reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union › 28-1-33-13. Winding Up Activities

Sec. 13. The department may authorize the credit union resulting from a charter conversion under this chapter to do the following:
(1) Wind up any activities that the mutual savings bank legally engaged in at the effective time of the charter conversion but that otherwise are not permitted to credit unions.
(2) Retain for a transitional period any assets that the mutual savings bank legally held at the effective time of the charter conversion that otherwise may not be held by credit unions.
The terms and conditions of the winding up of activities under subdivision (1) and the retention of assets under subdivision (2) are subject to the discretion of the department. However, the transitional period during which activities may be carried out under subdivision (1) or assets may be retained under subdivision (2) may not exceed ten (10) years after the effective time of the charter conversion.
As added by P.L.1-2006, SEC.492.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union › 28-1-33-15. Filing Articles of Charter Conversion

Sec. 15. (a) To effect a charter conversion, the converting mutual savings bank must file with the secretary of state articles of charter conversion showing the approval of the director of the department.
(b) The converting mutual savings bank shall record copies of the articles of charter conversion with the county recorder of the county where the principal office of the credit union will be located.
(c) The articles of charter conversion constitute articles of incorporation of the resulting credit union and must set forth the elements required in IC 28-7-1-1(b).
As added by P.L.1-2006, SEC.492.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union › 28-1-33-16. Subject to Credit Union Statutes and Rules

Sec. 16. Upon the effective time of a charter conversion, the converted credit union is subject to all statutes and rules applicable to credit unions.
As added by P.L.1-2006, SEC.492.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 33. Charter Conversion of a Mutual Savings Bank Into a Credit Union › 28-1-33-17. Rulemaking Authority

Sec. 17. The department may adopt rules under IC 4-22-2 or policies to implement this chapter.
As added by P.L.1-2006, SEC.492.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 2. Transactions During Nonbusiness Hours › 28-2-2-1. Acts Done Outside Regular Banking Hours

Sec. 1. Nothing in any law of this state shall in any manner whatsoever affect the validity of or render void or voidable the payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by a bank or trust company in this state, because done or performed during any time other than regular banking hours; provided that nothing in this section shall be construed to compel any bank or trust company in this state, which by law or custom is entitled to close at noon on any business day or for the whole or any part of any legal holiday, to keep open for the transaction of business or to perform any of the acts or transactions enumerated in this section on any business day after such hour or on any legal holiday, except at its own option.
Formerly: Acts 1957, c.45, s.1. As amended by P.L.263-1985, SEC.117.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 5. Disaster Funds─low Cost Loans › 28-2-5-1. Proclamation of Disaster Area; Meeting of Board of Public Depository

Sec. 1. Within thirty (30) days after the governor has designated any area or areas of the state of Indiana as disaster areas by his proclamation, the board of public depository shall meet for the purpose of determination as to whether low cost loans are needed by the victims of the disaster.
Formerly: Acts 1967, c.148, s.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 5. Disaster Funds─low Cost Loans › 28-2-5-2. Determination of Need for Low Cost Loans; Interest Rate

Sec. 2. If the board of public depository determines that low cost loans are needed for use of the victims of the disaster it shall, by rule or regulation, establish interest rates of not less than one per cent (1%) nor more than five per cent (5%) for terms of not less than six (6) months nor more than seventy-two (72) months' duration, unless the board in anticipation of the possibility of any such disaster, has, in the manner provided by law, already put into effect such rules and regulations in compliance with the provisions of this chapter.
Formerly: Acts 1967, c.148, s.2. As amended by Acts 1979, P.L.264, SEC.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 5. Disaster Funds─low Cost Loans › 28-2-5-3. Deposit of Matching State Funds in Disaster Area Bank

Sec. 3. The treasurer of state shall deposit in any bank in the general area of the disaster an amount of interest-free state money equal to the amount of the loan granted by the lending bank when the bank has provided the treasurer of state with a copy of the loan instrument showing the name of the borrower, amount of loan, rate of interest and terms of loan.
Formerly: Acts 1967, c.148, s.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 6. Securities Held by Nominees › 28-2-6-1. Authority to Register Securities in Name of Nominee; Liability

