reglab/housing_qa huggingface dataset:
IN Code § 28-11-4-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 4. Enforcement Powers of the Department|28-11-4-9. Civil Penalty

Sec. 9. (a) A civil penalty imposed on a director or an officer under section 7 of this chapter may not exceed one thousand dollars ($1,000) per day for each practice, violation, or act found to exist in the final order.(b) In determining the amount of a civil penalty assessed under section 7 of this chapter, the following factors shall be considered:(1) The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.(2) The gravity of the practice, violation, or act.(3) The history of previous practices, violations, or acts.(4) The economic benefit derived by the individual from the practice, violation, or act.(5) Other factors that justice requires.(c) A financial institution may not indemnify a director or an officer for a civil penalty imposed under section 7 of this chapter.(d) Civil penalties shall be deposited in the financial institutions fund established by IC 28-11-2-9.As added by P.L.33-1991, SEC.56. Amended by P.L.89-2011, SEC.71.
IN Code § 28-11-4-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 4. Enforcement Powers of the Department|28-11-4-10. Enforcement of Orders, Agreements, and Conditions

Sec. 10. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction:(1) An order issued under this chapter.(2) A written agreement entered into by the department or the director and:(A) a financial institution; or(B) any director, officer, employee, or agent of the financial institution.(3) Any condition imposed in writing by the department or the director on:(A) a financial institution; or(B) any director, officer, employee, or agent of the financial institution;in connection with any application, notice, or request concerning the financial institution.As added by P.L.33-1991, SEC.56. Amended by P.L.90-2008, SEC.72; P.L.35-2010, SEC.202.
IN Code § 28-11-4-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 4. Enforcement Powers of the Department|28-11-4-11. Persons Suspended or Prohibited From Participation

Sec. 11. An individual who:(1) is suspended or prohibited from participating in the conduct of the affairs of a financial institution under section 6 or 7 of this chapter; and(2) after the suspension or prohibition knowingly or intentionally participates, directly or indirectly, in the management of the financial institution;commits a Level 6 felony.As added by P.L.33-1991, SEC.56. Amended by P.L.35-2010, SEC.203; P.L.158-2013, SEC.302.
IN Code § 28-11-4-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 4. Enforcement Powers of the Department|28-11-4-12. Enforcement Powers Exercised Against Affiliate of Financial Institution

Sec. 12. (a) The director of the department may exercise the enforcement powers of this chapter against an affiliate of a financial institution, or against an officer, a director, or an employee of the affiliate, as if the affiliate were a financial institution if the director determines that a practice of the affiliate, or of the officer, director, or employee, could cause either:(1) the financial institution to suffer substantial loss or other damage; or(2) the interests of the financial institution's depositors to be seriously prejudiced by reason of a violation, practice, or breach of fiduciary duty.(b) In exercising the director's enforcement powers under this chapter against an officer, a director, or an employee of an affiliate, the director may:(1) remove the officer, director, or employee from the person's office, position, or employment;(2) prohibit any participation by the officer, director, or employee in the conduct of the affairs of any financial institution; or(3) take both of the actions set forth in subdivisions (1) and (2).(c) The director of the department may issue and serve upon the officer, director, or employee of the affiliate a notice of charges of the practice, violation, or act.(d) For purposes of this section, affiliate has the meaning set forth in IC 28-1-18.2.As added by P.L.215-1999, SEC.8. Amended by P.L.90-2008, SEC.73.
IN Code § 28-11-5-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-1. Application of Chapter

Sec. 1. This chapter applies to the following financial institutions:(1) A bank.(2) A savings association.(3) A credit union.(4) A savings bank.(5) A trust company.(6) A corporate fiduciary.As added by P.L.42-1993, SEC.91. Amended by P.L.262-1995, SEC.78; P.L.79-1998, SEC.86.
IN Code § 28-11-5-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-2. Approval of Articles of Incorporation and Organization and Establishment of Financial Institutions

Sec. 2. (a) A financial institution may not be organized, incorporated, or engage in business in Indiana until the department has approved the following:(1) The articles of incorporation of the proposed financial institution.(2) The organization and establishment of the financial institution in the city or town in which the incorporators propose to establish the financial institution.(b) A person who violates this section commits a Class A misdemeanor.As added by P.L.42-1993, SEC.91.
IN Code § 28-11-5-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-3. Applications to Establish Financial Institutions

