Requirements for corporations organized or reorganized under this title

Sec. 1. (a) This section applies only to a corporation that is organized or reorganized under Indiana law and is any of the following: (1) A bank and trust company. (2) A bank. (3) A savings bank. (4) A trust company. (5) A savings association. (6) An industrial loan and investment company. (7) A credit union. (8) A corporate fiduciary. (9) A bank of discount and deposit. (10) A loan and trust and safe deposit company. (b) The department shall determine the minimum amount of the capital of a corporation organized or reorganized under this title after giving consideration to: (1) the potential deposit liability to be anticipated, in the case of a proposed new corporation; or (2) the existing deposit liability, in the case of a corporation to be reorganized. As added by P.L.42-1993, SEC.92. Amended by P.L.122-1994, SEC.117; P.L.258-2003, SEC.24; P.L.213-2007, SEC.101; P.L.217-2007, SEC.99.