Sec. 1. Any bank, trust company, or corporate fiduciary incorporated under the laws of this state, and any national banking association incorporated under the laws of the United States and having its principal banking office in this state, may, when acting in any fiduciary capacity, whether as sole fiduciary or as co-fiduciary, cause any stocks, bonds, or other securities held by it in such fiduciary capacity to be registered and held in the name or names of any nominee or nominees of such bank, trust company or national banking association, Provided, however, that: (1) if such bank, trust company, corporate fiduciary, or national banking association be acting as a co-fiduciary, it shall secure the consent of its co-fiduciary or co-fiduciaries, who is or are hereby authorized to give such consent, to the registration and holding of such stocks, bonds, or other securities in the name of a nominee or nominees of such bank, trust company, corporate fiduciary, or national bank, and (2) the records of the fiduciary or fiduciaries shall at all times clearly show the ownership of such stocks, bonds, or other securities, and investments so registered shall at all times be in the possession and under the control of the fiduciary. Any bank, trust company, corporate fiduciary, or national banking association shall be liable in its individual capacity for any loss to the trust or estate resulting from any of the acts, or omissions to act, of such nominee or nominees in connection with the stocks, bonds, or other securities so held to the same extent as if such stocks, bonds, or other securities had been held in the name of such bank, trust company, corporate fiduciary, or national banking association as fiduciary.
Formerly: Acts 1947, c.115, s.1. As amended by P.L.262-1995, SEC.50.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 6. Securities Held by Nominees › 28-2-6-2. Application of Chapter

Sec. 2. The provisions of this chapter shall be applicable to banks, trust companies, corporate fiduciaries, and national banking associations acting on or after August 20, 1947, under wills, trusts, agreements, court orders, and other instruments existing or made on or after August 20, 1947.
Formerly: Acts 1947, c.115, s.2. As amended by P.L.263-1985, SEC.118; P.L.262-1995, SEC.51.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 7. Fiduciary Bonds › 28-2-7-1. General Exemption From Requirement for Bond

Sec. 1. Any bank, trust company, or corporate fiduciary organized under the laws of the state of Indiana or of the United States of America and operating a bank, trust company, or corporate fiduciary which is located within the state of Indiana, which is acting on December 12, 1945, or which may act, after December 12, 1945, in a fiduciary capacity in any estate, trust, receivership, action, matter, or proceeding pending on or after December 12, 1945, in any court created by the Constitution or the laws of the state of Indiana, shall not, while so acting, except as provided in section 2 of this chapter, be required to file in said court any bond conditioned:
(1) for the full performance of its duties;
(2) to account for the funds or property which may come into its possession; or
(3) for any other purpose whatsoever.
Formerly: Acts 1945, c.248, s.1. As amended by P.L.263-1985, SEC.119; P.L.262-1995, SEC.52.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 7. Fiduciary Bonds › 28-2-7-2. Order for Bond at Initiation of Proceedings; Notice to Show Cause

Sec. 2. The court in which said estate, trust, receivership, action, matter, or proceeding is pending may, at the time it is filed or instituted, refuse to permit said fiduciary to take advantage and have the benefits of section 1 of this chapter or may, at any time during the pendency thereof, cause a written notice to be served upon said fiduciary to show cause why an order should not be entered, requiring it to file the bond or bonds which it would be or have been required to file but for the provisions of section 1 of this chapter, and it shall be stated in said notice the date upon which a hearing thereon shall be held.
Formerly: Acts 1945, c.248, s.2. As amended by P.L.263-1985, SEC.120.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 7. Fiduciary Bonds › 28-2-7-3. Order After Hearing

Sec. 3. After said hearing shall have been held, the court shall enter an order either:
(1) permitting said fiduciary to continue to act as such, in accordance with the provisions of section 1 of this chapter; or
(2) requiring it to file, within the time fixed by the court, the bond or bonds it would be or have been required to file but for the provisions of section 1 of this chapter.
Formerly: Acts 1945, c.248, s.3. As amended by P.L.263-1985, SEC.121.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 7. Fiduciary Bonds › 28-2-7-4. Failure to File Bond; Vacating Order Appointing Institution as Fiduciary