Sec. 3. (a) A request to establish a financial institution must be set forth in an application:(1) prescribed by the department; and(2) containing the information required by the department.(b) Within twenty (20) business days after receiving an application under this section, the department shall:(1) accept the application for processing;(2) request additional information to complete the application; or(3) return the application if it is incomplete.As added by P.L.42-1993, SEC.91. Amended by P.L.122-1994, SEC.111.
IN Code § 28-11-5-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-4. Investigation of Applicant; Disapproval of Application; Submission of Fingerprints

Sec. 4. (a) Upon the acceptance of an application under section 3 of this chapter, the department shall investigate and consider all of the following:(1) The financial standing and character of the incorporators, organizers, directors, principal shareholders, or controlling corporations.(2) The character, qualifications, and experience of the officers and directors of the proposed financial institution.(3) The future earnings prospects for the proposed financial institution.(4) The adequacy of the financial institution's proposed capital, if the financial institution is to be a bank, trust company, corporate fiduciary, or savings bank.(b) The members of the department may disapprove the application if:(1) any of the factors listed in subsection (a) are determined to be unfavorable;(2) any of the incorporators, directors, principal shareholders, or officers of the proposed financial institution have been convicted of a felony under Indiana law, the laws of any other state, or the laws of the United States; or(3) the applicant has knowingly or intentionally submitted an application under this chapter that contains false information.(c) The applicant shall submit to the department or to the Indiana state police, as appropriate, two (2) sets of fingerprints for each incorporator, director, principal shareholder, and officer, if requested by the department under section 4.5 of this chapter.As added by P.L.42-1993, SEC.91. Amended by P.L.122-1994, SEC.112; P.L.262-1995, SEC.79; P.L.192-1997, SEC.24; P.L.90-2008, SEC.74.
IN Code § 28-11-5-4.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-4.5. Background Checks; Fingerprints

Sec. 4.5. (a) To obtain additional information for the purposes of section 4 of this chapter, the director may require:(1) criminal background checks, including a national criminal history background check (as defined in IC 10-13-3-12) by the Federal Bureau of Investigation;(2) credit histories; and(3) other background checks considered necessary by the director;for any incorporator, director, principal shareholder, or officer of a proposed financial institution.(b) If the director requests a national criminal history background check under subsection (a) for any individual described in subsection (a), the director shall require the individual to submit fingerprints to the department or to the state police department, as appropriate. The individual to whom the request is made shall pay any fees or costs associated with the fingerprints and the national criminal history background check. A national criminal history background check conducted under subsection (a) may be used by the department to:(1) conduct an investigation under section 4(a)(1) or 4(a)(2) of this chapter; or(2) disapprove an application under section 4(b)(2) of this chapter.The director or the department may not release the results of the national criminal history background check to any private entity.As added by P.L.192-1997, SEC.25. Amended by P.L.90-2008, SEC.75.
IN Code § 28-11-5-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-5. Hearings on Applications

Sec. 5. (a) The department may hold a hearing to determine whether to approve an application filed under section 3 of this chapter.(b) A hearing may not be held until ten (10) days after the date of the publication of the notice required by section 6 of this chapter.(c) If the department holds a hearing under this section, the hearing must be held within ninety (90) days after the application is accepted by the department for processing.As added by P.L.42-1993, SEC.91. Amended by P.L.122-1994, SEC.113.
IN Code § 28-11-5-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-6. Notice of Applications Subject to Hearings

Sec. 6. (a) If a public hearing is held under section 5 of this chapter, the applicant shall give notice of the application by publication one (1) time in a newspaper of general circulation in the city or town in which the applicant proposes to establish the financial institution. If a newspaper is not published in the city or town, the notice shall be published in one (1) newspaper of general circulation published in the county in which the city or town is located.(b) The notice required by this section must state the following:(1) The fact that the application has been filed.(2) The names of the applicants.(3) The place where the applicants propose to establish the financial institution.(4) The date and place of the hearing.(5) Other facts the department considers relevant.As added by P.L.42-1993, SEC.91.
IN Code § 28-11-5-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-7. Hearing Procedures

