reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-8. Petition of Liquidating Agent; Statement of Debts and Liabilities; Recommendations as to Claims; Suspension of Creditor's Right of Action on Claims

Sec. 8. Within sixty (60) days after such dissolution has been authorized by the shareholders, the agent shall file with the clerk of the circuit, superior or probate court of the county in which such corporation has its principal place of business, a verified petition, in duplicate, which shall contain a complete statement of all debts and liabilities of such corporation, whether to creditors or shareholders setting forth the name and address of each creditor, and/or shareholder and the nature and amount of each claim, as disclosed by the books of such corporation, or otherwise coming to the knowledge of such agent, together with the recommendations of such agent as to the allowance or disallowance of such claims, but in making such recommendations, such agent shall not determine or recommend any preferences or priorities as to any claim or claims. The agent shall also file one (1) copy of such petition in the office of the department and retain one (1) copy thereof at the principal office of the corporation for inspection by creditors, shareholders or other persons interested. Upon the filing of such petition the same shall be docketed as a cause of action upon the records of the court wherein such petition is filed and thereupon such court shall be vested with exclusive jurisdiction to hear and determine all issues and matters pertaining to or connected with the allowance, disallowance and payment of claims against such corporation. No creditor or other person shall have any claim or any right to bring an action in any court upon any claim or to assert any right against such corporation after such dissolution has been authorized by the shareholders and before the date fixed for the filing of such petition with the clerk of such court.
Formerly: Acts 1933, c.40, s.149.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-9. Notice to Creditors

Sec. 9. Upon the filing of such petition, the agent may, by mail, notify each creditor and/or shareholder whose name appears in the petition of the amount for which his claim was recommended for allowance, without priority, and shall, in such notice, specify the date that shall have been fixed by the court, not less than sixty (60) days from the date of such notice, within which all creditors and/or shareholders who may be dissatisfied with the recommendations of the agent as to the allowance or disallowance of claims may appear in court, and, by petition, assert their claims or any priorities thereon. At the same time the agent shall also give notice by publication, once each week, for three (3) successive weeks, in some newspaper of general circulation, printed or circulated in the county where the liquidation proceedings are pending that the petition and the recommendations as to the allowance or disallowance of claims has been filed with the court and specifying the date that shall have been fixed by the court, not less than sixty (60) days from the date of such notice, within which any creditors, shareholders or other persons interested, may appear, and, by petition filed in the court, assert any claims or priorities thereon or object to the allowances or disallowances recommended by such agent.
Formerly: Acts 1933, c.40, s.150.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-10. Creditor's Petition Asserting Claim; Priority or Opposition to Other Claims; Failure to Appear; Effect of Liquidating Agent's Failure to Petition

Sec. 10. Within the time fixed by the notice, any creditor, shareholder or other person interested may, by verified petition filed in the court, assert his claim, or any priority thereon, or oppose the allowance, of any claims appearing upon the statement, or asserted by any other creditor or shareholder and the agent or any creditor, shareholder or other person interested, within such time as may have been fixed by the court, may oppose the allowance with or without priority of the claims asserted by any creditor or shareholder. The court may, upon good cause shown, extend the time for the filing of any petition or objection by any person for the allowance or disallowance of any claim herein referred to. Any creditor or shareholder who fails to appear and file his petition as is provided within the time fixed by the notice or by any extension granted by the court shall be forever barred from asserting any claim different from that recommended by the agent or from asserting any claim or priority, and from contesting or opposing the allowance, with or without priority, of any claim asserted by any creditor. If such agent shall not file a petition, as hereinbefore prescribed in this section, within sixty (60) days after the dissolution shall have been authorized, any creditor or other person asserting any claim against or any right, title or interest in and to the assets of such corporation may bring an action founded on such claim or other right in the circuit or superior court of the county in which the principal office of such corporation is located. If such petition shall have been filed on or before the date fixed for the filing of such petition with the clerk of the circuit, superior or probate court all creditors or other persons asserting any claim or other right against such corporation shall enforce such claim or other right pursuant to the provisions prescribed in this section and not otherwise.
Formerly: Acts 1933, c.40, s.151.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-11. Unclaimed Distributive Portions