Sec. 4. If any bond, which is ordered filed in accordance with the provisions of section 3 of this chapter, is not filed within the time so fixed by the court, the order appointing said fiduciary or permitting it to act as such in said estate, trust, receivership, action, matter, or proceeding shall be deemed to be vacated and set aside.
Formerly: Acts 1945, c.248, s.4. As amended by P.L.263-1985, SEC.122.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-1. Acquired Bank

Sec. 1. As used in this chapter, "acquired bank" means:
(1) any nonsurviving bank in a merger or consolidation of banks; or
(2) any bank that:
(A) sells all or substantially all of its assets; and
(B) subsequently dissolves as a result of the transaction.
As added by P.L.265-1985, SEC.3. Amended by P.L.171-1996, SEC.29.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-2. Acquiring Bank

Sec. 2. As used in this chapter, "acquiring bank" means the surviving bank in a merger of banks, the new corporation in a consolidation of banks, or the bank that purchases all, or substantially all, of the assets of another bank.
As added by P.L.265-1985, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-3. Affiliate

Sec. 3. As used in this chapter, "affiliate" means, as to a bank controlled by one (1) or more bank holding companies, another bank, savings bank, or savings association controlled by the same bank holding company or bank holding companies.
As added by P.L.265-1985, SEC.3. Amended by P.L.262-1995, SEC.53; P.L.171-1996, SEC.30; P.L.79-1998, SEC.62.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-5. Bank

Sec. 5. As used in this chapter, "bank" has the meaning set forth in IC 28-2-17-3.
As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.22; P.L.42-1993, SEC.60; P.L.171-1996, SEC.31.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-6. Bank Holding Company

Sec. 6. (a) As used in this chapter, "bank holding company" means any company that has or acquires control over:
(1) any bank; or
(2) any company that has or acquires control over any bank.
(b) For the purposes of this chapter:
(1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the shares are held for the benefit of the shareholders of the bank;
(2) a company is not a bank holding company by virtue of its ownership or control of shares that are acquired by the company in connection with its underwriting of securities and that are held only for such a period of time as will permit the sale of the shares on a reasonable basis;
(3) a company formed for the sole purpose of participating in a proxy solicitation is not a bank holding company by virtue of its control of voting rights of shares acquired in the course of the solicitation; and
(4) a company is not a bank holding company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two (2) years after the date of acquisition.
The department may extend, from time to time but for not more than one (1) year at a time, the two (2) year period referred to in subdivision (4), but the extension may not, in the aggregate, exceed three (3) years.
(c) For the purposes of this chapter, any successor to a bank holding company is a bank holding company from the date as of which the predecessor company became a bank holding company.
As added by P.L.265-1985, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-7. Branch

Sec. 7. As used in this chapter, "branch" means any office, agency, mobile unit, messenger service, or other place of business at which deposits are received, checks paid, or money lent. However, the term does not include:
(1) the principal office of a bank;
(2) the principal office of an affiliate;
(3) a branch of an affiliate;
(4) an automated teller machine;
(5) a night depository;
(6) a temporary facility authorized in IC 28-2-13-22.5;
(7) a loan production office;
(8) a deposit production office; or
(9) other service delivery mechanisms not considered by the director to be a branch.
As added by P.L.265-1985, SEC.3. Amended by P.L.164-1988, SEC.4; P.L.14-1992, SEC.108; P.L.171-1996, SEC.32; P.L.35-2010, SEC.141.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-8. Branch by Acquisition

Sec. 8. As used in this chapter, "branch by acquisition" means a branch acquired by a bank as a result of a merger or consolidation of that bank with another bank or a purchase of all or substantially all of the assets of another bank.
As added by P.L.265-1985, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-9. Branch De Novo

Sec. 9. As used in this chapter, "branch de novo" means a branch established by the opening of a new branch and includes a branch or branches acquired from another bank without acquiring substantially all of the assets of the other bank.
As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.23; P.L.171-1996, SEC.33.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-10. Company

