reglab/housing_qa huggingface dataset:
IN Code § 28-5-1-22 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 1. Industrial Loan and Investment Act|28-5-1-22. Violations

Sec. 22. A person who violates a provision of this chapter for which there is no other penalty provided commits a Class C infraction.Formerly: Acts 1935, c.181, s.21. As amended by Acts 1978, P.L.2, SEC.2818.
IN Code § 28-5-1-22.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 1. Industrial Loan and Investment Act|28-5-1-22.1. Prohibited Transactions

Sec. 22.1. An industrial loan and investment company is prohibited from entering into any transaction that would be prohibited for a bank under IC 28-1-18.2.As added by P.L.192-1997, SEC.12.
IN Code § 28-5-1-23 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 1. Industrial Loan and Investment Act|28-5-1-23. Taxation

Sec. 23. All industrial loan and investment companies subject to the provisions of this chapter shall be taxed in the same manner as banks and trust companies are taxed under IC 6-5.5.Formerly: Acts 1935, c.181, s.21a; Acts 1969, c.129, s.3. As amended by P.L.263-1985, SEC.156; P.L.347-1989(ss), SEC.22.
IN Code § 28-5-1-25 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 1. Industrial Loan and Investment Act|28-5-1-25. Conversion Into State Bank, Trust Company, or Savings Association

Sec. 25. (a) Any industrial loan and investment company organized under this chapter may, upon approval of the department, convert into a state bank or trust company or a savings association.(b) The department shall prescribe the procedure for conversion under this section. The department shall prescribe a procedure that includes the following conditions:(1) The conversion must be proposed by the board of directors of the industrial loan and investment company in a resolution of conversion.(2) The resolution of conversion must be adopted by an affirmative vote of at least two-thirds (2/3) of the shareholders of the industrial loan and investment company.(3) The industrial loan and investment company must provide all relevant information requested by the department in connection with the conversion.(c) Upon conversion, an industrial loan and investment company has all the rights, privileges, immunities, and powers, and is subject to all the duties, restrictions, penalties, and liabilities of a bank or trust company organized under IC 28-1 or a savings association organized under IC 28-4 (before its repeal) or under IC 28-15.As added by P.L.164-1988, SEC.10. Amended by P.L.79-1998, SEC.71.
IN Code § 28-5-1-26 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 1. Industrial Loan and Investment Act|28-5-1-26. Requirement to Provide Property Tax Information in Certain Transactions

Sec. 26. With respect to a residential real property financing or refinancing, an industrial loan and investment company shall comply with IC 6-1.1-12-43.As added by P.L.64-2004, SEC.30.
IN Code § 28-5-2-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 2. Survivors─payment|28-5-2-2. Payment After Death of Certificate Holder

Sec. 2. If any certificate holder of any industrial loan and investment company shall die, leaving unpledged certificates in such company and no executor of the will or administrator of the estate has been appointed, such company, may, in its discretion, pay the value of such certificates to the widow, widower, or next of kin, or may apply the value of such certificates to the payment of funeral expenses or the expenses of the last sickness or other just debts of the decedent. As a condition of such payment, such company shall require proof by affidavit as to the parties in interest and shall also require the filing of proper waivers and the execution of a bond of indemnity with proper sureties from the parties interested, and a proper acquittance and receipt for such payment by the person to whom such payment is made shall fully release the company, and such company shall not thereafter be held liable to the decedent's executor or administrator thereafter appointed, or to any other person.Formerly: Acts 1953, c.61, s.2. As amended by P.L.254-1997(ss), SEC.27; P.L.79-2017, SEC.71.
IN Code § 28-5-2-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 2. Survivors─payment|28-5-2-3. Laws Applicable

Sec. 3. Payment of the certificates as provided in sections 1 and 2 of this chapter shall be subject to the provisions set forth in IC 28-5-1-12.Formerly: Acts 1953, c.61, s.3. As amended by P.L.263-1985, SEC.157.
IN Code § 28-5-3-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 3. Minors|28-5-3-1. Purchase of Certificates of Investment or Indebtedness; No Age Restriction