Sec. 11. In case depositors or other creditors or the holders of shares of any such corporation are unknown or shall fail or refuse to accept their distributive shares in the property and assets of such corporation, or are under any disability, or cannot be found after diligent inquiry, upon the final settlement of the liquidation, the liquidating agent shall treat the property as unclaimed property and comply with IC 32-34-1.5.
Formerly: Acts 1933, c.40, s.152; Acts 1937, c.33, s.15. As amended by P.L.35-2010, SEC.115; P.L.141-2021, SEC.16.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-12. Authority to Borrow

Sec. 12. After the authorization of the dissolution of such corporation, the board of directors is hereby authorized to borrow money and to secure the payment thereof, in the same manner and to the extent that a receiver may borrow money and secure the payment thereof when any financial institution is in involuntary liquidation, as provided in IC 28-1-3.1-6.
Formerly: Acts 1933, c.40, s.153. As amended by P.L.263-1985, SEC.46.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-13. Articles of Dissolution; Execution and Filing; Contents

Sec. 13. Upon the completion of the dissolution, the corporation shall execute and file articles of dissolution, setting forth the following:
(1) The name of the corporation.
(2) The place where its principal office is located.
(3) The date of the meeting of the shareholders at which the dissolution was authorized and a copy of the notices of the meeting.
(4) A copy of the resolution of the shareholders authorizing the dissolution.
(5) The manner of the resolution's adoption and the vote by which adopted.
(6) A copy of the notice published.
(7) The names and addresses of the then existing directors and officers of the corporation.
(8) A copy of the order of the department authorizing the dissolution of the corporation.
(9) A brief summary showing the manner in which the corporate debts and liabilities were disposed of or paid.
(10) A complete itemized list, in a format approved by the director of the department, of all the corporate assets and property distributed to the corporation's shareholders and any other information required by the director of the department.
Formerly: Acts 1933, c.40, s.154; Acts 1937, c.33, s.16. As amended by P.L.216-2013, SEC.17; P.L.136-2018, SEC.207.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-14. Articles of Dissolution; Presentation to Department and to Secretary of State

Sec. 14. The articles of dissolution shall be executed in triplicate, in the form prescribed by the department, by the president or a vice-president and by the secretary or cashier of the corporation, and shall be verified by the oaths of the officers signing such articles, and shall be presented in triplicate to the department as (and) to the secretary of state, at their offices, as hereinafter provided, accompanied by an affidavit of the publisher of the newspaper wherein the notice of dissolution was published, as hereinbefore provided, as to the publication of such notice, and by the fees prescribed by law.
Formerly: Acts 1933, c.40, s.155.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-15. Articles of Dissolution; Approval by Department

Sec. 15. After the articles of dissolution shall have been executed and before they are presented to the secretary of state, they shall first be presented to the department. If the department finds that the articles of dissolution conform to law, it shall approve such articles, and its approval shall be evidenced in the manner prescribed in IC 28-12-5.
Formerly: Acts 1933, c.40, s.156. As amended by P.L.263-1985, SEC.47; P.L.14-1992, SEC.78.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-16. Certificate of Incorporators or Articles of Dissolution; Approval by Secretary of State; Filing; Certificate of Dissolution

Sec. 16. Upon presentation of the certificate of the incorporators, as provided in section 1 of this chapter, or of the articles of dissolution and proof of publication, as provided in section 14 of this chapter, the secretary of state, if he finds that it or they conform to law, shall endorse his approval upon each of the triplicate copies of the certificate or articles, as the case may be, and, when all fees shall have been paid as required by law, shall file one (1) copy of the certificate or articles and the accompanying proof of publication in his office, and shall issue a certificate of dissolution to the corporation, and shall return the certificate of dissolution to the corporation, together with two (2) copies of the certificate of the incorporators or articles of dissolution, as the case may be, bearing the endorsement of his approval.
Formerly: Acts 1933, c.40, s.157. As amended by P.L.263-1985, SEC.48.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-17. Certificate of Incorporators or Articles of Dissolution; Recording

