reglab/housing_qa huggingface dataset:
IN Code § 28-6.1-4-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 4. Board Members, Officers, and Employees|28-6.1-4-3. Special Service Compensation

Sec. 3. (a) A savings bank that has accumulated a surplus of at least five percent (5%) upon its deposits may pay board members who render special personal service (beyond the ordinary duty of attending meetings and serving upon committees other than of examination) compensation determined by the board.(b) A board member for whom special service compensation is under consideration by the board may not vote upon the question.(c) If, after special compensation is paid to a board member under subsection (a), the savings bank's surplus becomes impaired so as to be less than five percent (5%) of its deposits, the special compensation to the board member shall cease until the surplus is again at least five percent (5%) of deposits.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-4-4.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 4. Board Members, Officers, and Employees|28-6.1-4-4.1. Indemnification of Directors; Application to Banks Formed Before January 1, 1993

Sec. 4.1. (a) The provisions concerning indemnification of directors set forth in IC 28-13-13 shall apply to savings banks formed before January 1, 1993.(b) In the application of IC 28-13-13 to a savings bank formed before January 1, 1993, references in IC 28-13-13 to "directors" and "the board of directors" shall be treated as referring to the trustees and the board of trustees of the savings bank.As added by P.L.122-1994, SEC.97.
IN Code § 28-6.1-5-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 5. Fidelity Coverage for Savings Banks|28-6.1-5-1. Provision of Coverage

Sec. 1. A savings bank shall make provision for adequate fidelity coverage for all officers and employees having access to money or bonds of the savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-5-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 5. Fidelity Coverage for Savings Banks|28-6.1-5-2. Approval of Amount and Form of Coverage

Sec. 2. The amount and form of fidelity coverage must be approved by the board of the savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-5-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 5. Fidelity Coverage for Savings Banks|28-6.1-5-3. Form of Coverage

Sec. 3. Fidelity coverage may be provided in either of the following ways:(1) In the form of a blanket fidelity bond issued by a corporate surety authorized to transact business in Indiana.(2) Through establishment of a separate reserve fund within the savings bank for that purpose.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-1. Discounting, Negotiating, Selling, and Guaranteeing Evidences of Debt

Sec. 1. A savings bank may discount, negotiate, sell, and guarantee promissory notes, bonds, drafts, acceptances, bills of exchange, and other evidences of debt.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-2. Buying and Selling Exchange, Coin, and Bullion

Sec. 2. A savings bank may buy and sell exchange, coin, and bullion.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-3. Loaning Money

Sec. 3. A savings bank may loan money.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-4. Borrowing Money

Sec. 4. A savings bank may borrow money and do the following:(1) Issue notes, bonds, or debentures to evidence that borrowing.(2) Mortgage, pledge, or hypothecate any of its assets to secure the repayment of that money.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-5. Receiving Savings and Demand Deposits

Sec. 5. (a) A savings bank may receive savings deposits and, subject to subsection (b), demand deposits.(b) If a savings bank accepts demand deposits, the savings bank shall establish and maintain the reserve balances prescribed by law applicable to banks and trust companies or by any general rules of the department, when the law, rules, and regulations apply to all banks and trust companies alike.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-6. Receiving Deposits of Securities and Personal Property

Sec. 6. A savings bank may receive deposits of securities or other personal property from any person or corporation, upon terms agreed upon by the parties.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-7. Contracting for and Receiving Highest Rate of Interest

Sec. 7. A savings bank may contract for and receive on loans and discounts the highest rate of interest allowed to be contracted for and received by individuals.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-8. Accepting Drafts for Future Payment; Issuing Letters of Credit

Sec. 8. A savings bank may accept for future payment drafts drawn upon the savings bank by its customers and may issue letters of credit with a specific expiration date authorizing the holders of the letters to draw drafts upon the savings bank or its correspondents at sight or on time.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-9. Exercising General Banking Powers; Issuing Money

Sec. 9. A savings bank may exercise all the powers incidental, proper, necessary, or usual in carrying on a general banking business, but it may not issue bills to circulate as money.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-10. Receiving Deposits of State and Federal Public Funds

Sec. 10. (a) A savings bank may receive deposits of state and federal public funds:(1) on the same terms and conditions;(2) with the same rights and privileges; and(3) subject to the same duties and obligations;as provided by law for banks of discount and deposit, trust companies, and other financial institutions.(b) The power under subsection (a) includes the right to pledge securities or other assets for the repayment of the deposits if the pledge is permitted by applicable law or regulation.As added by P.L.42-1993, SEC.72. Amended by P.L.35-2010, SEC.145.
IN Code § 28-6.1-6-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-11. Acting as Fiscal or Transfer Agent of Government Bodies

Sec. 11. A savings bank may act as a fiscal or transfer agent of the United States or of any state, municipality, body politic or corporate, and in that capacity receive and disburse money.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-12. Transferring, Registering, and Countersigning Certificates of Stock, Bonds, and Other Evidences of Indebtedness

