reglab/housing_qa huggingface dataset:
IN Code § 28-1-13-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-6. Extension of Credit to Officers, Directors, or Principal Shareholders; Compliance With Federal Restrictions

Sec. 6. Any bank or trust company may extend credit to an officer, a director, or a principal shareholder in accordance with the restrictions and provisions of Regulation O of the Board of Governors of the Federal Reserve System (12 CFR 215).Formerly: Acts 1933, c.40, s.200; Acts 1935, c.5, s.36; Acts 1937, c.33, s.28; Acts 1943, c.148, s.1; Acts 1955, c.25, s.1; Acts 1969, c.280, s.5. As amended by Acts 1977, P.L.291, SEC.1; Acts 1978, P.L.2, SEC.2808; Acts 1981, P.L.250, SEC.1; P.L.265-1983, SEC.2; P.L.144-1984, SEC.1; P.L.14-1992, SEC.91.
IN Code § 28-1-13-7.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-7.1. State Chartered Banks; Real Estate Loans

Sec. 7.1. (a) As used in this section, "federally chartered bank" means a bank that was incorporated under 12 U.S.C. 21 et seq. and is doing business in Indiana.(b) As used in this section, "rollover mortgage" means a loan that:(1) is secured by a first mortgage on real estate improved by:(A) a dwelling for one (1) to four (4) families; or(B) a combination home and business building; and(2) may be subject to rate adjustments at regularly scheduled times.(c) As used in this section, "state chartered bank" means a bank that was incorporated under the laws of Indiana and is doing business in Indiana. The term includes a savings bank organized under the laws of Indiana.(d) A state chartered bank may make, arrange, purchase, or sell loans or extensions of credit secured by liens or interests in real estate as:(1) may be so made, arranged, purchased, or sold by a federally chartered bank under a federal law or regulation; or(2) prescribed by order of the department or by a rule adopted by the department under IC 4-22-2.(e) In addition to loans authorized by subsection (d), a state chartered bank may make rollover mortgage loans. A rollover mortgage loan made by a state chartered bank is subject to the following requirements and restrictions:(1) At each scheduled adjustment time, if the loan is not then in default, the lender shall make rate adjustments available for the amount of the outstanding loan for the remaining term of the loan.(2) Any adjustment in the loan must be made without administrative charges to the borrower.(3) Scheduled adjustments of the loan must be at least one (1) year apart.(4) The lender may not charge any penalty or other assessment for the prepayment of the loan by the borrower at the time of any adjustment.(5) At each scheduled adjustment time, the lender and the borrower may agree to increase or decrease the interest rate applicable to the outstanding balance of the loan.(6) At the option of the lender, the borrower may be granted the option to extend the amortization period for purposes of calculating monthly payments on the loan in accordance with the following rules:(A) The extension of the amortization period may equal up to one-third (1/3) of the original amortization period, irrespective of whether this extends the amortization period beyond thirty (30) years.(B) To the extent of any extension of the amortization period, the amortization period will be reduced upon a subsequent downward adjustment in the interest rate.(f) The department may adopt an emergency rule under IC 4-22-2-37.1 to implement this section.As added by P.L.33-1991, SEC.16. Amended by P.L.42-1993, SEC.30; P.L.45-1995, SEC.20.
IN Code § 28-1-13-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-8. Loans on Security of Own Shares; Acquisition of Shares; Disposition

Sec. 8. No bank or trust company shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss under a debt previously contracted in good faith; and stock so purchased or acquired shall, within six (6) months from the time of its purchase, be sold or disposed of at public or private sale, unless otherwise ordered by the department.Formerly: Acts 1933, c.40, s.202.
IN Code § 28-1-13-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-10. Prohibition Against Accepting Compensation for Procuring Loan; Exception for Bona Fide Employment or Compensation Agreements

