reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-20. Qualification to Acquire Indiana Bank or Bank Holding Company; Divestiture Upon Ceasing to Qualify

Sec. 20. (a) Except as expressly permitted by federal law, a bank holding company that is not:
(1) an Indiana bank holding company; or
(2) a foreign bank holding company;
may not acquire an Indiana bank or Indiana bank holding company.
(b) An Indiana bank holding company that ceases to be an Indiana bank holding company, as defined in section 12 of this chapter, or a foreign bank holding company that ceases to be a foreign bank holding company, as defined in section 9 of this chapter, shall within three (3) years divest itself of all Indiana banks and Indiana bank holding companies. However, a foreign bank holding company or Indiana bank holding company may not be required to divest itself of its Indiana banks or bank holding companies because of:
(1) its acquisition of institutions in another state, if the acquisition has been consummated under Section 116 or 123 of the Garn-St. Germain Depository Institutions Act of 1982 (12 U.S.C. 1730a(m) or 12 U.S.C. 1823(f));
(2) its acquisition of securities or assets of a bank having banking offices in another state, if the acquisition has been consummated in the regular course of securing or collecting a debt previously contracted in good faith, and if the bank or bank holding company divests itself of the securities or assets acquired within three (3) years of the date of acquisition; or
(3) its acquisition of:
(A) a bank or company organized under the laws of the United States or of any state and operating under Section 25 or Section 25(a) of the Federal Reserve Act, as amended (12 U.S.C. 601 through 604a or 12 U.S.C. 611 through 631); or
(B) a bank or bank holding company that was organized under the laws of a foreign country, that is principally engaged in business outside the United States, and that either has no banking office in the United States or has banking offices in the United States that are engaged only in business activities permissible for a bank or corporation operating under Section 25 or 25(a) of the Federal Reserve Act, as amended.
As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.44.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-21. Exemption From Ic 28-1-2-23

Sec. 21. (a) An acquisition by a foreign bank holding company of control of an Indiana bank or Indiana bank holding company is exempt from the requirements of IC 28-1-2-23 if the acquisition is made under this chapter.
(b) If a bank will be:
(1) acquired by a foreign bank holding company; and
(2) immediately merged with or consolidated into another bank owned by the acquiring foreign bank holding company;
the acquisition of the bank is exempt from the provisions of this chapter.
As added by P.L.279-1987, SEC.9. Amended by P.L.262-1995, SEC.61.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-22. Injunctions

Sec. 22. Any person, company, bank, or bank holding company that may be or has been injured by reason of any conduct that constitutes or will constitute a violation of this chapter by any company or bank holding company may sue the company or bank holding company to enjoin the conduct or for damages, together with the costs of suit, including reasonable attorney's fees. In addition, the department may sue to enjoin any conduct that constitutes or will constitute a violation of this chapter, or to require divestiture of any bank or bank holding company acquired in violation of this chapter.
As added by P.L.279-1987, SEC.9.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-23. Cooperation With Other Financial Institutions' Regulatory Agencies

Sec. 23. The department may enter into cooperative agreements and pay for necessary services with other financial institutions' regulatory agencies to facilitate the regulation of banks, corporate fiduciaries, and bank holding companies doing business in this state. The department may accept reports of examinations and other records from those other agencies instead of conducting its own examinations of corporate fiduciaries with offices in other states or banks controlled by bank holding companies located in other states. The department may take any action jointly with other regulatory agencies having concurrent jurisdiction over banks, corporate fiduciaries, and bank holding companies doing business in this state or may take actions independently in order to carry out its responsibilities.
As added by P.L.279-1987, SEC.9. Amended by P.L.262-1995, SEC.62.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-1. Purpose of Chapter

Sec. 1. It is the intent of this chapter to permit interstate branching by merger under Section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328) in accordance with the provisions set forth in this chapter.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-3. "Bank" Defined

Sec. 3. (a) Except as provided in subsection (b), as used in this chapter, "bank" has the meaning set forth in 12 U.S.C. 1813(h).
(b) Except as provided in subsection (c), the term "bank" does not include any foreign bank (as defined in 12 U.S.C. 3101(7)).
(c) The term "bank" includes any foreign bank organized or reorganized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-4. "Bank Holding Company" Defined