Sec. 17. The corporation shall then file for record with the county recorder of the county or counties in which the articles of incorporation were or should have been recorded, as provided in IC 28-12-8, one (1) of the triplicate copies of the certificate of the incorporators or of the articles of dissolution bearing the endorsement of the approval of the secretary of state as provided in section 16 of this chapter.
Formerly: Acts 1933, c.40, s.158. As amended by P.L.263-1985, SEC.49; P.L.14-1992, SEC.79.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-18. Termination of Corporate Existence; Existing Liabilities

Sec. 18. (a) Upon the issuance of the certificate of dissolution and the recording of the certificate of the incorporators or the articles of dissolution, as the case may be, as provided in section 17 of this chapter, the corporation shall be dissolved and its existence shall cease.
(b) The dissolution of any corporation in accordance with the provisions of this section shall not take away or impair any remedy against such corporation, its directors, officers, or shareholders for any liabilities incurred by the corporation previous to its dissolution if suit is brought and service of process is had, as provided by the laws of this state, within two (2) years after the date of such dissolution.
Formerly: Acts 1933, c.40, s.159. As amended by P.L.263-1985, SEC.50.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 9. Voluntary Dissolution of Banks, Trust Companies, and Building and Loan Associations › 28-1-9-20. Pending Liquidations; Acceptance of Chapter

Sec. 20. Any bank of discount and deposit, loan and trust and safe deposit company, or building and loan association organized under the provisions of any statute enacted prior to February 24, 1933, which is in voluntary liquidation on February 24, 1933, pursuant to any statute of this state may accept the provisions of this chapter and continue the liquidation of such corporation pursuant to the terms and provisions of this chapter.
Formerly: Acts 1933, c.40, s.161. As amended by P.L.263-1985, SEC.51.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-1. General and Enumerated Rights, Privileges, and Powers; "Bank or Trust Company"

Sec. 1. (a) In addition to the general rights, privileges, and powers conferred by IC 28-1-5 through IC 28-1-9 and subject to the limitations and restrictions contained in this article and in the articles of incorporation, every bank or trust company shall possess and may exercise the rights, privileges, and powers enumerated in this chapter.
(b) Unless the language used specifically indicates otherwise, the terms "bank or trust company" and "bank and trust company" as used in IC 28-1-11 through IC 28-1-20 mean any bank or trust company organized under this article and any bank of discount and deposit, loan and trust and safe deposit company, or trust company organized under any statute enacted prior to February 24, 1933.
Formerly: Acts 1933, c.40, s.170. As amended by P.L.263-1985, SEC.58; P.L.3-1990, SEC.101; P.L.14-1992, SEC.80; P.L.42-1993, SEC.26; P.L.136-1994, SEC.1; P.L.27-2012, SEC.49.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-2. Fiscal or Transfer Agent; Transportation Agent; Insurance Producer or Broker; Attorney in Fact

Sec. 2. Any bank or trust company shall have power to act as fiscal or transfer agent of the United States or of any state, municipality, body politic or corporation; and in such capacity to receive and disburse money; to transfer, register and countersign certificates of stock, bonds or other evidence of indebtedness; to authenticate and certify any such bonds and certificates of indebtedness; to act as agent to buy and sell domestic and foreign transportation; to solicit and write insurance as an insurance producer or broker for any insurance company authorized to do business in the state or states where the insurance producer or broker operates; and to act as attorney in fact or agent of any person or corporation, foreign or domestic, for any lawful purpose.
Formerly: Acts 1933, c.40, s.171. As amended by P.L.188-1997, SEC.3; P.L.63-2001, SEC.6 and P.L.134-2001, SEC.7; P.L.178-2003, SEC.89.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-2.5. Sale of Life Insurance Policy or Annuity Contract