Sec. 10. (a) Except as otherwise provided, and subject to subsection (b), an officer, director, owner, partner, employee, or attorney of any bank or trust company who stipulates for, receives, or consents or agrees to receive, any fee, commission, gift, or thing of value, from any person, for the purpose of procuring or endeavoring to procure for any person any loan from or the purchase or discount of any paper, note, draft, check, or bill of exchange by the bank or trust company, commits a Class A misdemeanor.(b) The prohibitions set forth in subsection (a) do not apply to a bank's or a trust company's:(1) bona fide employment agreements, including benefit or compensation plans; or(2) compensation agreements with third party independent contractors.Formerly: Acts 1933, c.40, s.204. As amended by Acts 1978, P.L.2, SEC.2809; P.L.159-2017, SEC.32.
IN Code § 28-1-13-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-11. Reduction of Existing Obligations Held in Excess of Limitations

Sec. 11. Except as otherwise provided in this chapter, any bank or trust company which holds obligations of indebtedness in violation of the limitations prescribed in this chapter shall, not later than July 1, 1936, cause the amount of such obligations to conform to the limitations prescribed by this article and by the provisions of this chapter. The department may, in its discretion, extend the time for effecting such conformity, in individual instances, if the interests of the depositors will be protected and served by such extension. Upon the failure of any bank or trust company to comply with such limitations, in accordance with the terms of this section or in accordance with any order of the department with relation to such limitations, the department may declare that such bank or trust company is conducting its business in an unauthorized or unsafe manner and proceed in accordance with IC 28-1-3.1-2.Formerly Acts 1933, c.40, s.205. Amended by P.L.263-1985, SEC.68.
IN Code § 28-1-13-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-12. Loans or Credit to Student Loan Marketing Association; Applicability of Capital and Surplus Limitation

Sec. 12. Loans or extensions of credit to the Student Loan Marketing Association are not subject to any limitation based on capital and surplus.As added by P.L.14-1992, SEC.92.
IN Code § 28-1-13-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 13. Loans and Investments of Banks and Trust Companies|28-1-13-13. Applicability of Federal Regulations

Sec. 13. The department may apply the provisions of 12 CFR 32 in the application and administration of this chapter.As added by P.L.14-1992, SEC.93.
IN Code § 28-1-15-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 15. Statements of Condition of Banks and Trust Companies|28-1-15-1. Statement of Condition

Sec. 1. The department may require every bank and trust company to prepare, submit and publish as many statements of condition as may be deemed necessary, in any year, but not more than four (4) statements during any year. Such statements of condition shall be verified and shall be prepared and submitted according to the forms and pursuant to such notice and on such dates as the department may designate.Formerly: Acts 1933, c.40, s.211; Acts 1935, c.5, s.38. As amended by P.L.192-2003, SEC.4.
IN Code § 28-1-15-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 15. Statements of Condition of Banks and Trust Companies|28-1-15-2. Publication of Statement of Condition

Sec. 2. Every bank and trust company shall, when required by the department, publish its statement of condition in the form in which it is required by the department, as prescribed in section 1 of this chapter. Such statement of condition shall be published in a newspaper printed and published in the city or town in which such bank or trust company has its principal office, if a newspaper be printed in such city or town or, if no newspaper be printed in such city or town, then in the newspaper printed and published in the city or town nearest thereto in the same county or in an adjoining county. All such statements of condition shall be published at the expense of the bank or trust company making such statement, and such proof of publication shall be furnished the department as it may require.Formerly: Acts 1933, c.40, s.212. As amended by P.L.263-1985, SEC.69.
IN Code § 28-1-15-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 15. Statements of Condition of Banks and Trust Companies|28-1-15-3. Furnishing Information on Condition of Bank or Trust Company to Federal Agencies

Sec. 3. The department may furnish to the federal reserve board, to the federal reserve bank of which a bank or trust company may be or may become a member, to the Federal Deposit Insurance Corporation, to any other like agency of the federal government approved by the department, or to the examiners duly appointed by the federal reserve board, by a federal reserve bank, by the Federal Deposit Insurance Corporation, or any other like agency of the federal government approved by the department, copies of all examinations of the bank or trust company which is or may become a member of the federal reserve bank system, or whose deposits are or may become insured by the Federal Deposit Insurance Corporation, and may disclose to the examiners any information in reference to the condition of the affairs of the bank or trust company which is or may become a member of the federal reserve bank system, or whose deposits are or may become insured by the Federal Deposit Insurance Corporation.Formerly: Acts 1933, c.40, s.213; Acts 1935, c.5, s.39. As amended by P.L.8-1991, SEC.14.
IN Code § 28-1-15-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 15. Statements of Condition of Banks and Trust Companies|28-1-15-4. Violation; Penalty; Recovery