Sec. 4. As used in this chapter, "bank holding company" has the meaning set forth in 12 U.S.C. 1841(a)(1).
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-5. "Bank Supervisory Agency"

Sec. 5. As used in this chapter, "bank supervisory agency" means:
(1) any agency of another state with primary responsibility for organizing and supervising banks; and
(2) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies.
As added by P.L.171-1996, SEC.36. Amended by P.L.27-2012, SEC.79.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-7. "Control" Defined

Sec. 7. As used in this chapter, "control" shall be construed consistently with the provisions of 12 U.S.C. 1841(a)(2).
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-10. "Home State" Defined

Sec. 10. As used in this chapter, "home state" means the following:
(1) With respect to a state bank, the state under the laws of which the bank is organized or reorganized.
(2) With respect to a national bank, the state in which the main office of the bank is located.
(3) With respect to a foreign bank, the state determined to be the home state of the foreign bank under 12 U.S.C. 3103(c).
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-11. "Home State Regulator" Defined

Sec. 11. As used in this chapter, "home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is organized or reorganized.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-12. "Host State" Defined

Sec. 12. As used in this chapter, "host state" means a state, other than the home state of a bank, in which the bank:
(1) maintains; or
(2) seeks to establish and maintain;
a branch.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-15. "Interstate Merger Transaction" Defined

Sec. 15. As used in this chapter, "interstate merger transaction" means:
(1) the merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or
(2) the purchase of all the assets (including all of the branches) of a bank whose home state is different from the home state of the acquiring bank that results in the dissolution of the selling bank.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-17. "Out-of-State State Bank" Defined

Sec. 17. As used in this chapter, "out-of-state state bank" means a bank organized or reorganized under the laws of any state other than Indiana.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-19. "State" Defined

Sec. 19. As used in this chapter, "state" means any of the following:
(1) Any state of the United States.
(2) The District of Columbia.
(3) Puerto Rico.
(4) Guam.
(5) American Samoa.
(6) The Trust Territory of the Pacific Islands.
(7) The Virgin Islands.
(8) The Northern Mariana Islands.
(9) Any territory of the United States.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-20. Interstate Merger Transactions

Sec. 20. (a) With the prior written approval of the department, an Indiana state bank may establish, maintain, and operate one (1) or more branches in a state other than Indiana pursuant to an interstate merger transaction in which the Indiana state bank is the resulting bank.
(b) Not later than the date on which the required application for the interstate merger transaction is filed with the appropriate federal bank supervisory agency, the applicant Indiana state bank shall file an application with the department on a form prescribed by the director.
(c) An interstate merger transaction must be done in compliance with:
(1) IC 28-1-7;
(2) IC 28-1-8; or
(3) IC 28-3-2.
(d) An interstate merger transaction may be consummated only after the applicant has received the written approval of the department. The department has the authority to establish terms, conditions, and time frames by which the transaction may be consummated.
(e) A savings association or an industrial loan and investment company organized or reorganized under the laws of Indiana may engage in an interstate merger transaction to the same extent and under the same restrictions, conditions, and requirements as an Indiana state bank.
As added by P.L.171-1996, SEC.36. Amended by P.L.79-1998, SEC.65.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-21. Authority to Enter Into Transaction

Sec. 21. If the conditions and filing requirements of this chapter are met:
(1) one (1) or more Indiana banks may enter into an interstate merger transaction with one (1) or more out-of-state banks under this chapter; and
(2) an out-of-state bank resulting from a transaction referred to in subdivision (1) may maintain and operate the branches in Indiana of an Indiana bank that participated in the transaction.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-22. Duties of Resulting Bank

Sec. 22. An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving an Indiana state bank shall:
(1) notify the department of the proposed merger; and
(2) provide satisfactory evidence to the department of compliance with applicable requirements of IC 28-1-22.
As added by P.L.171-1996, SEC.36. Amended by P.L.11-1998, SEC.9.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-23. Authorized Activities; Acquisition of Additional Branches; Investigation; Provisions and Fees

