Title 28, FINANCIAL INSTITUTIONS

Sec. 12.5. Subject to any limitations imposed by the department through policy, a bank or trust company may do any of the following: (1) Invest the money deposited in the bank or trust company in the shares of the capital stock, bonds, debentures, notes, or other obligations of a…

Sec. 13. Any bank or trust company shall have power to demand and receive for the faithful performance and discharge of services performed pursuant to the powers vested in it by this article reasonable compensation, or such compensation as shall have been fixed by agreement of th…

Sec. 14. (a) As used in this section, "community based economic development" refers to activities that seek to address economic development through affordable housing development or the rehabilitation of qualified rehabilitated buildings or certified historic structures, or that …

Sec. 2. Any bank or trust company shall have power to act as fiscal or transfer agent of the United States or of any state, municipality, body politic or corporation; and in such capacity to receive and disburse money; to transfer, register and countersign certificates of stock, …

Sec. 2.5. (a) A bank or trust company may act as an insurance producer for the sale of any life insurance policy or annuity contract issued by a life insurance company authorized to do business in any state in which the agent operates. (b) A bank or trust company that acts as an …

Sec. 3.1. (a) Any bank or trust company shall have the power to discount, negotiate, sell and guarantee promissory notes, bonds, drafts, acceptances, bills of exchange, and other evidences of debt; to buy and sell, exchange, coin and bullion; to loan money; to borrow money and to…

Sec. 3.2. (a) As used in this section, "rights and privileges" means the power: (1) to: (A) create; (B) deliver; (C) acquire; or (D) sell; a product, a service, or an investment that is available to or offered by; or (2) to engage in mergers, consolidations, reorganizations, or o…

Sec. 4. (a) Except as otherwise provided in this article, the business of dealing in investment securities by any bank or trust company is limited to purchasing and selling securities without recourse, solely upon the order and for the account of customers and in no event for its…

Sec. 5. (a) In addition to the powers set forth in section 3.1 of this chapter, any bank or trust company shall have power to purchase, hold, and convey real estate for the following purposes, and for no others: (1) Such as shall be necessary for the convenient transaction of its…

Sec. 6. Any bank or trust company may be appointed and act under the order of appointment of any court of competent jurisdiction as commissioner for the sale of real estate, guardian of the person and estate of persons under the age of eighteen (18) years, and incapacitated perso…

Sec. 7. Any bank or trust company shall have power to be appointed and to accept the appointment and act as executor or trustee under the last will and testament, or as administrator, with or without the will annexed, of the estate of any deceased person, and to be appointed and …

Sec. 8. Any bank or trust company shall have power to be appointed and to act under the order of appointment of any court of competent jurisdiction as guardian, trustee, executor or administrator, with or without the will annexed, on the application or consent of any person actin…

Sec. 9. Any bank or trust company shall have power to take, accept and execute any and all legal trusts, duties, and powers in regard to the holding, management, sale and disposition of any property or estate, real or personal, wherever located, and the rents and profits thereof,…

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 investme…

Sec. 1.5. (a) A corporate fiduciary must have at least the minimum capital necessary for the safe and sound operation of the corporate fiduciary. (b) For the purposes of this section, the department shall determine the minimum capital that is necessary for the safe and sound oper…

Sec. 2. (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 investme…

Sec. 3. The department shall determine the capital stock requirements of a savings association organized or reorganized under this title after giving consideration to the following: (1) In the case of a proposed new savings association, the potential deposit liability anticipated…

Sec. 1. A director shall, based on facts then known to the director, discharge the duties of a director, including the director's duties as a member of a committee: (1) in good faith; (2) with the care an ordinarily prudent person in a like position would exercise under similar c…

Sec. 10. (a) Subject to section 5 of this chapter, a director who votes for or assents to a distribution made in violation of this article or the articles of incorporation is personally liable to the corporation for the amount of the distribution that exceeds what could have been…

Sec. 2. In discharging the director's duties, a director is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by: (1) at least one (1) officer or employee of the corporation whom th…

Sec. 3. A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance otherwise permitted by section 2 of this chapter unwarranted. As added by P.L.14-1992, SEC.163.

Sec. 4. A director may, in considering the best interests of a corporation, consider the effects of any action on shareholders, employees, suppliers, and customers of the corporation, and the communities in which offices or other facilities of the corporation are located, and any…

Sec. 5. (a) A director is not liable for any action taken as a director, or any failure to take any action, unless: (1) the director has breached or failed to perform the duties of the director's office under sections 1 through 4 of this chapter; and (2) the breach or failure to …

Sec. 6. (a) In enacting this article, the general assembly established corporate governance rules for Indiana corporations, including in this chapter the standards of conduct applicable to directors of Indiana corporations, and the corporate constituent groups and interests that …