Sec. 12. A savings bank may transfer, register, and countersign certificates of stock, bonds, or other evidence of indebtedness and authenticate and certify the bonds and certificates of indebtedness.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-13. Acting as Agent to Buy and Sell Transportation

Sec. 13. A savings bank may act as an agent to buy and sell domestic and foreign transportation.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-14 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-14. Soliciting and Writing Insurance; Acting as Insurance Producer for Life Insurance or Annuity; Prohibitions; Authority to Purchase and Hold Life Insurance

Sec. 14. (a) A savings bank may solicit and write insurance as an insurance producer or a broker for any insurance company authorized to do business in the state or states where the insurance producer or broker operates.(b) A savings bank or its affiliate (as defined in IC 28-6.2-1-4) may act as an insurance producer for the sale of any life insurance policy or annuity contract issued by a life insurance company (as defined in IC 27-1-2-3) authorized to do business in the state or states where the insurance producer operates.(c) A savings bank or its affiliate that acts as an insurance producer for the sale of a life insurance policy or an annuity contract under subsection (b):(1) is subject to all requirements of IC 27 with respect to the insurance producer's activity in Indiana; and(2) must comply with the disclosure requirements under IC 27-1-38.(d) A savings bank or its affiliate may not condition:(1) an extension of credit;(2) a lease or sale of real or personal property;(3) the performance of a service; or(4) the amount charged for:(A) extending credit;(B) leasing or selling real or personal property; or(C) performing services;upon a person's purchase of a life insurance policy or an annuity contract from the savings bank or its affiliate.(e) This section does not prohibit a savings bank or its affiliate from requiring that a person, as a condition to a transaction, obtain a life insurance policy from an insurance company acceptable to the savings bank or its affiliate.(f) Subject to any limitations or restrictions that the department or a federal regulator may impose by regulation, rule, policy, or guidance, a savings bank may purchase and hold life insurance as follows:(1) Life insurance purchased or held in connection with employee compensation or benefit plans approved by the savings bank's board.(2) Life insurance purchased or held to recover the cost of providing preretirement or postretirement employee benefits approved by the savings bank's board.(3) Life insurance on the lives of borrowers.(4) Life insurance held as security for a loan.(5) Life insurance that a national bank may purchase or hold under 12 U.S.C. 24 (Seventh).As added by P.L.42-1993, SEC.72. Amended by P.L.262-1995, SEC.67; P.L.188-1997, SEC.8; P.L.63-2001, SEC.14 and P.L.134-2001, SEC.16; P.L.130-2002, SEC.7; P.L.178-2003, SEC.92; P.L.10-2006, SEC.36 and P.L.57-2006, SEC.36; P.L.27-2012, SEC.84.
IN Code § 28-6.1-6-15 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-15. Acting as Attorney

Sec. 15. A savings bank may act as an attorney in fact or agent of any foreign or domestic person or corporation for any lawful purpose.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-16 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-16. Receiving Personal Property for Deposit

Sec. 16. (a) A savings bank may do the following:(1) Receive upon deposit for safekeeping or in escrow, money, bonds, mortgages, jewelry, plate, stock, securities, valuable papers of any kind, and other personal property.(2) Lease receptacles for safe deposits of personal property.(b) The savings bank may prescribe terms and conditions not inconsistent with this section for the receiving or leasing authorized by subsection (a).(c) A savings bank or any of the savings bank's assets are not liable for the value of any property received by the savings bank under the power conferred by this section or for damages for the loss, theft, or misappropriation of the property.(d) A savings bank may procure and carry insurance for the benefit of the owners of property received by the savings bank under the power conferred by this section.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-17 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-17. Acting Under Court Appointment

Sec. 17. A savings bank may act under court appointment as any of the following:(1) Commissioner for the sale of real property.(2) Guardian of the person or estate of an incapacitated person (as defined in IC 29-3-1-7.5), or in other instances where a guardian may be appointed.(3) Trustee, receiver, conservator, or committee of the property or estate of a person or corporation in insolvency or bankruptcy proceedings.(4) Depository of money paid into court, whether for the benefit of a person or corporation.(5) In any other fiduciary capacity.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-18 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-18. Acting in Probate

Sec. 18. (a) A savings bank may do any of the following:(1) Act as the personal representative of the estate of a deceased individual.(2) Act as the trustee under the last will and testament of a deceased individual.(3) Act under court appointment as personal representative or trustee under a last will and testament, when the savings bank is the successor to a corporation appointed in the last will and testament.(b) When an individual is appointed with a savings bank as receiver, guardian, commissioner, trustee, or personal representative, the individual's appointment may be under the limitation of powers and upon the terms and conditions of possession and control of the trust assets by the savings bank, or otherwise. If the individual is required to give bond or security, the bond or security shall be as:(1) the individual and the savings bank agree; and(2) approved by the court or judge making the appointment.(c) When an individual who is appointed in a fiduciary capacity is required to give a bond or security for the faithful performance of duties, the savings bank may guarantee or become surety for the individual if:(1) the savings bank takes possession and control of the assets involved; and(2) approved by the court having jurisdiction of the fiduciary.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-19 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-19. Acting as Guardian, Trustee, or Personal Representative