Sec. 23. (a) An out-of-state state bank that establishes and maintains one (1) or more branches in Indiana under this chapter may conduct at the branch or branches only those activities that are expressly authorized under the laws of Indiana for Indiana state banks.
(b) An Indiana state bank may conduct any activities at any branch located outside Indiana that are permissible for a bank organized or reorganized by the host state in which the branch is located. However, if Indiana law specifically prohibits an activity that is permitted by the host state, the department may by order waive the prohibition if the department determines that the involvement of out-of-state branches of Indiana state banks in the particular activities conducted in the host state would not threaten the safety or soundness of banks. This section does not authorize a bank located in Indiana to engage in an activity in Indiana that has been waived under this provision.
(c) An out-of-state bank that has acquired a branch in Indiana under this chapter may establish or acquire additional branches in Indiana to the same extent that any Indiana bank may establish or acquire a branch in Indiana under applicable federal and Indiana law.
(d) With the prior approval of the department, an Indiana state bank that has acquired a branch or branches in a state other than Indiana through an interstate merger transaction may establish or acquire additional branches in the host state to the same extent that a host state state bank may establish or acquire a branch in the host state under the applicable host state law and federal law. An Indiana state bank desiring to establish one (1) or more branches under this section must file a written application with the director. The application must be in the form and must contain the information prescribed by the director. The department may approve or disapprove the application. Before the department approves the application, the bank must demonstrate to the satisfaction of the department that:
(1) the applicant state bank will have adequate capital, sound management, and adequate future earnings prospects after the establishment of the branch; and
(2) the establishment of the proposed branch will not violate the laws of the host state.
(e) The investigation of the department relative to any application as required by this section shall be conducted without a public hearing.
(f) The branch or branches of an out-of-state bank that are established and maintained in Indiana under this chapter shall be subject to the provisions and fees of IC 24-4.5 to the same extent as a bank located in Indiana.
As added by P.L.171-1996, SEC.36. Amended by P.L.192-1997, SEC.8.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-24. Examination of Branch Operations

Sec. 24. (a) To the extent consistent with subsection (b), the department may make the examinations of any branch established and maintained in Indiana pursuant to this chapter by an out-of-state state bank as the department may consider necessary to determine whether the branch is being operated in compliance with the laws of Indiana and in accordance with safe and sound banking practices. The provisions of IC 28-11-3 shall apply to such examinations.
(b) The department may enter into cooperative, coordinating, and information-sharing agreements with any organization enumerated in IC 28-11-3-3 with respect to the periodic examination or other supervision of:
(1) any branch in Indiana of an out-of-state state bank; or
(2) any branch of an Indiana state bank in any host state;
and the department may accept the organization's reports of examination and reports of investigation instead of conducting its own examinations or investigations.
(c) The department may enter into agreements with any financial institution supervisory agency that has concurrent jurisdiction over an Indiana state bank or an out-of-state state bank operating a branch in Indiana pursuant to this chapter to:
(1) engage the services of such agency's examiners at a reasonable rate of compensation; or
(2) provide the services of the department's examiners to such agency at a reasonable rate of compensation.
Any such agreement shall be entered into under IC 36-1-7.
(d) The department may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch established and maintained in Indiana of an out-of-state state bank or any branch established and maintained by an Indiana state bank in any host state. The department may at any time take such actions independently if the department considers the actions to be necessary or appropriate to carry out its responsibilities under this chapter or to ensure compliance with the laws of Indiana. In the case of an out-of-state state bank, the department shall recognize:
(1) the exclusive authority of the home state regulator over corporate governance matters; and
(2) the primary responsibility of the home state regulator with respect to safety and soundness matters.
(e) Each out-of-state state bank that maintains one (1) or more branches in Indiana is subject to the provisions of IC 28-11-3-5. The fees may be shared with other financial institution supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between those agencies and the department.
(f) For the purposes of this chapter, the provisions of IC 28-1-2-30 apply to the following:
(1) An out-of-state bank.
(2) An out-of-state savings association.
(3) An out-of-state industrial loan and investment company.
As added by P.L.171-1996, SEC.36. Amended by P.L.79-1998, SEC.66.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-25. Enforcement Actions

