the safety and soundness of the savings bank; and(B) the savings bank is holding the real estate to use the real estate in the future for one (1) of the purposes set forth in subsection (a).(d) If the savings bank:(1) does not open a branch on the real estate within the period specified in subsection (c); or(2) removes its branch from the real estate;the savings bank shall divest itself of all interest in the real estate not more than ten (10) years after the acquisition date of the real estate, if a branch was not opened, or ten (10) years after the removal date of the branch office.(e) Except with the written approval of the department, the sum invested in real property and buildings used for the convenient transaction of the savings bank's business as provided in this section may not exceed fifty percent (50%) of the surplus and retained earnings of the savings bank.As added by P.L.42-1993, SEC.72. Amended by P.L.213-2007, SEC.63; P.L.217-2007, SEC.61.
IN Code § 28-6.1-7-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|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 convey real estate that is necessary for the convenient transaction of the business of the savings bank.(b) For the purposes of this section, real estate purchased or held for the convenient transaction of the business of a savings bank includes the following:(1) Real estate on which the principal office or a branch office of the savings bank is located.(2) Real estate that is the location of facilities supporting the operations of the savings bank, such as parking facilities, data processing centers, loan production offices, automated teller machines, night depositories, facilities necessary for the operations of a savings bank, or other facilities that are approved by the director.(3) Real estate that the board of the savings bank expects, in good faith, to use as a savings bank office or facility in the future.(c) If real estate referred to in subsection (b)(3) is held by a savings bank for one (1) year without being used as a savings bank office or facility, the board of trustees of the savings bank shall state, by resolution, definite plans for the use of the real estate. A resolution adopted under this subsection shall be made available for inspection by the department.(d) Real estate referred to in subsection (b)(3) may not be held by a savings bank for more than three (3) years without being used as a savings bank office or facility unless both of the following apply:(1) The board of the savings bank, by resolution:(A) reaffirms annually that the savings bank expects to use the real estate as a savings bank office or facility in the future; and(B) explains the reason why the real estate has not yet been used as a savings bank office or facility.(2) The director determines that both of the following apply:(A) The continued holding of the real estate by the savings bank does not endanger the safety and soundness of the savings bank.(B) The savings bank is holding the real estate to use in the future for one (1) of the purposes set forth in subsection (b)(1) and (b)(2).(e) Real estate referred to in subsection (b)(3) may not be held by a savings bank for more than ten (10) years without being used as a savings bank office or facility unless the department consents in writing to the continued holding of the real estate by the savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department|28-6.1-7-13. Paying Interest and Expenses

Sec. 13. A savings bank may not pay:(1) interest contracted for with a depositor; or(2) other expenses incurred in operating the business of the savings bank;except from current earnings or undivided profits without the approval of the department.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|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 the savings bank only as provided in this article.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|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 sell loans or extensions of credit secured by liens on interests in real estate as provided in IC 28-1-13-7.1.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|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 savings bank may do the following:(1) Make loans and advances of credit and purchases of obligations representing loans and advances of credit eligible for insurance by the federal housing administrator, and to obtain such insurance.(2) Make loans secured by mortgages on real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, and to obtain such insurance.(3) To purchase, invest in, and dispose of notes or bonds secured by mortgage or trust deed insured by the federal housing administrator or debentures issued by the federal housing administrator, or bonds or other securities issued by national mortgage associations.(b) An Indiana law:(1) prescribing the nature, amount, or form of security;(2) requiring security upon which loans or advances of credit may be made;(3) prescribing or limiting interest rates upon loans, advances, or credit; or(4) prescribing or limiting the period for which loans, advances, or credit may be made;does not apply to loans, advances of credit, or purchases made under subsection (a).(c) A rule adopted by the department under this section may apply to one (1) or more savings banks and to one (1) or more localities in Indiana as the department determines.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|28-6.1-8-4. Lending Deposited Money

Sec. 4. (a) A savings bank may do the following:(1) Lend the money deposited in the savings bank upon:(A) individual credit;(B) the security of comakers or personal endorsement;(C) the mortgage or pledge of personal property, either tangible or intangible; or(D) the pledge of choses in action.(2) Discount, purchase, or otherwise acquire retail installment sales contracts, notes, bills of exchange, or acceptance or other choses in action.(b) The savings bank may contract for and receive on loans and discounts described in this subsection the highest rate of interest allowed by Indiana law to be contracted for and received by individuals.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|28-6.1-8-5. Investing in Real Estate

Sec. 5. A savings bank may invest in real estate subject to IC 28-6.1-7-12.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|28-6.1-8-6. Investing in Dealings in Exchange

Sec. 6. (a) Subject to subsection (b), a savings bank may invest in dealing in exchange by purchasing and selling sight or time drafts and acceptances payable out of Indiana.(b) A draft or an acceptance may not:(1) exceed ten thousand dollars ($10,000); or(2) have to exceed one hundred twenty (120) days to run from the time of its purchase.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|28-6.1-8-7. Becoming Federal Reserve System Member and Exercising Conferred Powers

