reglab/housing_qa huggingface dataset:
IN Code § 28-1-33-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-8. Requirements and Procedures

Sec. 8. (a) Except as provided in section 8.1 of this chapter for the conversion of a mutual savings bank into a federally chartered credit union, the department shall prescribe procedures for charter conversions under this chapter.(b) The procedures prescribed by the department must include the following:(1) The mutual savings bank must prepare and submit to the department a conversion plan that provides the terms and conditions required by the department for a charter conversion under this chapter.(2) The conversion plan must be adopted by not less than a majority of the board of directors of the mutual savings bank.(3) Upon approval of a plan of charter conversion by the board of directors of the savings bank, the conversion plan and a certified copy of the resolution of the board of directors approving the conversion plan must be submitted to the department for approval.(4) The conversion plan must be conditioned upon the approval of not less than a majority of the total number of votes eligible to be cast at a regular or special meeting of the voting parties. The director of the department must approve the method used to notify the voting parties of the meeting held to consider the conversion plan. The director of the department may require the converting mutual savings bank to provide the voting parties with information regarding the conversion plan.(5) The mutual savings bank must provide to the department the additional relevant information requested by the department in connection with the conversion plan.As added by P.L.1-2006, SEC.492. Amended by P.L.213-2007, SEC.53; P.L.217-2007, SEC.51.
IN Code § 28-1-33-8.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-8.1. Conversion to Federally Chartered Credit Union; Requirements; Date of Charter Conversion

Sec. 8.1. (a) A mutual savings bank may convert into a federally chartered credit union by complying with the following requirements:(1) The mutual savings bank must prepare a conversion plan that provides the terms and conditions for the conversion of the mutual savings bank into a federal credit union.(2) The conversion plan must be adopted by not less than a majority of the board of directors of the mutual savings bank.(3) Unless the articles of incorporation require a greater or lesser vote, the conversion plan must be approved by not less than a majority of the total number of votes eligible to be cast at a regular or special meeting of the voting parties.(4) If the conversion plan is approved by the voting parties under subdivision (3), the mutual savings bank shall, not later than ninety (90) days after the plan is approved under subdivision (3), take all necessary actions to effect the charter conversion.(5) Not later than ten (10) days after receipt of the federal charter, the credit union resulting from the charter conversion shall:(A) file a copy of the federal charter with the department; and(B) notify the secretary of state that the conversion is complete.(b) Notwithstanding section 4 of this chapter, the converted federal credit union ceases to be a savings bank upon the issuance of the federal charter, unless the federal charter provides for a different effective date for the charter conversion.As added by P.L.213-2007, SEC.54; P.L.217-2007, SEC.52.
IN Code § 28-1-33-9 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-9. Voting Party Rights

Sec. 9. The voting parties of a mutual savings bank have the voting rights set forth in IC 28-13-6-2 with respect to a charter conversion of the mutual savings bank under this chapter.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-10 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-10. Department Approval

Sec. 10. (a) The department may approve or disapprove the conversion plan filed under section 8 of this chapter.(b) The department is not required to hold a hearing on the conversion plan.(c) Solicitation of the votes of voting parties may occur before the mutual savings bank receives approval of the department if the director of the department has reviewed the proxy solicitation material and has notified the mutual savings bank in writing that the department does not object to use of the material.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-11 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-11. Requirements for Approval

Sec. 11. The department may not approve the conversion plan unless the department finds, after appropriate investigation or examination, all of the following:(1) The resulting credit union will operate in a safe, sound, and prudent manner.(2) The proposed charter conversion will not result in a credit union that has inadequate capital, unsatisfactory management, or poor earnings prospects.(3) The management or other principals of the mutual savings bank are qualified by character and financial responsibility to control and operate the proposed credit union in a legal and proper manner.(4) The interests of the depositors, the creditors, and the public generally will not be jeopardized by the proposed charter conversion.(5) The proposed membership of the resulting credit union will comply with the membership requirements of IC 28-7-1-10.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-12 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-12. Rights, Privileges, Obligations, and Liabilities