Sec. 2.5. (a) A bank or trust company may act as an insurance producer for the sale of any life insurance policy or annuity contract issued by a life insurance company authorized to do business in any state in which the agent operates.
(b) A bank or trust company that acts as an insurance producer for the sale of a life insurance policy or an annuity contract in Indiana:
(1) is subject to all requirements of IC 27; and
(2) must comply with the disclosure requirements under IC 27-1-38.
(c) A bank or trust company may not condition:
(1) an extension of credit;
(2) a lease or sale of real or personal property;
(3) the performance of services; 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 bank or trust company or an affiliate (as defined in IC 28-2-13-3) of the bank or trust company.
(d) This section does not prohibit a bank or trust company from requiring that a person, as a condition to a transaction, obtain a life insurance policy from an insurance company acceptable to the bank or trust company.
As added by P.L.262-1995, SEC.29. Amended by P.L.188-1997, SEC.4; P.L.130-2002, SEC.5; P.L.192-2003, SEC.2; P.L.178-2003, SEC.90.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-2.6. Repealed

As added by P.L.262-1995, SEC.30. Amended by P.L.188-1997, SEC.5; P.L.79-1998, SEC.43. Repealed by P.L.130-2002, SEC.10.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-3. Repealed

Formerly: Acts 1933, c.40, s.172; Acts 1935, c.5, s.25; Acts 1937, c.33, s.17; Acts 1943, c.88, s.1; Acts 1959, c.268, s.1; Acts 1967, c.295, s.2; Acts 1969, c.280, s.3; Acts 1971, P.L.394, SEC.27; Acts 1972, P.L.194, SEC.1. As amended by Acts 1979, P.L.258, SEC.1; Acts 1979, P.L.259, SEC.1. Repealed by Acts 1980, P.L.40, SEC.8.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-6. Appointment as Fiduciary

Sec. 6. Any bank or trust company may be appointed and act under the order of appointment of any court of competent jurisdiction as commissioner for the sale of real estate, guardian of the person and estate of persons under the age of eighteen (18) years, and incapacitated persons (as defined in IC 29-3-1-7.5), or as trustee, receiver, conservator, or committee of the property or estate of a person, corporation, or company, in insolvency or bankruptcy proceedings, or as depository of money paid into court, whether for the benefit of a person, regardless of age, corporation, or party, and in any other fiduciary capacity.
Formerly: Acts 1933, c.40, s.175; Acts 1973, P.L.280, SEC.3. As amended by P.L.33-1989, SEC.27.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-7. Testamentary and Probate Fiduciary Appointments

Sec. 7. Any bank or trust company shall have power to be appointed and to accept the appointment and act as executor or trustee under the last will and testament, or as administrator, with or without the will annexed, of the estate of any deceased person, and to be appointed and to act under the order of appointment of any court of competent jurisdiction as executor of or trustee under any last will and testament, whenever it shall be the successor to any corporation appointed in such last will and testament, whether such succession is the result of merger, consolidation or otherwise. Whenever a natural person is appointed with such corporation in any appointment as receiver, guardian, commissioner, trustee, executor, administrator with or without the will annexed, his appointment may be under such limitation of powers, and upon such terms and conditions as to the possession and control of the trust assets by such corporation, or otherwise, and as to the bond or security, if any, to be given by him, as the person appointed and such corporation may agree and the court or judge making the appointment shall approve. Whenever any natural person who is appointed in any fiduciary capacity is required to give a bond or security for the faithful performance of his duties, such corporation shall have the power and authority to guarantee or become surety for such natural person if such corporation shall take possession and control of the assets belonging to any such estate or other fiduciary relationship, and if approved by the court having jurisdiction of the fiduciary.
Formerly: Acts 1933, c.40, s.176.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-8. Appointment as Successor Guardian, Trustee, Executor, or Administrator

Sec. 8. Any bank or trust company shall have power to be appointed and to act under the order of appointment of any court of competent jurisdiction as guardian, trustee, executor or administrator, with or without the will annexed, on the application or consent of any person acting as such or entitled to such appointment and in the place and stead of such person, but such appointment shall be made upon such notice as is required by law to the persons interested in the estate or fund and on the consent of such of the principal beneficiaries or other persons interested in the estate or fund as the court or judge thereof making the appointment shall deem proper.
Formerly: Acts 1933, c.40, s.177.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-9. Trust Business

