Title 28, FINANCIAL INSTITUTIONS

Sec. 6. Upon the liquidation of any bank or trust company or corporate fiduciary while it is acting as guardian, trustee, receiver, administrator, executor, commissioner, or assignee for the benefit of creditors the person or persons beneficially entitled to receive property or p…

Sec. 7. A person who violates this chapter commits a Class B infraction. In addition, if the person is an officer of any bank or trust company, he is subject to removal from office in the manner prescribed in IC 28-11-4. Formerly: Acts 1933, c.40, s.194; Acts 1937, c.33, s.27. As…

Sec. 8. (a) Unless otherwise provided in an agreement or a trust, a bank or trust company that holds funds or property as a fiduciary may use the funds or property to purchase from the bank, the trust company, or an affiliate of the bank or trust company a product, service, or se…

Sec. 1. (a) The officers of a corporation must consist of the following: (1) A president and, if the president is not the highest acting officer of the corporation, another officer designated by the directors, regardless of the title of that officer, whose duties are equivalent t…

Sec. 2. Each officer has the authority and shall perform the duties set forth in the bylaws or, to the extent consistent with the bylaws, the duties prescribed by the board of directors or by direction of an officer authorized by the board of directors to prescribe the duties of …

Sec. 3. (a) An officer may resign at any time by delivering notice: (1) to the board of directors, its chairman, or the secretary of the corporation; or (2) if the articles of incorporation or bylaws so provide, to another designated officer. (b) A resignation is effective when t…

Sec. 4. (a) The election or appointment of an officer does not create contract rights. (b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with th…

Sec. 5. (a) Every corporation shall make provision for adequate fidelity coverage for all officers and employees having access to money or bonds of the corporation. The amount and form of fidelity coverage must be approved annually by the board of directors of the corporation. Co…

Sec. 1. (a) In a mutual savings association, each member is entitled at every members' meeting to cast one (1) vote for each: (1) one hundred dollars ($100); or (2) fraction of one hundred dollars ($100); of the total amount paid in on all share or deposit accounts standing in th…

Sec. 1. Except as otherwise provided in this chapter, the definitions in IC 28-2-13 apply throughout this chapter. As added by P.L.42-1993, SEC.72.

Sec. 2. (a) As used in this chapter, "bank" means a financial institution that is either of the following: (1) A bank that: (A) has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia; and (B) is an "insur…

Sec. 3. (a) Subject to this section, a savings 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 branch de novo may not be established under this section without the writte…

Sec. 4. A branch by acquisition under this chapter involving one (1) or more savings banks formed after December 31, 1992, may be established under section 3 of this chapter by complying with IC 28-1-7 or IC 28-1-8 as if the savings bank (were a bank as defined in IC 28-1-1-3). A…

Sec. 5. (a) A savings 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 individ…

Sec. 6. A person who fails to comply with this chapter commits a Class A infraction. As added by P.L.42-1993, SEC.72.

Sec. 7. (a) A 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 a savings bank may sue the savings bank to enjoin the conduct or for damages, together with the…

Sec. 8. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.42-1993, SEC.72.