Sec. 12. At the effective time of a charter conversion under this chapter, the resulting credit union:(1) possesses all of the rights, privileges, immunities, and powers of a credit union;(2) unless otherwise provided in this chapter, is subject to all of the statutes, regulations, duties, restrictions, obligations, and liabilities of a credit union;(3) succeeds by operation of law to all rights and property of the converting mutual savings bank;(4) is subject to all debts, obligations, and liabilities of the converting mutual savings bank as if the credit union had incurred the debts, obligations, and liabilities; and(5) may retain the borrowers and depositors of the converting mutual savings bank as members of the credit union.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-13 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-13. Winding Up Activities

Sec. 13. The department may authorize the credit union resulting from a charter conversion under this chapter to do the following:(1) Wind up any activities that the mutual savings bank legally engaged in at the effective time of the charter conversion but that otherwise are not permitted to credit unions.(2) Retain for a transitional period any assets that the mutual savings bank legally held at the effective time of the charter conversion that otherwise may not be held by credit unions.The terms and conditions of the winding up of activities under subdivision (1) and the retention of assets under subdivision (2) are subject to the discretion of the department. However, the transitional period during which activities may be carried out under subdivision (1) or assets may be retained under subdivision (2) may not exceed ten (10) years after the effective time of the charter conversion.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-14 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-14. Branches

Sec. 14. A credit union created by charter conversion may retain all branches lawfully established.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-15 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-15. Filing Articles of Charter Conversion

Sec. 15. (a) To effect a charter conversion, the converting mutual savings bank must file with the secretary of state articles of charter conversion showing the approval of the director of the department.(b) The converting mutual savings bank shall record copies of the articles of charter conversion with the county recorder of the county where the principal office of the credit union will be located.(c) The articles of charter conversion constitute articles of incorporation of the resulting credit union and must set forth the elements required in IC 28-7-1-1(b).As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-16 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-16. Subject to Credit Union Statutes and Rules

Sec. 16. Upon the effective time of a charter conversion, the converted credit union is subject to all statutes and rules applicable to credit unions.As added by P.L.1-2006, SEC.492.
IN Code § 28-1-33-17 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 1. Department of Financial Institutions|Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union|28-1-33-17. Rulemaking Authority

Sec. 17. The department may adopt rules under IC 4-22-2 or policies to implement this chapter.As added by P.L.1-2006, SEC.492.
IN Code § 28-2-2-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 2. Transactions During Nonbusiness Hours|28-2-2-1. Acts Done Outside Regular Banking Hours

Sec. 1. Nothing in any law of this state shall in any manner whatsoever affect the validity of or render void or voidable the payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by a bank or trust company in this state, because done or performed during any time other than regular banking hours; provided that nothing in this section shall be construed to compel any bank or trust company in this state, which by law or custom is entitled to close at noon on any business day or for the whole or any part of any legal holiday, to keep open for the transaction of business or to perform any of the acts or transactions enumerated in this section on any business day after such hour or on any legal holiday, except at its own option.Formerly: Acts 1957, c.45, s.1. As amended by P.L.263-1985, SEC.117.
IN Code § 28-2-5-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 5. Disaster Funds─low Cost Loans|28-2-5-1. Proclamation of Disaster Area; Meeting of Board of Public Depository

Sec. 1. Within thirty (30) days after the governor has designated any area or areas of the state of Indiana as disaster areas by his proclamation, the board of public depository shall meet for the purpose of determination as to whether low cost loans are needed by the victims of the disaster.Formerly: Acts 1967, c.148, s.1.
IN Code § 28-2-5-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 5. Disaster Funds─low Cost Loans|28-2-5-2. Determination of Need for Low Cost Loans; Interest Rate

Sec. 2. If the board of public depository determines that low cost loans are needed for use of the victims of the disaster it shall, by rule or regulation, establish interest rates of not less than one per cent (1%) nor more than five per cent (5%) for terms of not less than six (6) months nor more than seventy-two (72) months' duration, unless the board in anticipation of the possibility of any such disaster, has, in the manner provided by law, already put into effect such rules and regulations in compliance with the provisions of this chapter.Formerly: Acts 1967, c.148, s.2. As amended by Acts 1979, P.L.264, SEC.1.
IN Code § 28-2-5-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 5. Disaster Funds─low Cost Loans|28-2-5-3. Deposit of Matching State Funds in Disaster Area Bank

Sec. 3. The treasurer of state shall deposit in any bank in the general area of the disaster an amount of interest-free state money equal to the amount of the loan granted by the lending bank when the bank has provided the treasurer of state with a copy of the loan instrument showing the name of the borrower, amount of loan, rate of interest and terms of loan.Formerly: Acts 1967, c.148, s.3.
IN Code § 28-2-6-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 6. Securities Held by Nominees|28-2-6-1. Authority to Register Securities in Name of Nominee; Liability