Sec. 25. (a) If the department determines that a branch maintained by an out-of-state state bank in Indiana is being operated:
(1) in violation of any provision of Indiana law relating to activities of a bank; or
(2) in an unsafe and unsound manner;
the department may take all enforcement actions it would be empowered to take if the branch were an Indiana state bank, including but not limited to enforcement actions under IC 28-11-4.
(b) The department shall:
(1) promptly give notice to the home state regulator of each enforcement action taken under this section against an out-of-state state bank; and
(2) to the extent practicable, consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-27. Notice of Actions Causing a Change of Control

Sec. 27. Each out-of-state state bank that establishes and maintains a branch in Indiana pursuant to this chapter, or the home state regulator of such bank, shall give at least thirty (30) days prior written notice, or shorter notice as is consistent with applicable state or federal law, to the department of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, with the result that an application would be required to be filed pursuant to the federal Change in Bank Control Act of 1978, as amended (12 U.S.C. 1817(j)) or the federal Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.) or any successor statutes to those statutes.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-28. Severability

Sec. 28. The provisions of this chapter are severable in the manner provided in IC 1-1-1-8(b). If:
(1) any provision of this chapter; or
(2) the application of any provision of this chapter;
is found by any court with jurisdiction in the United States to be invalid as to any bank, bank holding company, foreign bank, or other person or circumstances, or to be superseded by federal law, the remaining provisions of this chapter shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstance.
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 17. Interstate Bank Mergers › 28-2-17-29. Waiver of Concentration Limitation

Sec. 29. (a) Pursuant to 12 U.S.C. 1831u(b)2(D), the statewide concentration limitation as provided for in 12 U.S.C. 1831u(b)2(B) may be waived by order of the department for a particular interstate merger transaction for good cause shown.
(b) When determining good cause for the purposes of this section, the department shall, at a minimum, consider the factors enumerated in IC 28-2-16-17(e).
As added by P.L.171-1996, SEC.36.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-1. Purpose of Chapter

Sec. 1. It is the intent of this chapter to permit interstate branching under Sections 102 and 103 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328) in accordance with the provisions set forth in this chapter.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-3. "Acquisition of a Branch" Defined

Sec. 3. As used in this chapter, "acquisition of a branch" means the acquisition of a branch or branches located in a host state, without engaging in an interstate merger transaction (as defined in IC 28-2-17-15).
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-4. "Bank" Defined

Sec. 4. (a) Except as provided in subsection (b), as used in this chapter, "bank" has the meaning set forth in 12 U.S.C. 1813(h).
(b) Except as provided in subsection (c), the term "bank" does not include any foreign bank (as defined in 12 U.S.C. 3101(7)).
(c) The term "bank" includes any foreign bank organized or reorganized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-5. "Bank Holding Company" Defined

Sec. 5. As used in this chapter, "bank holding company" has the meaning set forth in 12 U.S.C. 1841(a)(1).
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-6. "Bank Supervisory Agency"

Sec. 6. As used in this chapter, "bank supervisory agency" means any of the following:
(1) Any agency of another state with primary responsibility for organizing and supervising banks.
(2) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies.
As added by P.L.171-1996, SEC.37. Amended by P.L.27-2012, SEC.80.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-8. "Control" Defined

Sec. 8. As used in this chapter, "control" shall be construed consistently with the provisions of 12 U.S.C. 1841(a)(2).
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-10. "De Novo Branch" Defined

Sec. 10. As used in this chapter, "de novo branch" means a branch of a bank located in a host state that:
(1) is originally established by the bank as a branch; and
(2) does not become a branch of the bank as a result of:
(A) the acquisition of another bank or a branch of another bank; or
(B) the merger, consolidation, or conversion involving any such bank or branch.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-12. "Home State" Defined