Sec. 1. All persons, regardless of age, may become purchasers of instalment or fully paid certificates of investment or indebtedness issued by any industrial loan and investment company organized under the laws of this state. When any such certificate of investment or indebtedness is purchased by or in the name of a person under the age of eighteen (18) years any such certificate of investment or indebtedness or interest credited in respect thereto may be paid to, redeemed or withdrawn by such person by check, endorsement receipt or other written instrument, which check, endorsement receipt or other instrument in writing shall constitute a receipt or acquittance, if the same is signed by such person, and shall be a valid release and discharge to the industrial loan and investment company for all payments, redemptions or withdrawals so made to the same extent as if such person were eighteen (18) years of age.Formerly: Acts 1953, c.46, s.1; Acts 1973, P.L.280, SEC.9.
IN Code § 28-5-3-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 3. Minors|28-5-3-2. Loans; Misrepresenting Age; Estoppel by Representation

Sec. 2. When, in case of any loan made by any industrial loan and investment company organized under the laws of this state, the borrower or any other person furnishing security on behalf of the borrower, shall, as an inducement to such industrial loan and investment company to make the loan, represent to it, in writing, that he or she is eighteen (18) years of age or older or otherwise make any false statement or representation to any such industrial loan and investment company, and such company is deceived, and the loan is made in reliance upon such representation, neither the person so representing nor any one in his or her behalf nor any person otherwise legally liable to pay such loan, shall afterwards be allowed, as against such industrial loan and investment company, to take advantage of the fact that the person making the representation was under eighteen (18) years of age, but each person shall be estopped by such representation.Formerly: Acts 1953, c.46, s.2; Acts 1973, P.L.280, SEC.10. As amended by P.L.134-2001, SEC.15.
IN Code § 28-5-3-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 5. Industrial Loan and Investment Companies|Chapter 3. Minors|28-5-3-3. Law Applicable

Sec. 3. Payment of certificates as provided in section 1 of this chapter shall be subject to the provisions set forth in IC 28-5-1-12.Formerly: Acts 1953, c.46, s.3. As amended by P.L.263-1985, SEC.158.
IN Code § 28-6.1-1-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 1. General Provisions|28-6.1-1-1. Application of Article

Sec. 1. Except as provided in this article, this article applies to all savings banks.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-1-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 1. General Provisions|28-6.1-1-2. Applicability of Corporate Governance Laws; References

Sec. 2. (a) This section applies only to a savings bank (whether in stock or mutual form of ownership) that was:(1) formed as a result of conversion under IC 28-1-21.7, IC 28-1-21.8, or IC 28-1-21.9 after December 31, 1992;(2) incorporated under IC 28-12; or(3) formed as a result of conversion under IC 28-1-30.(b) A savings bank described in subsection (a) is governed by IC 28-13 in addition to this article.(c) A reference in this article to formation and operation by a board means formation by conversion and operation by an elected board of directors.(d) As to a mutual savings bank, a reference in IC 28-13-5, IC 28-13-6, IC 28-1-7, IC 28-1-7.1, IC 28-1-8, or IC 28-1-9 to shareholders and shareholders' meetings means members and members' meetings.(e) Notwithstanding subsection (d), in a proposed disposition described in IC 28-1-8-3(b), the rights and remedies for dissenting shareholders set forth in IC 28-1-7-21 do not apply.As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994, SEC.94; P.L.192-1997, SEC.13; P.L.62-1999, SEC.3; P.L.27-2012, SEC.81; P.L.13-2013, SEC.73.
IN Code § 28-6.1-2-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-1. Application of Definitions

Sec. 1. The definitions in this chapter apply throughout this article.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-2-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-2. Board

Sec. 2. "Board" refers to either of the following:(1) If the savings bank was organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993, the term refers to the board of trustees of the savings bank.(2) If the savings bank is not described by subdivision (1), the term refers to the board of directors of the savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-2-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-3. Department