Sec. 10. As used in this chapter, "company" means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization, domestic or foreign. The term may or may not include a bank holding company as the context indicates. The term does not include a bank.
As added by P.L.265-1985, SEC.3. Amended by P.L.8-1993, SEC.445.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-12. Control

Sec. 12. As used in this chapter, "control" means directly or indirectly:
(1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company;
(2) to control in any manner the election of a majority of the directors or trustees of a bank or company; or
(3) to exercise a controlling influence over the management or policies of a bank or company, as determined by the Board of Governors of the Federal Reserve System after notice and opportunity for hearing.
As added by P.L.265-1985, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-13. Department

Sec. 13. As used in this chapter, "department" refers to the department of financial institutions created under IC 28-11-1-1.
As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.24.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-16. Indiana Affiliate

Sec. 16. As used in this chapter, "Indiana affiliate" means, as to a bank controlled by one (1) or more bank holding companies, another Indiana bank controlled by the bank holding company or bank holding companies.
As added by P.L.265-1985, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-19. Branch De Novo or Branch by Acquisition; Approval of Department Required; Compliance With Statutes; Exemption From Approval Requirements

Sec. 19. (a) Subject to subsections (b) and (c), a state bank is entitled to establish one (1) or more branches de novo and one (1) or more branches by acquisition in any location or locations within Indiana.
(b) A state bank is entitled to establish a branch de novo under this section with the written approval of the department. The location of any branch established under this section may be changed at any time to a location within Indiana when the change of location is authorized by the board of directors of the state bank and approved by the department. A state bank desiring to establish one (1) or more branches de novo under this section must file a written application in the form prescribed by the director. The department may approve or disapprove the application. Before the department approves the application, the state bank must demonstrate to the satisfaction of the department that the applicant state bank will have adequate capital, sound management, and adequate future earnings prospects after the establishment of the branch.
(c) The investigation of the department relative to any application as required by this section shall be conducted without a public hearing.
(d) A branch by acquisition may be established under this section only if done in compliance with applicable provisions of IC 28-1-7, IC 28-1-8, or IC 28-3-2.
(e) The department may establish criteria to exempt a state bank from the approval requirements described in this section.
As added by P.L.265-1985, SEC.3. Amended by P.L.279-1987, SEC.3; P.L.36-1987, SEC.9; P.L.33-1991, SEC.25; P.L.42-1993, SEC.61; P.L.122-1994, SEC.87; P.L.171-1996, SEC.34; P.L.192-1997, SEC.6; P.L.69-2018, SEC.50.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-20. Repealed

As added by P.L.265-1985, SEC.3. Amended by P.L.279-1987, SEC.4; P.L.36-1987, SEC.10; P.L.5-1988, SEC.153; P.L.259-1989, SEC.1. Repealed by P.L.33-1991, SEC.57.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-20.5. Branch; Establishment Through Transaction With Savings Association

Sec. 20.5. Notwithstanding any other provision of this title, upon receipt of approval by the department and all required federal regulatory approvals, a state bank is entitled to establish a branch through a transaction with a savings association (as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b)), if the transaction otherwise complies with this chapter.
As added by P.L.33-1991, SEC.26. Amended by P.L.42-1993, SEC.62; P.L.11-1998, SEC.6; P.L.35-2010, SEC.142.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-22. Automated Teller Machine

Sec. 22. (a) A state bank is entitled to open or establish an automated teller machine in any location within Indiana or as permitted by the laws of the state in which the automated teller machine is to be located.
(b) An automated teller machine may be owned or operated individually by any state bank or jointly on a cost sharing or fee basis.
As added by P.L.265-1985, SEC.3. Amended by P.L.42-1993, SEC.63; P.L.192-1997, SEC.7.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-22.5. Temporary Facilities on College or University Premises