Sec. 9. Any bank or trust company shall have power to take, accept and execute any and all legal trusts, duties, and powers in regard to the holding, management, sale and disposition of any property or estate, real or personal, wherever located, and the rents and profits thereof, which may be granted or confided to it by any court of competent jurisdiction, or by any person, corporation, municipality or other authority; to take, accept and execute any and all trusts and powers of whatsoever nature or description which may be conferred upon or entrusted or submitted to it by any person, firm, company, or any body politic, corporation, foreign or domestic, or other authority, by grant, assignment, transfer, devise, bequest or otherwise, or which may be entrusted or committed or transferred to it or vested in it by order of any court of competent jurisdiction; and generally to execute trusts of every description not inconsistent with the laws of this state or of the United States.
Formerly: Acts 1933, c.40, s.178.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-10. Service as Fiduciary Without Bond; Judicial Control; Requirement of Security

Sec. 10. Except as otherwise provided in this chapter, any bank or trust company shall have power to act in each and every fiduciary capacity permitted by the terms of this article, and as commissioner for the sale of real estate, without bond or other security, and administer oaths attested by the signature of its secretary or cashier and its seal wherever it is acting in any such fiduciary capacity and whenever an individual acting in the same capacity is authorized by law to administer oaths. The court having jurisdiction of the fiduciary at any time, whether before or after acceptance of any fiduciary appointment, may require a bond or other security, and upon failure of such corporation to give a bond or security as required, may remove such corporation and revoke its appointment. No bank or trust company shall pledge or deposit any of its assets as a condition to the exercise of any of its powers as a fiduciary.
Formerly: Acts 1933, c.40, s.179. As amended by P.L.263-1985, SEC.60.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-11. Safe Deposits and Escrows

Sec. 11. Any bank or trust company shall have power to receive, upon terms and conditions to be prescribed by such corporation, not inconsistent with the provisions of this section, upon deposit for safe-keeping, or in escrow, moneys, bonds, mortgages, jewelry, plate, stock, securities and valuable papers of any kind, and other personal property for hire, and to rent or lease receptacles for safe deposits of personal property. No bank or trust company nor any of the assets thereof shall be liable, for the value of any property received by it pursuant to the power conferred by this section nor for damages for the loss, theft or misappropriation thereof. Any bank or trust company may procure and carry a policy or policies of insurance for the benefit of the owners of any property received by it pursuant to the power conferred by this section.
Formerly: Acts 1933, c.40, s.180.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-12. Federal Reserve System and Federal Deposit Insurance Corporation Membership; Federal Securities

Sec. 12. Every bank or trust company shall have power:
(1) to purchase and hold for the purpose of becoming a member of the federal reserve system:
(A) so much of the capital stock of a federal reserve bank as shall qualify it for membership, pursuant to the Federal Reserve Act (12 U.S.C. 221 et seq.); and
(B) so much of the capital stock of the Federal Deposit Insurance Corporation as will qualify it for membership, pursuant to the Federal Deposit Insurance Act (12 U.S.C. 1811 through 1833e);
(2) to do anything necessary or appropriate to acquire and maintain insurance of its deposits in accordance with the provisions of any federal law in force on or after July 1, 1933;
(3) to become a member of the federal reserve system; and
(4) to have and exercise all powers, not in conflict with the laws of this state, which are conferred upon any such member by the Federal Reserve Act. With the express approval of the department, and except as otherwise provided in this chapter, any bank or trust company shall have the power to purchase and hold shares of the capital stock, bonds, notes, debentures, or any other securities or obligations issued at any time by any agency or instrumentality of the federal government. After July 1, 1933, no bank or trust company shall purchase the capital stock of any joint stock land bank organized pursuant to 12 U.S.C. 2001 through 2279aa-14 and hold the stock so purchased in an amount in excess of ten percent (10%) of the capital and surplus of such bank or trust company.
Formerly: Acts 1933, c.40, s.181; Acts 1935, c.5, s.28; Acts 1937, c.33, s.19. As amended by P.L.263-1985, SEC.61; P.L.8-1991, SEC.12; P.L.42-1993, SEC.28; P.L.213-2007, SEC.41; P.L.217-2007, SEC.39.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-12.5. Federal Home Loan Bank; Investments; Membership; Loans; Transfer, Assignment, and Pledge of Bonds, Notes, Contracts, Mortgages, Securities, and Other Property

