Paying interest and expenses

Ind. Code § 28-6.1-7-13, under Powers of a Savings Bank Subject to the Rules of the Department.

Ind. Code § 28-6.1-7-13

Sec. 13. A savings bank may not pay: (1) interest contracted for with a depositor; or (2) other expenses incurred in operating the business of the savings bank; except from current earnings or undivided profits without the approval of the department.

As added by P.L.42-1993, SEC.72.