Sec. 22.5. (a) A state bank is entitled to establish a temporary facility on the premises of an accredited college or university in Indiana for the purpose of offering limited account services.
(b) The services that may be offered at a temporary facility established under this section include:
(1) the opening of accounts;
(2) the acceptance of deposits; and
(3) other services determined by the department.
(c) To establish a temporary facility under this section, a state bank is not required to submit an application to the department. However, before establishing a temporary facility under this section, a state bank must:
(1) obtain the written permission of the college or university for the establishment and operation of the facility on the premises of the college or university; and
(2) notify the department in writing of the intention of the state bank to establish the temporary facility.
(d) A written notice provided to the department under subsection (c)(2) must:
(1) be in the form; and
(2) contain the information;
prescribed by the department.
(e) A temporary facility operated by a state bank under this section:
(1) may be operated only:
(A) during registration periods of the college or university; and
(B) for an additional period that may not exceed seven (7) days during a calendar year; and
(2) must meet all other requirements of state law applying to state banks.
As added by P.L.262-1995, SEC.54.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-22.6. Intermittent Facilities on School Premises; Services; Notice to Department; Operation

Sec. 22.6. (a) As used in this chapter, "school" means:
(1) an elementary school (as defined in IC 20-18-2-4); or
(2) a secondary school (as defined in IC 20-18-2-18).
The term includes a public school (as defined in IC 20-18-2-15) or a nonpublic school (as defined in IC 20-18-2-12).
(b) A state bank is entitled to establish an intermittent facility on the premises of a school in Indiana for the purpose of offering limited account services as an educational tool for students.
(c) The services that may be offered at an intermittent facility established under this section include:
(1) the opening of accounts;
(2) the acceptance of deposits; and
(3) other services determined by the department.
(d) To establish an intermittent facility under this section, a state bank is not required to submit an application to the department. However, before establishing an intermittent facility under this section, a state bank must:
(1) obtain the written permission of:
(A) the governing body of the school corporation, for a public school; or
(B) the equivalent authority for a nonpublic school;
for the establishment and operation of the facility on the premises of the school; and
(2) notify the department in writing of the intention of the state bank to establish the intermittent facility.
(e) A written notice provided to the department under subsection (d)(2) must:
(1) be in the form; and
(2) contain the information;
prescribed by the department.
(f) An intermittent facility operated by a state bank under this section:
(1) may be operated only during the school year; and
(2) must meet all other requirements of state law applying to state banks.
As added by P.L.90-2008, SEC.34.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-23. Failure to Comply; Class a Infraction; Violation of Chapter; Injunctions, Costs, and Fees; Powers of Department

Sec. 23. A person who fails to comply with this chapter commits a Class A infraction. 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 bank may sue the bank to enjoin the conduct or for damages, together with the costs of suit, including reasonable attorney's fees. In addition to the powers of the department under IC 28-11-4, 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 acquired or branch established in violation of this chapter.
As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.27.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-25. Availability of Deposited Funds for Customer Withdrawal

Sec. 25. This chapter does not affect any federal or state statutory requirements for a bank to make deposited funds available for withdrawal to its customers within designated time periods.
As added by P.L.164-1988, SEC.5.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 13. Branch Banks › 28-2-13-26. Trust Office; Powers; Prohibited Actions

Sec. 26. (a) A bank, trust company, corporate fiduciary, or savings bank organized under the laws of Indiana or the laws of any other state or the United States may establish a trust office to exercise its powers as a fiduciary to conduct business in any location that is approved by the department. Before the department approves a trust office to exercise powers as a fiduciary under this subsection, it must determine to its satisfaction that the bank, trust company, corporate fiduciary, or savings bank will have adequate capital, sound management, and adequate future earnings prospects after the establishment of the trust office.
(b) A trust office established under this section by a bank, trust company, or savings bank shall not:
(1) receive deposits;
(2) pay checks; or
(3) lend money;
at the trust office.
As added by P.L.122-1994, SEC.88. Amended by P.L.262-1995, SEC.55; P.L.258-2003, SEC.7; P.L.27-2012, SEC.76.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-1. Acquire

Sec. 1. As used in this chapter, "acquire" means directly or indirectly:
(1) to merge or consolidate with;
(2) to assume control of; or
(3) to purchase all or substantially all of the assets of.
As added by P.L.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-2. Bank