Sec. 12.5. Subject to any limitations imposed by the department through policy, a bank or trust company may do any of the following:
(1) Invest the money deposited in the bank or trust company in the shares of the capital stock, bonds, debentures, notes, or other obligations of a federal home loan bank of the United States.
(2) Become a member of the federal home loan bank of the district in which Indiana is located or an adjoining district.
(3) Borrow money from:
(A) a federal home loan bank described in subdivision (2);
(B) the Federal Deposit Insurance Corporation; or
(C) any other corporation.
(4) Transfer, assign to, and pledge with a federal home loan bank described in subdivision (2), the Federal Deposit Insurance Corporation, or other corporation any of the bonds, notes, contracts, mortgages, securities, or any other property of the bank or trust company held or acquired as security for the payment of loans entered into under subdivision (3).
(5) Exercise all rights, powers, and privileges conferred upon, and do all things and perform all acts required of, members or shareholders of a federal home loan bank by the Federal Home Loan Bank Act (12 U.S.C. 1421 through 1449).
As added by P.L.258-2003, SEC.5.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 11. Powers of Banks and Trust Companies › 28-1-11-13. Compensation for Services

Sec. 13. Any bank or trust company shall have power to demand and receive for the faithful performance and discharge of services performed pursuant to the powers vested in it by this article reasonable compensation, or such compensation as shall have been fixed by agreement of the parties, together with any and all advances necessarily paid out and expended in the discharge and performance of its duties, and unless otherwise agreed upon, interest at the legal rate on such advances. No compensation or commission paid or agreed to be paid for the negotiation of any loan or the execution of any trust by any such corporation shall be deemed to be interest within the meaning of any law of this state, nor shall any excess thereof over any rate of interest permitted by the laws of this state be decreed or held to be usury in any court of law or equity. The advances contemplated in this section may include the compensation paid for the employment of legal services when necessary for the protection of any trust or other fiduciary relation.
Formerly: Acts 1933, c.40, s.182. As amended by P.L.263-1985, SEC.62.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-1. Authority to Serve as Fiduciary

Sec. 1. (a) Any court or officer thereof having jurisdiction to grant letters of guardianship, to appoint a trustee, guardian, receiver, or committee of the estate of any person, to appoint a committee or trustee or a receiver in insolvency or bankruptcy proceedings, or in any other proceeding or action, under state or federal law, or to make any other fiduciary appointment contemplated and provided for in IC 28-1-11, may appoint any bank or trust company qualified under subsection (b) as such fiduciary. However, the bank or trust company is not required to accept the appointment.
(b) A bank or trust company is qualified to act as a fiduciary under subsection (a) if the bank or trust company is:
(1) organized under the provisions of IC 28;
(2) a national bank authorized to act as a fiduciary and that bank either:
(A) has its principal place of business in Indiana; or
(B) has its principal place of business in a state or territory of the United States, including the District of Columbia, that grants authority to serve in similar fiduciary capacities to banks and trust companies organized and doing business under the laws of Indiana; or
(3) organized and doing trust company business under the laws of a state or territory described in subdivision (2)(B).
(c) This section shall be construed to permit a bank or trust company that is organized and doing business under the laws of any state, territory, or district other than Indiana, including a national bank or national trust company doing business in any other state, to establish in Indiana, subject to the approval of the department, a place of business or agency for the conduct of business as a fiduciary if the law of the state, territory, or district in which the bank or trust company is located would allow an Indiana bank or trust company to establish a place of business or agency in that state, territory, or district for the conduct of business as a fiduciary.
Formerly: Acts 1933, c.40, s.183. As amended by Acts 1980, P.L.175, SEC.1; P.L.42-1993, SEC.29; P.L.122-1994, SEC.79.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-2. Control by Court; Accounts, Statements, and Reports

Sec. 2. Every bank or trust company appointed as a fiduciary, pursuant to the provisions of this article, shall be subject at all times to the orders, judgments, and decrees of the court from which it shall have accepted any such trust, appointment, or commission, as to such trust or other fiduciary relationship, and shall render to such court such itemized and verified accounts, statements, and reports as may be required by law, or as such court shall determine, in relation to such particular trust or other fiduciary appointment.
Formerly: Acts 1933, c.40, s.184. As amended by P.L.263-1985, SEC.63.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-4. Profit or Commission on Sales; Necessity of Specific Authorization; Surcharge