Sec. 7. A savings bank may do any of the following to become a member of the Federal Reserve System and exercise all powers, not in conflict with Indiana law, conferred on a member of the Federal Reserve Act:(1) Purchase and hold, for the purpose of becoming a member of the Federal Reserve System, so much of the capital stock of a federal reserve bank to qualify the savings bank for membership under the Federal Reserve Act (12 U.S.C. 221 et seq.).(2) Do any of the following regarding federal deposit insurance:(A) Make a deposit with the Federal Deposit Insurance Corporation to qualify the savings bank for membership in any fund for insurance of deposits provided by 12 U.S.C. 1811 through 1833e.(B) Purchase and hold the amount of the capital stock of the Federal Deposit Insurance Corporation that will qualify the savings bank for membership in a fund described in clause (A).(C) Exercise all powers, not in conflict with Indiana law, conferred upon members of a fund described in clause (A) or stockholders of the Federal Deposit Insurance Corporation.(D) Anything necessary or appropriate to acquire and maintain insurance of the savings bank's deposits in accordance with federal law.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|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 through policy, a savings bank may do any of the following:(1) Invest the money deposited in the savings bank 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 this or an adjoining district.(3) Borrow money from:(A) a bank described in subdivision (2);(B) the Federal Deposit Insurance Corporation; or(C) any other corporation.(4) Transfer, assign to, and pledge with a bank described in subdivision (2), the Federal Deposit Insurance Corporation, or other corporation, any of the bonds, notes, contracts, mortgages, securities, or other property of the savings bank 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 to 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.42-1993, SEC.72. Amended by P.L.258-2003, SEC.8.
IN Code § 28-6.1-8-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|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 in the savings bank in and sell shares of open-end investment companies, the portfolios of which consist solely of securities eligible for purchase and sale by national banking associations, on terms and conditions prescribed by federal law or regulation for national banking associations.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-8-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 8. Investment and Loan Powers of Savings Banks|28-6.1-8-10. Depositing Funds; Permissible Institutions and Accounts

Sec. 10. A savings bank may deposit its funds in:(1) a federally chartered savings association; or(2) a savings association or other entity organized and operated according to federal law or the laws of a state or the District of Columbia;the accounts of which are insured by the Federal Deposit Insurance Corporation.As added by P.L.42-1993, SEC.72. Amended by P.L.79-1998, SEC.72; P.L.89-2011, SEC.45.
IN Code § 28-6.1-9-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|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" and "unimpaired capital and surplus" have the meaning set forth in 12 CFR 32.2.As added by P.L.42-1993, SEC.72. Amended by P.L.176-1996, SEC.19; P.L.213-2007, SEC.64; P.L.217-2007, SEC.62.
IN Code § 28-6.1-9-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 9. Lending Limitations of Savings Banks|28-6.1-9-2. Loans and Extensions of Credit

Sec. 2. As used in this chapter, "loans and extensions of credit" includes all direct or indirect advances of funds to a person made on the basis of an obligation of that person to repay the funds or repayable from specific property pledged by or on behalf of the person. To the extent specified by the department, the term includes a liability of a savings bank to advance funds to or on behalf of a person under a contractual commitment.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-9-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 9. Lending Limitations of Savings Banks|28-6.1-9-3. Person

Sec. 3. As used in this chapter, "person" includes an individual, an association, a business trust, a corporation, an estate, a joint venture, a sole proprietorship, a partnership, a trust, a government, or an agency, an instrumentality, or a political subdivision of a government, or any similar entity.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-9-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 9. Lending Limitations of Savings Banks|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 by a savings 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 savings bank.(b) The total loans and extensions of credit by a savings 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 savings 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 savings 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 savings bank and the person.As added by P.L.42-1993, SEC.72. Amended by P.L.27-2012, SEC.86.
IN Code § 28-6.1-9-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 9. Lending Limitations of Savings Banks|28-6.1-9-6. Exceptions to Lending Limitations

Sec. 6. The limitations contained in section 5 of this chapter are subject to the following exceptions:(1) Loans or extensions of credit arising from the discount of commercial or business paper evidencing an obligation to the person negotiating the loan or extension of credit with recourse are not subject to any limitation based on capital and surplus.(2) The purchase of bankers' acceptances of the kind described in 12 U.S.C. 372 and issued by other banks are not subject to any limitation based on capital and surplus.(3) Loans and extensions of credit secured by bills of lading, warehouse receipts, or similar documents transferring or securing title to readily marketable staples are subject to a limitation of thirty-five percent (35%) of capital and surplus in addition to the general limitations if the market value of the staples securing each additional loan or extension of credit at all times equals or exceeds one hundred fifteen percent (115%) of the outstanding amount of the loan or extension of credit. The staples shall be fully covered by insurance whenever it is customary to insure them.(4) Loans or extensions of credit secured by bonds, notes, certificates of indebtedness, or treasury bills of the United States or by other similar obligations fully guaranteed as to principal and interest by the United States are not subject to any limitation based on capital and surplus.(5) Loans or extensions of credit to or secured by unconditional takeout commitment or guarantees of an agency, a board, a bureau, a commission, a department, or other establishment of the United States or corporation wholly owned directly or indirectly by the United States are not subject to any limitation based on capital and surplus.(6) Loans or extensions of credit secured by a segregated deposit account in the lending bank are not subject to any limitation based on capital and surplus.(7) Loans or extensions of credit to a financial institution or to a receiver, conservator, superintendent of banks, or other agent in charge of the business and property of the financial institution, when the loans or extensions of credit are approved by the director, are not subject to any limitation based on capital and surplus.As added by P.L.42-1993, SEC.72.