Sec. 7. (a) In taking or declining to take any action, or in making or declining to make any recommendation to the shareholders of the corporation with respect to any matter, a board of directors of a corporation may, in the board's discretion, consider both the short term and lo…

Sec. 8. (a) For the purposes of section 7 of this chapter, a director is disinterested if: (1) the director does not have a conflict of interest, within the meaning of section 9(a) of this chapter, in connection with the action or recommendation in question; (2) in connection wit…

Sec. 9. (a) A conflict of interest transaction is a transaction with the corporation in which a director of the corporation has a direct or indirect interest. Unless otherwise provided under federal or state laws, regulations, or rules, a conflict of interest transaction is not v…

Sec. 1. As used in this chapter, "adjustable mortgage loan" means a loan: (1) whose terms permit adjustments to the interest rate that: (A) reflect the movement of the money cost index; and (B) are implemented through changes in the monthly payment amounts, adjustments to the out…

Sec. 10. As used in this chapter, "rollover mortgage" means a mortgage loan that: (1) is secured by a first mortgage on real estate improved by: (A) a dwelling intended for occupancy by at least one (1) and not more than four (4) families; or (B) a combination home and business b…

Sec. 11. As used in this chapter, "standard mortgage loan" means a loan under which the principal and interest are paid in equal monthly installments for a period of not more than forty (40) years. As added by P.L.193-1997, SEC.2.

Sec. 12. (a) Graduated payment mortgage (GPM) loans are subject to the following: (1) Interest only may be paid for five (5) years, or increases in mortgage payments may be made for periods of not more than ten (10) years within the following maximum rates of increase: (A) Seven …

Sec. 14. Adjustable mortgage loans are subject to the following: (1) Adjustments to the principal loan balance are permissible only if: (A) the initial payment amount is sufficient to fully amortize the loan at the beginning of the loan term; and (B) the payment amount is adjuste…

Sec. 15. A savings association may make graduated payment adjustable mortgage loans subject to the requirements set forth in section 14 of this chapter, except that: (1) the amount of the scheduled monthly payment at the beginning of the loan may be insufficient to fully amortize…

Sec. 16. Rollover mortgage loans are subject to the following: (1) At each scheduled adjustment time, if the loan is not in default, the lender shall make rate adjustments available for the amount of the outstanding loan. (2) In adjusting the loan, administrative expenses may not…

Sec. 17. (a) Any statement, disclosure, or notification required by this chapter with respect to an alternative mortgage loan may be made in the form prescribed by the primary federal regulator or its successor for a similar alternative mortgage loan made by a federal savings ass…

Sec. 18. (a) Subsections (b) and (c) apply to alternative mortgage loans and to similar loans authorized under federal law or regulations for a federal savings association. (b) Any Indiana laws prohibiting: (1) the compounding of interest; (2) capitalizing interest because contra…

Sec. 2. As used in this chapter, "alternative mortgage loan" means a mortgage loan authorized by this chapter. As added by P.L.193-1997, SEC.2.

Sec. 3. As used in this chapter, "association" refers to a savings association (as defined in IC 28-15-1-11). As added by P.L.193-1997, SEC.2.

Sec. 4. As used in this chapter, "federal savings association" means any federal savings association or federal savings bank chartered or regulated under Section 5 of the Home Owners' Loan Act of 1933 (12 U.S.C. 1464). As added by P.L.193-1997, SEC.2. Amended by P.L.27-2012, SEC.…

Sec. 5. As used in this chapter, "graduated payment mortgage loan" or "GPM loan" means a mortgage loan under which: (1) the scheduled repayments begin at a level lower than that of a comparable standard mortgage loan and rise to a point determined by the loan documents; and (2) t…

Sec. 6. As used in this chapter, "loan documents" means the documents evidencing a loan transaction. As added by P.L.193-1997, SEC.2.

Sec. 7. As used in this chapter, "money cost index" means any of the following: (1) The Federal Cost of Funds Index calculated and made available by the Federal Home Loan Mortgage Corporation on or about the twentieth day of each month. (2) The monthly average of weekly auction r…

Sec. 8. As used in this chapter, "mortgage loan" means: (1) a loan: (A) secured by a mortgage on real estate that is improved by a dwelling intended for occupancy by at least one (1) and not more than four (4) families; and (B) that includes: (i) the note; (ii) the mortgage; and …

Sec. 9. As used in this chapter, "reverse annuity mortgage loan" or "RAM loan" means a mortgage loan that: (1) provides periodic payments to the borrower based on the accumulated equity in the real estate securing the loan, with payments made directly by the lender or through the…

Sec. 1. A savings bank may purchase and sell real property only as provided in this chapter. As added by P.L.42-1993, SEC.72.

Sec. 2. (a) A savings bank may purchase, hold, and convey real property as follows: (1) As necessary for the convenient transaction of the savings bank's business as provided in IC 28-6.1-7-12. (2) Real property mortgaged to the savings bank in good faith for money loaned, or upo…