Sec. 12. As used in this chapter, "home state" means the following:
(1) With respect to a state bank, the state under the laws of which the bank is organized or reorganized.
(2) With respect to a national bank, the state in which the main office of the bank is located.
(3) With respect to a foreign bank, the state determined to be the home state of the foreign bank under 12 U.S.C. 3103(c).
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-13. "Home State Regulator" Defined

Sec. 13. As used in this chapter, "home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which such bank is organized or reorganized.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-14. "Host State" Defined

Sec. 14. As used in this chapter, "host state" means a state, other than the home state of a bank, in which the bank:
(1) maintains; or
(2) seeks to establish and maintain;
a branch.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-17. "Out-of-State State Bank" Defined

Sec. 17. As used in this chapter, "out-of-state state bank" means a bank organized or reorganized under the laws of any state other than Indiana.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-18. "State" Defined

Sec. 18. As used in this chapter, "state" means any of the following:
(1) Any state of the United States.
(2) The District of Columbia.
(3) Puerto Rico.
(4) Guam.
(5) American Samoa.
(6) The Trust Territory of the Pacific Islands.
(7) The Virgin Islands.
(8) The Northern Mariana Islands.
(9) Any territory of the United States.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-19. Establishment of De Novo Branch or Acquisition of Branch in Another State; Application; Approval or Disapproval by Department; Location; Savings Associations and Industrial Loan and Investment Companies; Exemption From Approval Requirements

Sec. 19. (a) With the prior written approval of the department, any Indiana state bank may establish and maintain a de novo branch or acquire a branch in a state other than Indiana.
(b) An Indiana state bank that desires to:
(1) establish one (1) or more de novo branches; or
(2) acquire one (1) or more branches under this section;
must file a written application with the department. The application must be in the form and contain the information prescribed by the director.
(c) The department may approve or disapprove an application filed under this section. Before the department approves an application, the bank must demonstrate to the satisfaction of the department that:
(1) the applicant state bank will have adequate capital, sound management, and adequate future earnings prospects after the establishment of the branch; and
(2) the establishment of the proposed branch will not violate the laws of the host state.
(d) The investigation of the department relative to any application as required by this section shall be conducted without a public hearing.
(e) The location of any branch in another state established or acquired under this section may be changed at any time to a location within the state where the branch is located if the change of location:
(1) is authorized by the board of directors of the Indiana state bank; and
(2) approved by the department.
(f) A savings association or an industrial loan and investment company organized or reorganized under the laws of Indiana may establish and maintain a de novo branch or acquire a branch in a state other than Indiana to the same extent and under the same restrictions, conditions, and requirements as an Indiana state bank.
(g) The department may establish criteria to exempt an Indiana state bank from the approval requirements described in this section.
As added by P.L.171-1996, SEC.37. Amended by P.L.192-1997, SEC.9; P.L.79-1998, SEC.67; P.L.69-2018, SEC.51.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-20. Powers of Out-of-State Bank; De Novo Branch

Sec. 20. An out-of-state bank that meets the requirements of this chapter may establish and maintain a de novo branch in Indiana.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-21. Powers of Out-of-State Bank; Acquisition of Branch

Sec. 21. An out-of-state bank that meets the requirements of this chapter may establish and maintain a branch in Indiana through the acquisition of a branch.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-22. Notice of Proposed Transaction

Sec. 22. An out-of-state bank that desires to:
(1) establish and maintain a de novo branch; or
(2) acquire a branch in Indiana pursuant to this chapter;
shall provide written notice of the proposed transaction to the department not later than the date on which the bank applies to the responsible federal bank supervisory agency for approval to establish the branch.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-23. Conditions of Establishment

Sec. 23. A branch of an out-of-state bank may not be established in Indiana under this chapter unless the out-of-state bank:
(1) confirms in writing to the department that it will comply with all applicable laws of Indiana as long as it maintains a branch in Indiana; and
(2) provides satisfactory evidence to the department of compliance with the applicable requirements of IC 28-1-22.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-24. Authorized Activities; Acquisition of Additional Branches; Investigation; Provisions and Fees