Sec. 19. (a) A savings bank may act under court appointment as guardian, trustee, or personal representative on the application or consent of a person acting or entitled to act as such and in the place of that person.(b) An appointment under subsection (a) may be made:(1) upon notice required by law to the persons interested in the estate or fund; and(2) with the consent of the principal beneficiaries or other persons interested in the estate or fund;as the court making the appointment considers proper.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-20 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-20. Taking, Accepting, and Executing Trusts

Sec. 20. A savings bank may do any of the following:(1) Take, accept, and execute a legal trust, duties, and powers in regard to:(A) the holding, management, sale, or disposition of property; and(B) the rents and profits from that property;that are granted or confided to the savings bank by any authority.(2) Take, accept, and execute a trust and any powers that may be conferred upon the savings bank by any authority.(3) Generally execute legal trusts of every description.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-21 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-21. Acting in Fiduciary Capacity

Sec. 21. (a) Except as otherwise provided in this article, a savings bank may act:(1) in a fiduciary capacity permitted by this article; and(2) as commissioner for the sale of real estate;without bond or other security.(b) When a savings bank is acting in a fiduciary capacity, the savings bank may administer oaths attested by the signature of the savings bank's secretary or cashier and the savings bank's seal in the same fashion as an individual acting in the same capacity may administer oaths.(c) The court having jurisdiction of the fiduciary may require a bond or other security at any time. Upon failure of the savings bank to give a bond or security as required, the court may remove the savings bank and revoke the savings bank's appointment.(d) A savings bank may not pledge or deposit any of its assets as a condition to the exercise of any of its powers as a fiduciary.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-22 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-22. Receiving Fees, Commissions, Gifts, and Things of Value

Sec. 22. Except as otherwise provided by law, an officer, a trustee, an employee, an agent, or an attorney of a savings bank commits a Class A misdemeanor if the individual stipulates for, receives, or agrees to receive a fee, commission, gift, or thing of value from any person for the purpose of procuring or attempting to procure for any person:(1) a loan from a savings bank; or(2) the purchase or discount of any paper, note, draft, check, or bill of exchange by a savings bank.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-22.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-22.5. Profit or Commission on Sales or Purchases; Necessity of Specific Authorization; Surcharge

Sec. 22.5. (a) Except for interest at the legal rate on a loan or advancement, a savings bank may not, directly or indirectly, receive a profit or commission from the sale to or purchase from an estate, a guardianship, or a trust of which the savings bank is the fiduciary unless the profit or commission is authorized by agreement with the creator of the trust or a court with jurisdiction over the estate, guardianship, or trust.(b) A savings bank that receives a profit or commission in violation of subsection (a) shall be surcharged an amount equal to the profit or commission. In addition, a court with jurisdiction over the estate, guardianship, or trust may remove the savings bank as the fiduciary.As added by P.L.192-2003, SEC.5.
IN Code § 28-6.1-6-23 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-23. Requesting Mergers, Consolidations, and Joinings

Sec. 23. Notwithstanding any other provision of this article, a savings bank may request under IC 28-1-7-25 or IC 28-3-2-10 that the department order its merger, consolidation, or other joining with a bank or trust company organized under IC 28-1 or with a national banking association.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-6-25 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 6.1. Savings Banks|Chapter 6. General Powers of a Savings Bank|28-6.1-6-25. Requirement to Provide Property Tax Information in Certain Transactions

Sec. 25. With respect to a residential real property financing or refinancing, a savings bank shall comply with IC 6-1.1-12-43.As added by P.L.64-2004, SEC.31.
IN Code § 28-6.1-7-1 (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|28-6.1-7-1. Application of Rules

Sec. 1. (a) The powers of a savings bank set forth in this chapter are subject to the rules of the department.(b) A rule adopted under this chapter may apply to one (1) or more savings banks or to one (1) or more localities in Indiana as the department determines.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-2 (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|28-6.1-7-2. Making Fha Loans, Advances of Credit, and Purchases of Obligations

Sec. 2. (a) A savings bank may make loans and advances of credit and purchases of obligations representing loans and advances of credit that are eligible for insurance by the federal housing administrator and to obtain such insurance.(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, advances of credit, or purchases made under this section.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-3 (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|28-6.1-7-3. Making Fha Loans Secured by Mortgages

Sec. 3. (a) A savings bank may 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.(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 made under this section.As added by P.L.42-1993, SEC.72.
IN Code § 28-6.1-7-4 (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|28-6.1-7-4. Purchasing, Investing In, and Disposing of Fha and National Mortgage Association Bonds, Notes, and Debentures

Sec. 4. (a) A savings bank may purchase, invest in, and dispose of any of the following:(1) Notes or bonds secured by mortgage or trust deed insured by the federal housing administrator.(2) Debentures issued by the federal housing administrator.(3) 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 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 purchases, investments, or dispositions made under this section.As added by P.L.42-1993, SEC.72.