Sec. 4. Any bank or trust company which shall fail to prepare and submit any statement of condition required by the department, and any bank or trust company which shall violate any order of the department with respect to such statement or statements, shall be subject to a penalty of one hundred dollars ($100) for each day that shall elapse after the date fixed by the department for compliance with the terms of its notice concerning statements of condition. The penalty prescribed under this section may be recovered in any court of competent jurisdiction, in an action by the state of Indiana, on the relation of "The Department of Financial Institutions" and when so recovered, such penalty shall be paid into the general fund of the state treasury.Formerly: Acts 1933, c.40, s.214. As amended by P.L.136-2018, SEC.208.
IN Code § 28-1-18.2-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-1. "Affiliate" Defined; Scope of Term

Sec. 1. (a) As used in this chapter, "affiliate" means any of the following:(1) Any company that controls a bank and any other company that is controlled by the company that controls a bank.(2) A bank subsidiary of a bank.(3) Any company:(A) that is controlled directly or indirectly, by a trust or otherwise, by or for the benefit of shareholders who beneficially or otherwise control, directly or indirectly, by trust or otherwise, the bank or any company that controls the bank; or(B) in which a majority of its directors or trustees constitute a majority of the persons holding any such office with a bank or any company that controls the bank;(4) Any:(A) company, including a real estate investment trust, that is sponsored and advised on a contractual basis by the bank or any subsidiary or affiliate of the bank; or(B) investment company with respect to which a bank or any affiliate of a bank is an investment advisor (as defined in section 2(a)(20) of the Investment Company Act of 1940 (15 U.S.C. 80a)).(5) Any company that the department determines by regulation or order to have a relationship with the bank or any subsidiary or affiliate of the bank, such that covered transactions by the bank or its subsidiary with that company may be affected by the relationship to the detriment of the bank or its subsidiary.(b) The term "affiliate" does not include the following:(1) Any company, other than a bank, that is a subsidiary of a bank, unless a determination is made under section 1(a)(5) of this chapter not to exclude such subsidiary company from the definition of affiliate.(2) Any company engaged solely in holding the premises of the bank.(3) Any company engaged solely in conducting a safe deposit business.(4) Any company engaged solely in holding obligations of the United States or its agencies or obligations fully guaranteed by the United States or its agencies as to principal and interest.(5) Any company where control results from the exercise of rights arising out of a bona fide debt previously contracted, but only for the period of time specifically authorized under applicable state or federal law or regulation, or in the absence of such law or regulation, for a period of two (2) years from the date of the exercise of such rights or the effective date of the act, whichever date is later, subject, upon application, to authorization by the department for good cause shown of extensions in the aggregate shall not exceed three (3) years.As added by P.L.33-1991, SEC.18. Amended by P.L.14-1992, SEC.94.
IN Code § 28-1-18.2-1.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-1.1. "Company" Defined

Sec. 1.1. As used in this chapter, "company" means a corporation, limited liability company, partnership, business trust, association, or similar organization. Unless specifically excluded, the term includes a bank.As added by P.L.14-1992, SEC.95. Amended by P.L.8-1993, SEC.441.
IN Code § 28-1-18.2-1.2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-1.2. "Subsidiary" Defined

Sec. 1.2. As used in this chapter, "subsidiary" with respect to a specified company means a company that is controlled by the specified company.As added by P.L.14-1992, SEC.96.
IN Code § 28-1-18.2-1.3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-1.3. Control Over Another Company; Fiduciary Ownership or Control of Shares

Sec. 1.3. (a) A company or shareholder is considered to have control over another company if:(1) the company or shareholder, directly or indirectly, or acting through at least one (1) other person owns, controls, or has power to vote at least twenty-five percent (25%) of any class of voting securities of the other company;(2) the company or shareholder controls in any manner the election of a majority of the directors or trustees of the other company; or(3) the department determines, after notice and opportunity for hearing, that the company or shareholder, directly or indirectly, exercises a controlling influence over the management or policies of the other company.(b) Notwithstanding any other provision of this chapter, a company is not considered to own or control another company by virtue of its ownership or control of shares in a fiduciary capacity, except as provided in subsection (a)(3) or if the company owning or controlling the shares is a business trust.As added by P.L.14-1992, SEC.97.
IN Code § 28-1-18.2-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-2. Statement of Financial Condition; Requirements; Extension of Time; Additional Statements; Penalty for Failure to Furnish Statement