Sec. 24. (a) An out-of-state state bank that establishes and maintains one (1) or more branches in Indiana under this chapter may conduct at the branch or branches only those activities that are expressly authorized under the laws of Indiana for Indiana state banks.
(b) An Indiana state bank may conduct any activities at any branch located outside Indiana that are permissible for a bank organized or reorganized by the host state in which the branch is located. However, if Indiana law specifically prohibits an activity that is permitted by the host state, the department may by order waive the prohibition if the department determines that the involvement of out-of-state branches of Indiana state banks in the particular activities conducted in the host state would not threaten the safety or soundness of banks. This section does not authorize a bank located in Indiana to engage in an activity in Indiana that has been waived under this provision.
(c) An out-of-state bank that has established or acquired a branch or branches in Indiana under this chapter may establish or acquire additional branches in Indiana to the same extent that any Indiana bank may establish or acquire a branch in Indiana under applicable federal and state law.
(d) The branch or branches of an out-of-state bank that are established and maintained in Indiana under this chapter shall be subject to the provisions and fees of IC 24-4.5 to the same extent as a bank located in Indiana.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-25. Examination of Branch Operations

Sec. 25. (a) To the extent consistent with subsection (b), the department may make examinations of any branch established and maintained in Indiana pursuant to this chapter by an out-of-state state bank as the department may consider necessary to determine whether the branch is being operated in compliance with the laws of Indiana and in accordance with safe and sound banking practices. The provisions of IC 28-11-3 shall apply to the examinations.
(b) The department may enter into cooperative, coordinating, and information-sharing agreements with any organization enumerated in IC 28-11-3-3 with respect to the periodic examination or other supervision of:
(1) any branch in Indiana of an out-of-state state bank; or
(2) any branch of an Indiana state bank in any host state;
and the department may accept the organization's reports of examination and reports of investigation instead of conducting its own examinations or investigations.
(c) The department may enter into agreements with any financial institution supervisory agency that has concurrent jurisdiction over an Indiana state bank or an out-of-state state bank operating a branch in Indiana pursuant to this chapter to:
(1) engage the services of the agency's examiners at a reasonable rate of compensation; or
(2) provide the services of the department's examiners to the agency at a reasonable rate of compensation.
Any such agreement shall be entered into under IC 36-1-7.
(d) The department may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch established and maintained in Indiana by an out-of-state state bank or any branch established and maintained by an Indiana state bank in any host state. The department may at any time take the actions independently if the department considers the actions to be necessary or appropriate to carry out its responsibilities under this chapter or to ensure compliance with the laws of Indiana. In the case of an out-of-state state bank, the department shall recognize:
(1) the exclusive authority of the home state regulator over corporate governance matters; and
(2) the primary responsibility of the home state regulator with respect to safety and soundness matters.
(e) Each out-of-state state bank that maintains one (1) or more branches in Indiana is subject to the provisions of IC 28-11-3-5. The fees may be shared with other financial institution supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between those parties and the department.
(f) For the purposes of this chapter, the provisions of IC 28-1-2-30 apply to the following:
(1) An out-of-state bank.
(2) An out-of-state savings association.
(3) An out-of-state industrial loan and investment company.
As added by P.L.171-1996, SEC.37. Amended by P.L.79-1998, SEC.68.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-26. Enforcement Actions

Sec. 26. (a) If the department determines that a branch maintained by an out-of-state state bank in Indiana is being operated:
(1) in violation of any provision of Indiana law relating to activities of a bank; or
(2) in an unsafe and unsound manner;
the department may take all enforcement actions it would be empowered to take if the branch were an Indiana state bank, including but not limited to enforcement actions under IC 28-11-4.
(b) The department shall:
(1) promptly give notice to the home state regulator of each enforcement action taken under this section against an out-of-state state bank; and
(2) to the extent practicable, consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-28. Notice of Actions Causing a Change of Control