Sec. 2. (a) As used in this chapter, "bank" means a financial institution:
(1) that has been organized or reorganized under the laws of the United States or the state of Indiana;
(2) that has its principal office in Indiana; and
(3) that:
(A) is an "insured bank" (as defined in Section 3(h) of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or is eligible to make application to become an insured depository institution under Section 5 of the Federal Deposit Insurance Act (12 U.S.C. 1815); or
(B) is a stock savings bank that was formed as a result of a conversion under IC 28-1-21.8 or IC 28-1-21.9 or incorporated under IC 28-12.
(b) Except as provided in subsection (a)(3)(B), the term "bank" does not include:
(1) any institution that has been or is chartered or regulated as a federal savings association or federal savings bank under Section 5 of the Home Owners Loan Act (12 U.S.C. 1464);
(2) institutions of the "Farm Credit System" as described in 12 U.S.C. 2001 through 2260, which include the Farm Credit Banks, the Federal Land Bank Associations, the Production Credit Associations, the Banks for Cooperatives, and any other institution that may become a part of the Farm Credit System, as chartered by and subject to the supervision of the Farm Credit Administration; or
(3) any other institution that has been organized or reorganized as a savings association, credit union, or industrial loan and investment company.
As added by P.L.265-1985, SEC.4. Amended by P.L.33-1991, SEC.28; P.L.42-1993, SEC.64; P.L.122-1994, SEC.89; P.L.79-1998, SEC.63; P.L.27-2012, SEC.77.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-3. Bank Holding Company

Sec. 3. (a) As used in this chapter, "bank holding company" means any company that controls one (1) or more banks.
(b) For the purposes of this chapter:
(1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the shares are held for the benefit of the shareholders of the company;
(2) a company is not a bank holding company by virtue of its ownership or control of shares that are acquired by the company in connection with its underwriting of securities and that are held only for such a period of time as will permit the sale of the shares on a reasonable basis;
(3) a company formed for the sole purpose of participating in a proxy solicitation is not a bank holding company by virtue of its control of voting rights of shares acquired in the course of the solicitation; and
(4) a company is not a bank holding company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two (2) years after the date of acquisition.
The department may extend, from time to time but for not more than one (1) year at a time, the two (2) year period referred to in subdivision (4), but the extensions may not, in the aggregate, exceed three (3) years.
(c) For the purposes of this chapter, any successor to a bank holding company is a bank holding company from the date as of which the predecessor company became a bank holding company.
As added by P.L.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-5. Company

Sec. 5. As used in this chapter, "company" means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization, domestic or foreign. The term may or may not include a bank holding company as the context indicates. The term does not include a bank.
As added by P.L.265-1985, SEC.4. Amended by P.L.8-1993, SEC.446.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-6. Control

Sec. 6. As used in this chapter, "control" means directly or indirectly:
(1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company;
(2) to control in any manner the election of a majority of the directors or trustees of a bank or company; or
(3) to exercise a controlling influence over the management or policies of a bank or company, as determined by the Board of Governors of the Federal Reserve System after notice and opportunity for hearing.
As added by P.L.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-7. Department

Sec. 7. As used in this chapter, "department" refers to the department of financial institutions created under IC 28-11-1-1.
As added by P.L.265-1985, SEC.4. Amended by P.L.33-1991, SEC.29.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-8. Deposits

Sec. 8. As used in this chapter, "deposits" means the sum of the total demand deposits and total time and savings deposits of a particular bank as shown in its most recently filed consolidated report of condition in the possession of the Board of Governors of the Federal Reserve System or other supervising agency.
As added by P.L.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-10. Acquisitions of Banks and Bank Holding Companies