Sec. 1. Any bank, trust company, or corporate fiduciary incorporated under the laws of this state, and any national banking association incorporated under the laws of the United States and having its principal banking office in this state, may, when acting in any fiduciary capacity, whether as sole fiduciary or as co-fiduciary, cause any stocks, bonds, or other securities held by it in such fiduciary capacity to be registered and held in the name or names of any nominee or nominees of such bank, trust company or national banking association, Provided, however, that: (1) if such bank, trust company, corporate fiduciary, or national banking association be acting as a co-fiduciary, it shall secure the consent of its co-fiduciary or co-fiduciaries, who is or are hereby authorized to give such consent, to the registration and holding of such stocks, bonds, or other securities in the name of a nominee or nominees of such bank, trust company, corporate fiduciary, or national bank, and (2) the records of the fiduciary or fiduciaries shall at all times clearly show the ownership of such stocks, bonds, or other securities, and investments so registered shall at all times be in the possession and under the control of the fiduciary. Any bank, trust company, corporate fiduciary, or national banking association shall be liable in its individual capacity for any loss to the trust or estate resulting from any of the acts, or omissions to act, of such nominee or nominees in connection with the stocks, bonds, or other securities so held to the same extent as if such stocks, bonds, or other securities had been held in the name of such bank, trust company, corporate fiduciary, or national banking association as fiduciary.Formerly: Acts 1947, c.115, s.1. As amended by P.L.262-1995, SEC.50.
IN Code § 28-2-6-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 6. Securities Held by Nominees|28-2-6-2. Application of Chapter

Sec. 2. The provisions of this chapter shall be applicable to banks, trust companies, corporate fiduciaries, and national banking associations acting on or after August 20, 1947, under wills, trusts, agreements, court orders, and other instruments existing or made on or after August 20, 1947.Formerly: Acts 1947, c.115, s.2. As amended by P.L.263-1985, SEC.118; P.L.262-1995, SEC.51.
IN Code § 28-2-7-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 7. Fiduciary Bonds|28-2-7-1. General Exemption From Requirement for Bond

Sec. 1. Any bank, trust company, or corporate fiduciary organized under the laws of the state of Indiana or of the United States of America and operating a bank, trust company, or corporate fiduciary which is located within the state of Indiana, which is acting on December 12, 1945, or which may act, after December 12, 1945, in a fiduciary capacity in any estate, trust, receivership, action, matter, or proceeding pending on or after December 12, 1945, in any court created by the Constitution or the laws of the state of Indiana, shall not, while so acting, except as provided in section 2 of this chapter, be required to file in said court any bond conditioned:(1) for the full performance of its duties;(2) to account for the funds or property which may come into its possession; or(3) for any other purpose whatsoever.Formerly: Acts 1945, c.248, s.1. As amended by P.L.263-1985, SEC.119; P.L.262-1995, SEC.52.
IN Code § 28-2-7-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 7. Fiduciary Bonds|28-2-7-2. Order for Bond at Initiation of Proceedings; Notice to Show Cause

Sec. 2. The court in which said estate, trust, receivership, action, matter, or proceeding is pending may, at the time it is filed or instituted, refuse to permit said fiduciary to take advantage and have the benefits of section 1 of this chapter or may, at any time during the pendency thereof, cause a written notice to be served upon said fiduciary to show cause why an order should not be entered, requiring it to file the bond or bonds which it would be or have been required to file but for the provisions of section 1 of this chapter, and it shall be stated in said notice the date upon which a hearing thereon shall be held.Formerly: Acts 1945, c.248, s.2. As amended by P.L.263-1985, SEC.120.
IN Code § 28-2-7-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 7. Fiduciary Bonds|28-2-7-3. Order After Hearing

Sec. 3. After said hearing shall have been held, the court shall enter an order either:(1) permitting said fiduciary to continue to act as such, in accordance with the provisions of section 1 of this chapter; or(2) requiring it to file, within the time fixed by the court, the bond or bonds it would be or have been required to file but for the provisions of section 1 of this chapter.Formerly: Acts 1945, c.248, s.3. As amended by P.L.263-1985, SEC.121.
IN Code § 28-2-7-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 7. Fiduciary Bonds|28-2-7-4. Failure to File Bond; Vacating Order Appointing Institution as Fiduciary