Sec. 4. No profit or commission, other than interest at the legal rate upon a loan or advancement, shall be taken or received by any bank or trust company or corporate fiduciary, directly or indirectly, out of any sale or purchase to or from any estate, guardianship, or trust of any kind of which it is the fiduciary, unless specifically authorized by agreement with the creator of the trust, or the court having jurisdiction thereof; and upon violation of this section such bank or trust company or corporate fiduciary shall be surcharged any profit so taken or received, and an amount equal thereto, in addition, and may be summarily removed as such fiduciary by the court having jurisdiction.
Formerly: Acts 1933, c.40, s.189. As amended by P.L.262-1995, SEC.31.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-5. Repealed

Formerly: Acts 1933, c.40, s.191; Acts 1937, c.33, s.24; Acts 1959, c.44, s.1. Repealed by P.L.262-1995, SEC.91.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-6. Liquidation Preferences

Sec. 6. Upon the liquidation of any bank or trust company or corporate fiduciary while it is acting as guardian, trustee, receiver, administrator, executor, commissioner, or assignee for the benefit of creditors the person or persons beneficially entitled to receive property or proceeds thereof held by it, or any successor fiduciary that may be appointed, shall have preference and priority in all assets of such bank or trust company or corporate fiduciary over its general creditors, for all uninvested money held by such bank or trust company or corporate fiduciary in the fiduciary capacities above named, to the extent that such money is commingled with its general assets or is not duly accounted for.
Formerly: Acts 1933, c.40, s.192; Acts 1937, c.33, s.25. As amended by P.L.262-1995, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 12. Regulation of Bank and Trust Company Fiduciaries › 28-1-12-7. Violations

Sec. 7. A person who violates this chapter commits a Class B infraction. In addition, if the person is an officer of any bank or trust company, he is subject to removal from office in the manner prescribed in IC 28-11-4.
Formerly: Acts 1933, c.40, s.194; Acts 1937, c.33, s.27. As amended by Acts 1978, P.L.2, SEC.2807; P.L.33-1991, SEC.15.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1. Repealed

Formerly: Acts 1933, c.40, s.195; Acts 1935, c.5, s.32; Acts 1965, c.356, s.12. As amended by P.L.265-1983, SEC.1. Repealed by P.L.14-1992, SEC.165.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.1. "Capital and Surplus" or "Unimpaired Capital and Unimpaired Surplus" Defined

Sec. 1.1. As used in this chapter, "capital and surplus" or "unimpaired capital and unimpaired surplus" has the meaning set forth in 12 CFR 32.2.
As added by P.L.14-1992, SEC.83. Amended by P.L.176-1996, SEC.13; P.L.213-2007, SEC.42; P.L.217-2007, SEC.40.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.2. "Loans and Extensions of Credit" Defined

Sec. 1.2. As used in this chapter, "loans and extensions of credit" has the meaning set forth in 12 CFR 32.2.
As added by P.L.14-1992, SEC.84. Amended by P.L.90-2008, SEC.25.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.3. "Person" Defined

Sec. 1.3. As used in this chapter, "person" includes an individual, a sole proprietorship, a partnership, a joint venture, an association, a trust, an estate, a business trust, a limited liability company, a corporation, a sovereign government, or an agency, an instrumentality, or a political subdivision thereof, or any similar entity or organization.
As added by P.L.14-1992, SEC.85. Amended by P.L.8-1993, SEC.439.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.5. Limits on Total Loans and Extensions of Credit to One Borrower; Loans and Extensions Not Fully Secured; Loans and Extensions Fully Secured; Derivative Transactions