Sec. 28. Each out-of-state state bank that has established and maintains a branch in Indiana pursuant to this chapter, or the home state regulator of the bank, shall give at least thirty (30) days prior written notice, or shorter notice as is consistent with applicable state or federal law, to the department of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, with the result that an application would be required to be filed pursuant to the federal Change in Bank Control Act of 1978, as amended (12 U.S.C. 1817(j)) or the federal Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.) or any successor statutes to those statutes.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 18. Interstate Bank Branching › 28-2-18-30. Severability

Sec. 30. (a) After May 30, 1997, the provisions of this chapter are severable in the manner provided in IC 1-1-1-8(b).
(b) If, after May 30, 1997:
(1) any provision of this chapter; or
(2) the application of a provision of this chapter;
is found by any court in the United States with jurisdiction to be invalid as to any bank, bank holding company, foreign bank, or another person or circumstances, or to be superseded by federal law, the remaining provisions of this chapter shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstance.
As added by P.L.171-1996, SEC.37.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 1. Liquidation of Banks › 28-3-1-1. Petition; Vote of Shareholders; Order and Bond

Sec. 1. Whenever the directors of any bank organized under the laws of this state, shall desire to liquidate any such bank, they may file a petition with the department of financial institutions for authority so to do. After the filing of any such petition, the said department shall authorize the directors to call a special meeting of the stockholders of such bank, and if the owners of two-thirds (2/3) of the capital stock of such bank shall vote in favor of such liquidation, the directors shall thereupon so notify the department and said department shall thereupon enter an order directing the liquidation of said bank, and shall also provide that a bond be executed in such an amount and with such sureties as the department may approve, for the faithful discharge by the officers of such bank of their respective duties in the liquidation of said bank.
Formerly: Acts 1943, c.39, s.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 1. Liquidation of Banks › 28-3-1-2. Sequence of Payments; Dissenting Stockholders

Sec. 2. Upon the filing and approval of such bond, the officers of any such bank, shall without delay, proceed with the liquidation of its business by first paying all of its depositors in full, and when all of such depositors have been paid in full, the holders of the capital stock of such bank shall appoint a committee of not more than three (3) persons to completely liquidate and pay all of its other liabilities, and to distribute all the remaining assets of said bank, share and share alike, to the owners of its capital in proportion to the shares of its capital stock respectively owned by them and then outstanding: Provided, however, that the owners of shares of its capital stock who did not approve of such liquidation shall, if they so demand, be paid the full par value of their shares within six (6) months from the time of the filing of such petition and such shares shall be cancelled and said owners shall not be entitled to any further share in any distribution of the assets of said bank.
Formerly: Acts 1943, c.39, s.2.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 1. Liquidation of Banks › 28-3-1-3. Surrender of Certificate of Incorporation

Sec. 3. When the affairs of said bank shall have been completely liquidated, its officers shall at once surrender its certificate of incorporation to the secretary of state who shall cancel same, and said certificate shall thereafter be void and of no legal effect.
Formerly: Acts 1943, c.39, s.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 1. Liquidation of Banks › 28-3-1-4. Alternative Method

Sec. 4. This chapter shall not be construed to repeal any other law providing for the liquidation of banks, but it shall be construed as providing an alternative method for the liquidation of banks.
Formerly: Acts 1943, c.39, s.4. As amended by P.L.263-1985, SEC.128.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 2. Merger─state Banks and National Associations › 28-3-2-1. Authority to Convert, Merge, or Consolidate

Sec. 1. (a) Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, any bank or trust company may convert into or merge or consolidate with a national banking association. Nothing contained in this chapter or in any other law of this state shall be construed to require the approval of any officer, department, or agency of this state as a condition to the right of any bank or trust company to convert into or merge or consolidate with a national banking association. Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, upon approval by the department of financial institutions any national banking association may convert into or merge or consolidate with a resulting bank or trust company (as defined in IC 28-1-1-3). Approval shall be granted if the department of financial institutions determines by examination of the converting, merging, or consolidating institutions, or otherwise, that the resulting bank or trust company meets the standards as to location, condition of assets, capital structure, and quality of management required of banks and trust companies by IC 28-11-5 or IC 28-2.
(b) A savings bank may merge, consolidate, or join together with a national banking association under section 10 of this chapter.
Formerly: Acts 1953, c.69, s.1. As amended by P.L.263-1983, SEC.3; P.L.36-1987, SEC.18; P.L.171-1996, SEC.38.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 2. Merger─state Banks and National Associations › 28-3-2-2. Plan of Conversion, Merger, or Consolidation; Required Approvals