Sec. 2. (a) Within thirty (30) days after receipt of a request from the department, a bank or trust company shall furnish to the department a statement of financial condition of the affiliates identified in the request.(b) The statements furnished under subsection (a) must:(1) be dated at least six (6) months apart; and(2) contain the information that in the judgment of the department:(A) is necessary to disclose fully the relations between the affiliate and the bank or trust company; and(B) will enable the department to inform itself as to the effect of the relations upon the affairs of the bank or trust company.(c) The department may, for good cause shown, extend the time for furnishing the statements requested under subsection (a).(d) The department may request additional statements of financial condition with respect to an affiliate when, in its judgment, additional statements are necessary to obtain a full and complete knowledge of the conditions of the bank or trust company with which it is affiliated. Additional statements of condition shall be transmitted to the department in the form prescribed by the department.(e) If a bank or trust company fails to furnish a statement of condition of an affiliate that may be required under this article, that bank or trust company is subject to a penalty of one hundred dollars ($100) for each day during which the failure continues. The department may recover a penalty imposed by this subsection in a court of competent jurisdiction.As added by P.L.33-1991, SEC.18.
IN Code § 28-1-18.2-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-3. Examination; Report on Failure to Comply With Department's Recommendations or Suggestions

Sec. 3. (a) In making the examination of a bank or trust company, the department shall include an examination of the affairs of all the bank or trust company's affiliates necessary to disclose fully the relations between the bank or trust company and its affiliates, and the effect of those relations upon the affairs of the bank or trust company.(b) The department may publish the report of its examination of a bank or trust company, or an affiliate, which has not, within one hundred and twenty (120) days after notification of the recommendations or suggestions of the department, based on the examination, complied with the recommendations or suggestions to the department's satisfaction. The department must give the bank or trust company or the affiliate ninety (90) days notice prior to publication of a report under this subsection.As added by P.L.33-1991, SEC.18.
IN Code § 28-1-18.2-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-4. Powers of Department; Assessment of Expenses; Penalty for Refusal to Permit Examination

Sec. 4. (a) In making the examination of an affiliate of a bank or trust company, the department has the same powers with respect to the examination as are conferred upon it in the examination of the affairs of a bank or trust company by IC 28-11-3.(b) The expenses incurred in making examinations of affiliates may be assessed by the department upon the affiliates examined, in proportion to the assets or resources held by the affiliates, upon the days of examination of the various affiliates, and in the manner and at the rate as fixed and prescribed by the department under IC 28-11-3-5.(c) If an affiliate refuses to pay expenses assessed under subsection (b), or fails to do so within sixty (60) days after the date of the assessment, the expenses may be assessed against the affiliated bank or trust company, and, when so assessed, must be paid by that bank or trust company.(d) If an affiliate of a bank or trust company refuses to permit the department to make an examination, the bank or trust company with which the affiliate is affiliated is subject to a penalty of not more than one hundred dollars ($100) for each day that the refusal continues. The penalty may be assessed by the department and collected in the same manner as expenses of examination.As added by P.L.33-1991, SEC.18.
IN Code § 28-1-18.2-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 18.2. Examination of Affiliates|28-1-18.2-5. Applicability of Certain Provisions of Federal Reserve Act and Regulations; Violations

Sec. 5. (a) For purposes of this section, a bank or trust company that is not a member of the Federal Reserve System is subject to Sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c or 371c-1) and Federal Reserve Regulation W (12 CFR 223) to the same extent and in the same manner as though it were a member of the Federal Reserve System.(b) A violation of Section 23A or 23B of the Federal Reserve Act (12 U.S.C. 371c or 371c-1) or Federal Reserve Regulation W (12 CFR 223) by a bank or trust company or a subsidiary of either constitutes a violation of this section.As added by P.L.33-1991, SEC.18. Amended by P.L.141-2005, SEC.8.