Sec. 1.5. (a) The total loans and extensions of credit by a bank to a person outstanding at one (1) time and not fully secured, as determined in a manner consistent with subsection (b), by collateral having a market value at least equal to the amount of the loan or extension of credit may not exceed fifteen percent (15%) of the unimpaired capital and unimpaired surplus of the bank.
(b) The total loans and extensions of credit by a bank to a person outstanding at one (1) time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the funds outstanding may not exceed ten percent (10%) of the unimpaired capital and unimpaired surplus of the bank. The limitation in this subsection is separate from and in addition to the limitation contained in subsection (a).
(c) The total loans and extensions of credit by a bank includes any credit exposure to a person arising from a derivative transaction (as defined in 12 U.S.C. 84(b)(3)) between the bank and the person.
As added by P.L.14-1992, SEC.87. Amended by P.L.27-2012, SEC.53.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.6. Exceptions to Limitations on Loans or Extensions of Credit to One Borrower

Sec. 1.6. The limitations contained in section 1.5 of this chapter are subject to the exceptions set forth in 12 CFR 32.3.
As added by P.L.14-1992, SEC.88. Amended by P.L.73-2016, SEC.20.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.7. Limit on Total Consumer Credit Obligation of One Borrower

Sec. 1.7. (a) Loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper that carries a full recourse endorsement or unconditional guarantee by the person transferring the paper is subject under this section to a maximum limitation equal to twenty-five percent (25%) of the capital and surplus, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter.
(b) If the bank's files or the knowledge of the bank's officers of the financial condition of each maker of such consumer paper is reasonably adequate, and an officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of the loans or extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor, the limitations of this section as to the loans or extensions of credit of each such maker shall be the sole applicable loan limitations.
As added by P.L.14-1992, SEC.89.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-1.8. Limit on Obligations Secured by Documents or Instruments Covering Livestock; Dealer Discount of Paper Securing Sale of Dairy Cattle With Payment Guaranteed by Seller

Sec. 1.8. (a) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock when the market value of the livestock securing the obligation is not at any time less than one hundred fifteen percent (115%) of the face amount of the note covered are subject under this section, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter, to a maximum limitation equal to twenty-five percent (25%) of the capital and surplus.
(b) Loans and extensions of credit that arise from the discount by dealers in dairy cattle of paper given in payment for dairy cattle, which paper carries a full recourse endorsement or unconditional guarantee of the seller and that are secured by the cattle being sold, are subject under this section, notwithstanding the collateral requirements set forth in section 1.5(b) of this chapter, to a limitation of twenty-five percent (25%) of the capital and surplus.
As added by P.L.14-1992, SEC.90. Amended by P.L.141-2005, SEC.7.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-2. Repealed

Formerly: Acts 1933, c.40, s.196; Acts 1965, c.356, s.13. As amended by P.L.263-1985, SEC.64. Repealed by P.L.14-1992, SEC.165.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-3. Repealed

Formerly: Acts 1933, c.40, s.197; Acts 1935, c.5, s.33; Acts 1945, c.45, s.1; Acts 1949, c.188, s.1; Acts 1965, c.356, s.14; Acts 1969, c.280, s.4. As amended by P.L.263-1985, SEC.65. Repealed by P.L.14-1992, SEC.165.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-4. Repealed

Formerly: Acts 1933, c.40, s.198; Acts 1935, c.5, s.34; Acts 1939, c.102, s.5. As amended by P.L.263-1985, SEC.66. Repealed by P.L.14-1992, SEC.165.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 13. Loans and Investments of Banks and Trust Companies › 28-1-13-5. Repealed

Formerly: Acts 1933, c.40, s.199; Acts 1935, c.5, s.35. As amended by Acts 1982, P.L.167, SEC.1; P.L.263-1985, SEC.67. Repealed by P.L.14-1992, SEC.165.
2023 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.
2023 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. Repealed

Formerly: Acts 1933, c.40, s.201; Acts 1937, c.26, s.1; Acts 1939, c.102, s.8; Acts 1943, c.87, s.1; Acts 1945, c.104, s.1; Acts 1957, c.254, s.1; Acts 1961, c.86, s.1; Acts 1965, c.356, s.15; Acts 1967, c.295, s.3; Acts 1971, P.L.394, SEC.29; Acts 1973, P.L.281, SEC.1. As amended by Acts 1979, P.L.260, SEC.1; Acts 1979, P.L.261, SEC.1; Acts 1981, P.L.251, SEC.1; P.L.2-1987, SEC.39. Repealed by P.L.33-1991, SEC.57.