Sec. 3. "Department" refers to the department of financial institutions established by IC 28-11-1-1.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-2-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-4. Member

Sec. 4. "Member" means a deposit account holder or borrower in a mutual savings bank formed as a result of a conversion under IC 28-1-21.7 after December 31, 1992.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-2-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-5. Mutual Savings Bank

Sec. 5. "Mutual savings bank" means a savings bank that is:(1) governed by members; and(2) formed as the result of a conversion under IC 28-1-21.7 after December 31, 1992.As added by P.L.42-1993, SEC.72. Amended by P.L.262-1995, SEC.66.
IN Code § 28-6.1-2-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-6. Savings Bank

Sec. 6. "Savings bank" means any of the following:(1) A financial institution organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993.(2) A financial institution formed as the result of a conversion under IC 28-1-21.7, IC 28-1-21.8, or IC 28-1-21.9.(3) A stock savings bank incorporated under IC 28-12.As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994, SEC.95.
IN Code § 28-6.1-2-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-7. Stock Savings Bank

Sec. 7. "Stock savings bank" means a savings bank that is owned by the holders of capital stock and that was:(1) formed as the result of conversion under IC 28-1-21.8 or IC 28-1-21.9 after December 31, 1992; or(2) incorporated under IC 28-12.As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994, SEC.96.
IN Code § 28-6.1-2-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 2. Definitions|28-6.1-2-8. Trustee

Sec. 8. "Trustee" refers to a member of the board of a savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-1. Application of Chapter

Sec. 1. This chapter applies only to a savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-2. "Court"

Sec. 2. As used in this chapter, "court" refers to the circuit court, superior court, or probate court of the county in which the savings bank is located.As added by P.L.42-1993, SEC.72. Amended by P.L.84-2016, SEC.124.
IN Code § 28-6.1-3-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-3. Number of Trustees

Sec. 3. The board of trustees of the savings bank must have at least seven (7) but not more than twenty-one (21) trustees.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-4. Qualifications of Trustees

Sec. 4. An individual must have the following qualifications to be a trustee:(1) The individual must be a citizen of Indiana for at least five (5) years before becoming a trustee.(2) The individual must have an equity in real estate:(A) located in the county in which the savings bank is located; and(B) worth at least five thousand dollars ($5,000), the value of which is determined by two (2) individuals designated by the court.(3) The individual must in all respects be a suitable individual to be entrusted with the management of a savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-5. Vacancies; Elections; Qualifications of Successors

Sec. 5. (a) A vacancy on the board of the savings bank is created if any of the following applies to a trustee:(1) The trustee dies.(2) The trustee resigns.(3) The trustee is unable to discharge duties because of incapacity.(4) The trustee moves from the county where the saving bank is located.(5) The trustee becomes insolvent.(6) The trustee fails for nine (9) successive months to attend the regular meetings of the board.(b) The remaining trustees shall fill a vacancy created under subsection (a) by electing a successor by ballot.(c) An election under subsection (b) may be held at a regular meeting of the board or at a special meeting of which the remaining trustees have been given notice.(d) A successor is elected upon a majority vote of the remaining trustees.(e) A successor must possess the qualifications set forth in section 4 of this chapter.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-6. Vacancies; Judicial Appointments

Sec. 6. (a) If the board fails to fill a vacancy under section 5 of this chapter for three (3) months after the vacancy is created, the court shall, subject to subsection (b), appoint an individual qualified under this chapter to fill the vacancy.(b) The court shall fill the vacancy upon the written request of:(1) any three (3) trustees; or(2) at least two percent (2%) of the depositors in the savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-7. Vacancies; Successors' Certificates of Qualification and Fitness

Sec. 7. (a) An individual elected or appointed to fill a vacancy shall obtain from the court a certificate of qualification and fitness before the individual may enter upon duties as a trustee.(b) A certificate issued under subsection (a) shall be:(1) recorded in the journal of the proceedings of the savings bank; and(2) be filed with the department.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-8. Presidents; Officers and Agents