Sec. 7. (a) This section applies only if the department holds a hearing under section 5 of this chapter.(b) At the time and place designated in the notice, any of the following may conduct the hearing:(1) All the members of the department.(2) Any number of the members.(3) The director of the department.(4) A deputy director of the department.(5) The supervisor in charge of the division of the department that would have jurisdiction of the financial institution, if it is established.(c) Any person who is interested may appear and be heard, either in person or by the person's attorney.(d) A report of the hearing, in the form and detail the department prescribes, shall be prepared and filed in the department.As added by P.L.42-1993, SEC.91. Amended by P.L.122-1994, SEC.114.
IN Code § 28-11-5-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-8. Approval or Disapproval of Applications

Sec. 8. Within a reasonable time after the application is accepted by the department for processing, but not more than one hundred twenty (120) days from the later of:(1) the date on which the application is accepted by the department; or(2) the date on which the hearing is held, if a hearing is held;the department shall either approve or disapprove the application.As added by P.L.42-1993, SEC.91. Amended by P.L.122-1994, SEC.115.
IN Code § 28-11-5-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-9. Payment of Expenses

Sec. 9. (a) The applicants shall pay all expenses incurred by the department in performing its duty under this chapter.(b) At the time of filing the application, the applicants shall deposit with the department the amount of money fixed by the department necessary to defray the expenses incurred by the department in implementing this chapter with respect to the application.(c) The department shall return to the applicants any balance remaining after proceedings under this chapter are completed.As added by P.L.42-1993, SEC.91.
IN Code § 28-11-5-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 11. Department of Financial Institutions|Chapter 5. Department Oversight of Organization of a Financial Institution|28-11-5-10. Financial Institutions Organized as Limited Liability Companies; Treatment as Financial Institution Organized in Stock Form; Exclusive Authority of Department to Regulate; Prior Approval of Department Required

Sec. 10. (a) Subject to subsection (g), a financial institution described in section 1 of this chapter that is subject to this chapter may:(1) be organized as a limited liability company;(2) convert to a limited liability company; or(3) merge with or into a limited liability company;under the laws of Indiana or the United States, including any rules or regulations adopted or promulgated under the laws of Indiana or the United States.(b) A financial institution organized as a limited liability company is subject to:(1) IC 23-18; and(2) this title.If a provision of IC 23-18 conflicts with a provision of this title or with any rule of the department, the provision of this title or the rule of the department controls.(c) Any filing required to be made under IC 23-18 shall be made in the same manner as for a financial institution that is organizing or is organized in stock form.(d) The department may prescribe any requirements for:(1) the articles of organization; and(2) the operating agreement;of a financial institution that is organized and operates as a limited liability company.(e) The department has the exclusive authority under this title to regulate a financial institution organized as a limited liability company. A financial institution that is a limited liability company is subject to the department's authority in the same manner as a bank that is organized in stock form.(f) A financial institution that is a limited liability company is subject to the provisions of this title that apply to banks, except for the provisions concerning corporate governance (IC 28-13), in the same manner as a financial institution that is organized in stock form, subject to the following:(1) In the case of a manager managed limited liability company, "director" means a manager of the limited liability company.(2) In the case of a member managed limited liability company, "director" means a member of the limited liability company.(g) A financial institution may not:(1) organize as;(2) convert to; or(3) merge with or into;a limited liability company without the prior approval of the department under this title.As added by P.L.90-2008, SEC.76. Amended by P.L.27-2012, SEC.108; P.L.13-2013, SEC.74.
IN Code § 28-12-1-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 1. Incorporation|28-12-1-1. Incorporators; Articles, Execution, Delivery, and Filing

Sec. 1. One (1) or more individuals, all of whom are at least eighteen (18) years of age and at least a majority of whom are citizens of Indiana, may act as the incorporator of a corporation (as defined in IC 28-10-1-3) by doing all of the following:(1) Signing and acknowledging before a notary public four (4) copies of the articles of incorporation.(2) Delivering to the department for approval the four (4) copies of the articles of incorporation, and the application and other items required by IC 28-12-4.(3) Filing the articles of incorporation with the secretary of state after the articles are approved by the department.As added by P.L.14-1992, SEC.162. Amended by P.L.262-1995, SEC.80.
IN Code § 28-12-1-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 1. Incorporation|28-12-1-2. Form of Articles