Sec. 10. (a) Subject to the limitations provided in section 12 of this chapter and in IC 28-2-15-22(a) (repealed July 1, 1992) or IC 28-2-16-20(a), and after approval by the department:
(1) any bank holding company that has its principal office in Indiana is entitled to acquire one (1) or more banks or bank holding companies; and
(2) any company that has its principal office in Indiana is entitled to acquire two (2) or more banks or bank holding companies.
(b) Except as expressly permitted by this chapter and IC 28-2-13-19:
(1) a bank holding company that has its principal office in Indiana may not acquire a bank or a bank holding company; and
(2) a company that has its principal office in Indiana may not acquire two (2) or more banks or bank holding companies.
As added by P.L.265-1985, SEC.4. Amended by P.L.36-1987, SEC.11; P.L.3-1990, SEC.102; P.L.33-1991, SEC.30; P.L.42-1993, SEC.65.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-11. Repealed

As added by P.L.265-1985, SEC.4. Amended by P.L.279-1987, SEC.6; P.L.164-1988, SEC.6; P.L.147-1990, SEC.4. Repealed by P.L.33-1991, SEC.57.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-14. Findings of Fact

Sec. 14. If the department accepts an application for processing under section 12 of this chapter, the department shall issue an order approving or disapproving the acquisition. The department shall include its findings of fact in the order. If the department holds a hearing under section 13 of this chapter, the findings of fact must include a finding that the terms and conditions of the acquisition and of the issuance and exchange of stock of the applicant for the stock of the bank or bank holding company proposed to be acquired are or are not fair and reasonable to the shareholders of the bank or bank holding company proposed to be acquired.
As added by P.L.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-15. Exemption From Certain Requirements

Sec. 15. (a) An acquisition by a company of a bank or a 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 bank holding company; and
(2) immediately merged with or consolidated into another bank owned by the acquiring bank holding company;
the acquisition of the bank is exempt from the provisions of this chapter.
As added by P.L.265-1985, SEC.4. Amended by P.L.262-1995, SEC.56.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-16. Suit to Enjoin Conduct or for Damages by Injured Person; Suit by Department

Sec. 16. 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.265-1985, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 14. Indiana Bank Holding Companies › 28-2-14-19. Assumed Business Names; Bank Holding Companies; Resolutions

Sec. 19. (a) The board of directors of a bank holding company that adopts a resolution under section 18(c) of this chapter may in that resolution or a subsequent resolution provide that all or a part of the trust business of an Indiana affiliate of the bank holding company may be conducted under an assumed business name specified in the resolution.
(b) A copy of the resolution must be:
(1) certified by the secretary or the assistant secretary of the bank holding company;
(2) filed with the department; and
(3) recorded in the county recorder's office:
(A) in each county in which an Indiana affiliate affected by the resolution maintains an office at which trust business is conducted under an assumed business name provided for in the resolution; and
(B) on or before the earlier of:
(i) thirty (30) days after the adoption of the resolution; or
(ii) the first day trust business is conducted in any county under the assumed business name provided for in the resolution.
As added by P.L.196-1991, SEC.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-1. "Acquire" Defined

Sec. 1. As used in this chapter, "acquire" means directly or indirectly:
(1) to merge or consolidate with;
(2) to assume control of; or
(3) to purchase all or substantially all of the assets of.
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 › 28-2-16-2. "Bank"

Sec. 2. (a) As used in this chapter, "bank" means a financial institution:
(1) that has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia; and
(2) that:
(A) is an "insured bank" (as defined in Section 3(h) of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or is eligible to make application to become an insured depository institution under Section 5 of the Federal Deposit Insurance Act (12 U.S.C. 1815); or
(B) is a stock savings bank that was formed as a result of conversion under IC 28, incorporated under IC 28-12, or organized or reorganized under the laws of any other state of the United States.
(b) Except as provided in subsection (a)(2)(B), the term "bank" does not include:
(1) any institution that has been or is chartered or regulated as a federal savings association or federal savings bank under Section 5 of the Home Owners Loan Act (12 U.S.C. 1464);
(2) institutions of the "Farm Credit System" as described in 12 U.S.C. 2001 through 2260, which include the Farm Credit Banks, the Federal Land Bank Associations, the Production Credit Associations, the Banks for Cooperatives, and any other institution that may become a part of the Farm Credit System, as chartered by and subject to the supervision of the Farm Credit Administration; or
(3) any other institution that has been organized or reorganized as a savings association, a credit union, or an industrial loan and investment company.
As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.38; P.L.42-1993, SEC.67; P.L.122-1994, SEC.92; P.L.79-1998, SEC.64; P.L.27-2012, SEC.78.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-3. "Bank Holding Company" Defined