Sec. 8. (a) The trustees of the savings bank shall elect from among the trustees a president.(b) The trustees may choose from among the trustees, or otherwise, other officers or agents the trustees consider necessary to conduct the business of the savings bank.(c) The officers and agents hold their offices at the pleasure of the board and until their successors are chosen and qualified.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-9. Bylaws, Rules, and Regulations

Sec. 9. (a) Subject to Indiana law, the board of a savings bank may from time to time make bylaws, rules, and regulations as the board considers proper for the following purposes:(1) Election of officers.(2) Prescribing the powers and duties of the officers.(3) The manner of discharging the powers and duties of the officers.(4) Appointment of committees.(5) Prescribing the duties of committees.(6) Generally for transacting the business of the corporation.(b) The board shall send a copy of bylaws, rules, and regulations and any amendments to the bylaws, rules, or regulations to the auditor of state.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-10. Quorum

Sec. 10. (a) A quorum of the board of a savings bank consists of at least a majority of the trustees.(b) Except as provided in subsection (c), the president or a vice president of the board must be present for a quorum to exist. Notwithstanding subsection (c), if the number of trustees is fifteen (15) or more, a quorum must consist of at least seven (7) trustees, with the president or a vice president present.(c) The board may provide in the bylaws that the quorum consists of more than a majority of the trustees. If the bylaws provide for a quorum of nine (9) or more trustees, the bylaws may provide that a quorum exists without the presence of the president or a vice president of the board.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-11. Reducing Number of Trustees

Sec. 11. (a) The board of a savings bank may, by resolution incorporated in the bylaws of the savings bank, reduce the number of trustees to a number not less than the minimum number required by section 3 of this chapter.(b) If the board adopts a resolution under subsection (a), the number of trustees may be reduced by not filling vacancies on the board as vacancies occur until the number of trustees reaches the number set in the resolution.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-12. Increasing Number of Trustees

Sec. 12. (a) Subject to section 3 of this chapter, the board of a savings bank may, by resolution incorporated in the bylaws of the savings bank, increase the number of trustees.(b) The board may adopt a resolution under subsection (a) at any time.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-13. Meetings

Sec. 13. (a) The board shall hold regular meetings at least every three (3) months.(b) The board may provide in the bylaws of the savings bank for:(1) regular meetings more frequent than required by subsection (a); and(2) the calling of special meetings.(c) The board shall keep minutes of the proceedings of each meeting in a record provided for that purpose.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-3-14 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 3. The Board of Trustees of Savings Banks Organized, Reorganized, or Operating Before January 1, 1993|28-6.1-3-14. Suspension of Trustees

Sec. 14. (a) The auditor of state may at any time, by an order under the seal of the auditor of state, for due cause stated in the order, suspend a trustee from the board.(b) Upon the application of two-thirds (2/3) of the trustees of a savings bank setting forth good reasons for the action in regard to a trustee, the auditor of state shall issue the order.(c) Upon issuing an order under this section, the auditor of state shall send a copy of the order to each of the following:(1) The savings bank. The order shall be entered in full in the minutes of the savings bank.(2) To the suspended trustee. Upon request of the trustee, the auditor of state shall send the original order to the trustee.(3) To the judge of the court.(d) The judge of the court, after giving proper notice to the trustee and an opportunity for the trustee to be heard in the trustee's defense, may vacate or confirm the order. Confirmation of an order under this subsection operates to remove the trustee from office.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-4-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 4. Board Members, Officers, and Employees|28-6.1-4-1. Compensation

Sec. 1. A savings bank may pay its officers, board members, and employees reasonable compensation for services rendered that the board of the savings bank determines.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-4-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 4. Board Members, Officers, and Employees|28-6.1-4-2. Group Insurance; Retirement and Pension Plans

Sec. 2. A savings bank may purchase group insurance and provide retirement or pension plans for its officers and employees, with or without the officers' or employees' participation in the cost of the insurance or plans.As added by P.L.42-1993, SEC.72.