Sec. 2. The department shall prescribe the form of the articles of incorporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-2-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 2. Articles of Incorporation|28-12-2-1. Articles of Incorporation; Contents

Sec. 1. The articles of incorporation must set forth the following:(1) A corporate name for the corporation that satisfies the requirements of IC 28-12-3.(2) The number of shares the corporation is authorized to issue.(3) The street address of the corporation's principal office in Indiana.(4) The name and address of each incorporator, unless the articles of incorporation are articles of conversion or articles of restatement under IC 28-13-14-14.(5) The amount of capital with which the corporation will begin business.(6) The names and addresses of the individuals who are to serve as the initial directors.(7) The maximum number of directors.(8) The purpose or purposes for which the corporation is organized.(9) The effective date of the articles of incorporation.As added by P.L.14-1992, SEC.162. Amended by P.L.192-1997, SEC.26; P.L.141-2005, SEC.24.
IN Code § 28-12-2-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 2. Articles of Incorporation|28-12-2-2. Permissible Elements

Sec. 2. The articles may set forth other provisions not inconsistent with law.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-2-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 2. Articles of Incorporation|28-12-2-3. Omission of Corporate Powers

Sec. 3. The articles of incorporation need not set forth any of the corporate powers of the corporation.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-3-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 3. Corporate Name|28-12-3-1. Unauthorized Purpose or Power Indicated by Name

Sec. 1. A corporation may not use as a part of its corporate name any word or phrase that indicates or implies any purpose or power not possessed by a corporation that may be organized under this chapter.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-3-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 3. Corporate Name|28-12-3-2. Same or Confusingly Similar Name Prohibited

Sec. 2. The corporate name of the proposed corporation may not be the same as, or confusingly similar to, the name of any other corporation then existing under the laws of Indiana or authorized to transact business in Indiana.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-3-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 3. Corporate Name|28-12-3-3. Necessary Terms

Sec. 3. (a) If the proposed corporation is organized to transact business under IC 28-1-11, the corporate name must include the word "bank", "trust", "banc", "banco", or "bancorp".(b) If the proposed corporation is to be a corporate fiduciary, the corporate name of the corporation must include the word "trust" or "fiduciary".As added by P.L.14-1992, SEC.162. Amended by P.L.262-1995, SEC.81; P.L.79-1998, SEC.87; P.L.10-2006, SEC.76 and P.L.57-2006, SEC.76.
IN Code § 28-12-3-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 3. Corporate Name|28-12-3-4. Change of Name

Sec. 4. Any corporation may, with the prior approval of the department, change its corporate name at any time by amending its articles of incorporation under IC 28-13-14.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-3-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 3. Corporate Name|28-12-3-5. Existing or Authorized Corporations; Inapplicability of Chapter

Sec. 5. This chapter does not affect the right of any corporation that is, as of July 1, 1992, either existing under Indiana law or authorized to transact business in Indiana.As added by P.L.14-1992, SEC.162.
IN Code § 28-12-4-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations|Chapter 4. Submission of Articles of Incorporation|28-12-4-1. Accompanying Terms

Sec. 1. The articles of incorporation submitted to the department for approval must be accompanied by the following:(1) An application in the form prescribed by the department and containing such information as the department may require.(2) The deposit of money in an amount determined by the department to be sufficient to defray the expenses of the department in performing its duties under this chapter.(3) Evidence satisfactory to the department that the corporation has or will have capital in at least the amount of the capital stated in the articles of incorporation.(4) Evidence satisfactory to the department that the corporation is applying for deposit insurance from the Federal Deposit Insurance Corporation or its successor in interest, unless the corporation is being organized solely as a corporate fiduciary.(5) Evidence satisfactory to the department that the corporation has or will have adequate insurance coverage on the date the corporation begins operation.As added by P.L.14-1992, SEC.162. Amended by P.L.262-1995, SEC.82.