Sec. 3. (a) As used in this chapter, "bank holding company" means any company that controls one (1) or more banks.
(b) For the purposes of this chapter:
(1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the shares are held for the benefit of the shareholders of the company;
(2) a company is not a bank holding company by virtue of its ownership or control of shares that are acquired by the company in connection with its underwriting of securities and that are held only for a period of time as will permit the sale of the shares on a reasonable basis;
(3) a company formed for the sole purpose of participating in a proxy solicitation is not a bank holding company by virtue of its control of voting rights of shares acquired in the course of the solicitation; and
(4) a company is not a bank holding company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two (2) years after the date of acquisition.
The department may extend, from time to time but for not more than one (1) year at a time, the two (2) year period referred to in subdivision (4), but the extensions may not, in the aggregate, exceed three (3) years.
(c) For the purposes of this chapter, any successor to a bank holding company is a bank holding company from the date the predecessor company became a bank holding company.
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 › 28-2-16-5. "Company" Defined

Sec. 5. As used in this chapter, "company" means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization that has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia. The term may or may not include a bank holding company as the context indicates. The term does not include a bank.
As added by P.L.279-1987, SEC.9. Amended by P.L.8-1993, SEC.447.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-6. "Control" Defined

Sec. 6. As used in this chapter, "control" means directly or indirectly:
(1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company;
(2) to control in any manner the election of a majority of the directors or trustees of a bank or company; or
(3) to exercise a controlling influence over the management or policies of a bank or company, as determined by the Board of Governors of the Federal Reserve System after notice and opportunity for hearing.
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 › 28-2-16-7. "Department" Defined

Sec. 7. As used in this chapter, "department" refers to the department of financial institutions created under IC 28-11-1-1.
As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.39.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-8. "Deposits" Defined

Sec. 8. As used in this chapter, "deposits" has the meaning set forth in IC 28-2-14-8.
As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.40.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-9. "Foreign Bank Holding Company" Defined

Sec. 9. As used in this chapter, "foreign bank holding company" means a bank holding company that has its principal place of business in a state other than Indiana.
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 › 28-2-16-14. "Principal Place of Business" Defined

Sec. 14. For the purposes of this chapter, the "principal place of business" of a bank holding company is the state in which the total deposits of the bank subsidiaries of the bank holding company are the largest.
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 › 28-2-16-15. Acquisition of Financial Institutions

Sec. 15. Subject to the limitations of this chapter, a foreign bank holding company is entitled to acquire one (1) or more:
(1) Indiana banks;
(2) Indiana bank holding companies; or
(3) foreign bank holding companies that have acquired one (1) or more Indiana banks;
after approval by the department.
As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.41; P.L.42-1993, SEC.68.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-16. Repealed

As added by P.L.279-1987, SEC.9. Amended by P.L.164-1988, SEC.9; P.L.147-1990, SEC.7; P.L.33-1991, SEC.42; P.L.42-1993, SEC.69; P.L.122-1994, SEC.93; P.L.262-1995, SEC.58. Repealed by P.L.171-1996, SEC.44.
2023 Indiana Code › Title 28. Financial Institutions › Article 2. Banks › Chapter 16. Foreign Bank Holding Companies › 28-2-16-19. Foreign Bank Holding Company Acquisition of Indiana Bank or Bank Holding Company; Findings and Orders

Sec. 19. If the department accepts an application for processing under section 17 of this chapter, the department shall issue an order approving or disapproving the acquisition. The department shall include its findings of fact in the order. If the department holds a hearing under section 18 of this chapter, the findings of fact must include a finding that the terms and conditions of the acquisition and of the issuance and exchange of stock of the applicant for the stock of the Indiana bank or Indiana bank holding company proposed to be acquired are or are not fair and reasonable to the shareholders of the Indiana bank or Indiana bank holding company proposed to be acquired.
As added by P.L.279-1987, SEC.9.