Sec. 4. If any bond, which is ordered filed in accordance with the provisions of section 3 of this chapter, is not filed within the time so fixed by the court, the order appointing said fiduciary or permitting it to act as such in said estate, trust, receivership, action, matter, or proceeding shall be deemed to be vacated and set aside.Formerly: Acts 1945, c.248, s.4. As amended by P.L.263-1985, SEC.122.
IN Code § 28-2-13-1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-1. Acquired Bank

Sec. 1. As used in this chapter, "acquired bank" means:(1) any nonsurviving bank in a merger or consolidation of banks; or(2) any bank that:(A) sells all or substantially all of its assets; and(B) subsequently dissolves as a result of the transaction.As added by P.L.265-1985, SEC.3. Amended by P.L.171-1996, SEC.29.
IN Code § 28-2-13-2 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-2. Acquiring Bank

Sec. 2. As used in this chapter, "acquiring bank" means the surviving bank in a merger of banks, the new corporation in a consolidation of banks, or the bank that purchases all, or substantially all, of the assets of another bank.As added by P.L.265-1985, SEC.3.
IN Code § 28-2-13-3 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-3. Affiliate

Sec. 3. As used in this chapter, "affiliate" means, as to a bank controlled by one (1) or more bank holding companies, another bank, savings bank, or savings association controlled by the same bank holding company or bank holding companies.As added by P.L.265-1985, SEC.3. Amended by P.L.262-1995, SEC.53; P.L.171-1996, SEC.30; P.L.79-1998, SEC.62.
IN Code § 28-2-13-4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-4. Automated Teller Machine

Sec. 4. As used in this chapter, "automated teller machine" means unmanned electronic or mechanical equipment that performs routine banking transactions for the public.As added by P.L.265-1985, SEC.3.
IN Code § 28-2-13-5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-5. Bank

Sec. 5. As used in this chapter, "bank" has the meaning set forth in IC 28-2-17-3.As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.22; P.L.42-1993, SEC.60; P.L.171-1996, SEC.31.
IN Code § 28-2-13-6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-6. Bank Holding Company

Sec. 6. (a) As used in this chapter, "bank holding company" means any company that has or acquires control over:(1) any bank; or(2) any company that has or acquires control over any bank.(b) For the purposes of this chapter:(1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the shares are held for the benefit of the shareholders of the bank;(2) a company is not a bank holding company by virtue of its ownership or control of shares that are acquired by the company in connection with its underwriting of securities and that are held only for such a period of time as will permit the sale of the shares on a reasonable basis;(3) a company formed for the sole purpose of participating in a proxy solicitation is not a bank holding company by virtue of its control of voting rights of shares acquired in the course of the solicitation; and(4) a company is not a bank holding company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two (2) years after the date of acquisition.The department may extend, from time to time but for not more than one (1) year at a time, the two (2) year period referred to in subdivision (4), but the extension may not, in the aggregate, exceed three (3) years.(c) For the purposes of this chapter, any successor to a bank holding company is a bank holding company from the date as of which the predecessor company became a bank holding company.As added by P.L.265-1985, SEC.3.
IN Code § 28-2-13-7 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-7. Branch

Sec. 7. As used in this chapter, "branch" means any office, agency, mobile unit, messenger service, or other place of business at which deposits are received, checks paid, or money lent. However, the term does not include:(1) the principal office of a bank;(2) the principal office of an affiliate;(3) a branch of an affiliate;(4) an automated teller machine;(5) a night depository;(6) a temporary facility authorized in IC 28-2-13-22.5;(7) a loan production office;(8) a deposit production office; or(9) other service delivery mechanisms not considered by the director to be a branch.As added by P.L.265-1985, SEC.3. Amended by P.L.164-1988, SEC.4; P.L.14-1992, SEC.108; P.L.171-1996, SEC.32; P.L.35-2010, SEC.141.
IN Code § 28-2-13-8 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 2. Banks|Chapter 13. Branch Banks|28-2-13-8. Branch by Acquisition

Sec. 8. As used in this chapter, "branch by acquisition" means a branch acquired by a bank as a result of a merger or consolidation of that bank with another bank or a purchase of all or substantially all of the assets of another bank.As added by P.L.265-1985, SEC.3.