Sec. 2. The plan of conversion, merger, or consolidation shall be approved by the board of directors of the bank or trust company and shall be approved by the board of directors of the national banking association. In cases where a national banking association proposes to convert into a resulting bank or trust company, it shall follow the procedure prescribed by the laws of the United States and shall be granted a charter under and pursuant to the provisions of IC 28-1 or IC 28-12 upon filing articles of incorporation on forms prescribed by the director of the department of financial institutions and approved by the holders of at least two-thirds (2/3) of each class of the capital stock of the national banking association and with the approval of the department of financial institutions, as provided in section 1 of this chapter. In cases where a national banking association proposes to merge or consolidate with a resulting bank or trust company, the plan of merger or consolidation shall be in accordance with and subject to, and shall have the effect provided in, IC 28-1 pertaining to the merger and consolidation of banks and trust companies except as otherwise expressly provided in this chapter, but the provisions of IC 28-1-7-21 shall not apply to the extent that the provisions thereof conflict with the laws of the United States pertaining to the rights of dissenting shareholders of any national banking association upon the merger or consolidation of such association with a bank or trust company.
Formerly: Acts 1953, c.69, s.2. As amended by P.L.263-1985, SEC.129; P.L.14-1992, SEC.110; P.L.171-1996, SEC.39.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 2. Merger─state Banks and National Associations › 28-3-2-3. Shareholders' Meeting; Completion of Conversion, Merger, or Consolidation

Sec. 3. The board of directors of the bank or trust company and the board of directors of the national banking association shall each give notice of the time, place, and object of the shareholders' meeting, to act upon the plan of conversion, merger, or consolidation, to each of their respective shareholders of record, which notice may be waived specifically by any shareholder. The meeting of the shareholders of a bank or trust company shall be called in accordance with the provisions of IC 28-13, and the meeting of the shareholders of a national banking association shall be called in accordance with the provisions of the laws of the United States. The plan of conversion, merger, or consolidation shall be adopted provided the shareholders of at least two-thirds (2/3) of each class of the capital stock of the bank or trust company and the shareholders of at least two-thirds (2/3) of each class of the capital stock of the national banking association vote affirmatively in favor of such plan. The conversion of a bank or trust company into a national banking association shall be considered as completed upon the issuance of a national bank charter or other evidence of conversion by the comptroller of the currency. The conversion of a national banking association into a state bank shall be considered completed upon the acceptance of articles of incorporation by the department of financial institutions and the issuance of a certificate of incorporation by the secretary of state of the state of Indiana. The merger and consolidation of a bank or trust company with a national banking association shall be considered completed upon filing with the department of financial institutions a certificate of merger or consolidation executed by the comptroller of the currency. The merger and consolidation of a national banking association with a bank or trust company shall be considered completed upon the approval, by the department of financial institutions, of articles of merger or consolidation and the execution of a certificate of merger or consolidation by the secretary of state of the state of Indiana.
Formerly: Acts 1953, c.69, s.3. As amended by P.L.263-1985, SEC.130; P.L.171-1996, SEC.40.
2023 Indiana Code › Title 28. Financial Institutions › Article 3. Liquidation, Reorganization, and Merger › Chapter 2. Merger─state Banks and National Associations › 28-3-2-4. Termination of Corporate Status of State Bank Merged or Consolidated With National Banking Association

Sec. 4. Whenever any bank or trust company shall have merged or consolidated with a national banking association, such bank or trust company shall thereupon cease to be a corporation under the laws of this state, except that for a term of three (3) years thereafter its corporate existence shall be deemed to continue for the purpose of prosecuting or defending suits by or against it, and of enabling it to close its concerns, and to dispose of and convey its property.
Formerly: Acts 1953, c.69, s.4.