Title 28, FINANCIAL INSTITUTIONS

Sec. 31. The department may, in its discretion, accept any examination of any financial institution made by federal authority in lieu of the examination made under the provisions of this article. Formerly: Acts 1933, c.40, s.33. As amended by P.L.263-1985, SEC.9.

Sec. 36. It is a Class A misdemeanor for a person to knowingly solicit from any officer or employee of the department any money or other property for political assessments or contributions. Formerly: Acts 1933, c.40, s.38. As amended by Acts 1978, P.L.2, SEC.2806.

Sec. 40. (a) As used in this section, "act" refers to the federal Credit Card Accountability Responsibility and Disclosure Act of 2009 as it applies to Indiana borrowers. (b) If the department receives credible evidence from any source that a financial institution that issues to …

Sec. 6. Every financial institution to which this article is applicable shall conduct and transact its business in a safe and prudent manner; shall maintain such institution in a safe and solvent condition; and shall establish and maintain safe and sound methods for the conduct o…

Sec. 6.5. (a) A financial institution (as defined in IC 28-1-1-3(1)), except for a licensee under IC 37-1, IC 37-2, or 750 IAC 9, shall comply with the following: (1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.). (2) The USA Patriot Act of 2001 (P.L. 107-56). (3) Any regulations…

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…

Sec. 1. (a) Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, any bank or trust company may convert into or merge or consolidate with a national banking association. Nothing contained in this chapter or in any other law of this state shall be construed to require …

Sec. 10. (a) A savings bank may request that the department order the savings bank to merge, consolidate, or otherwise join with an acquiring institution that is a national banking association. (b) A savings bank may make a request under subsection (a) only if its board of truste…

Sec. 2. The plan of conversion, merger, or consolidation shall be approved by the board of directors of the bank or trust company and shall be approved by the board of directors of the national banking association. In cases where a national banking association proposes to convert…

Sec. 3. The board of directors of the bank or trust company and the board of directors of the national banking association shall each give notice of the time, place, and object of the shareholders' meeting, to act upon the plan of conversion, merger, or consolidation, to each of …

Sec. 4. Whenever any bank or trust company shall have merged or consolidated with a national banking association, such bank or trust company shall thereupon cease to be a corporation under the laws of this state, except that for a term of three (3) years thereafter its corporate …

Sec. 5. The merger or consolidation of a bank or trust company with, or the conversion of a bank or trust company into a national banking association shall not release such bank or trust company from its obligation to pay and discharge all of the liabilities created by law or inc…

Sec. 6. At the time when the merger or consolidation of a bank or trust company with or the conversion of a bank or trust company into a national banking association, or under such charter as may be issued thereafter, becomes effective, all of the property of such bank or trust c…

Sec. 7. If any bank or trust company is acting as the administrator, coadministrator, executor, coexecutor, trustee or cotrustee of or in respect to any estate or trust or guardian of any person or estate which is being administered under the laws of this state, or has been named…

Sec. 8. Nothing done in connection with the merger or consolidation of any bank or trust company with, or the conversion of any bank or trust company into a national banking association shall be deemed to be or to effect a renunciation or revocation of any letters of administrati…

Sec. 9. As used in this chapter: (1) the term "bank or trust company" means any bank or trust company organized under the provisions of any statute of this state; and (2) the term "national banking association" means any national bank organized under the laws of the United States…

Sec. 2. If any certificate holder of any industrial loan and investment company shall die, leaving unpledged certificates in such company and no executor of the will or administrator of the estate has been appointed, such company, may, in its discretion, pay the value of such cer…

Sec. 3. Payment of the certificates as provided in sections 1 and 2 of this chapter shall be subject to the provisions set forth in IC 28-5-1-12. Formerly: Acts 1953, c.61, s.3. As amended by P.L.263-1985, SEC.157.

Sec. 1. The definitions in this chapter apply throughout this article. As added by P.L.258-1989, SEC.2.

Sec. 2. "Adverse claim" includes the following: (1) A claim to a deposit account that is adverse to the rights or interest of any depositor of the deposit account. (2) A claim to a deposit account that is made in the name of a person other than a person who is named as a deposito…

Sec. 3. "Adverse claimant" means a person asserting an adverse claim. As added by P.L.258-1989, SEC.2.

Sec. 4. "Depositor" means a person who, according to records maintained by the depository financial institution, has an interest in a deposit account, either individually or jointly with another person. As added by P.L.258-1989, SEC.2.

Sec. 5. "Deposit account" means an account made by a depositor, either individually or jointly with another person, with a depository financial institution. The term includes the following accounts: (1) Share. (2) Share draft. (3) Share certificate. (4) Draft. (5) Certificate of …

Sec. 6. "Depository financial institution" means a financial institution that is organized or reorganized under Indiana law, the law of another state, or United States law. The term includes: (1) a commercial bank; (2) a trust company; (3) a credit union; (4) a savings bank; (5) …

Sec. 7. "Person" has the meaning set forth in IC 3-5-2.1-77. As added by P.L.258-1989, SEC.2. Amended by P.L.186-2025, SEC.149.

Sec. 8. "Working day" means that part of any day on which a depository financial institution is open to the public for carrying on substantially all of its functions. As added by P.L.258-1989, SEC.2.

Sec. 1. Notwithstanding IC 26-1 or any other Indiana law, this chapter applies to any contract, security, or instrument, including contracts involving commercial transactions. If there is a conflict between a provision in this chapter and another provision of the Indiana Code, th…

Sec. 10. (a) As used in this chapter, "LIBOR discontinuance event" means the earliest to occur of any of the following: (1) A public statement or publication of information that: (A) is made by, or on behalf of, the administrator of LIBOR; (B) announces that the administrator has…

Sec. 11. (a) As used in this chapter, "LIBOR replacement date" means the following: (1) In the case of a LIBOR discontinuance event described in section 10(a)(1) or 10(a)(2) of this chapter, the later of: (A) the date of the public statement or publication of information describe…

Sec. 12. As used in this chapter, "recommended benchmark replacement", with respect to a particular type of contract, security, or instrument, means a benchmark replacement based on SOFR, including any recommended spread adjustment and any benchmark replacement conforming changes…

Sec. 13. As used in this chapter, "recommended spread adjustment" means a spread adjustment, or method for calculating or determining the spread adjustment, that: (1) is selected or recommended by a relevant recommending body for: (A) a recommended benchmark replacement; (B) a pa…

Sec. 14. As used in this chapter, "relevant recommending body" means: (1) the Federal Reserve Board or any successor; (2) the Federal Reserve Bank of New York or any successor; or (3) the Alternative Reference Rates Committee or any successor. As added by P.L.67-2022, SEC.1.…

Sec. 15. As used in this chapter, "secured overnight financing rate", or "SOFR", with respect to any day, means the secured overnight financing rate published for the day by the Federal Reserve Bank of New York, as the administrator of the benchmark, or by any successor administr…

Sec. 16. As used in this chapter, "SOFR administrator's Internet web site" means the Internet web site of the Federal Reserve Bank of New York, or of any successor source for the secured overnight financing rate, that is identified as such by the administrator of SOFR from time t…

Sec. 17. (a) On the LIBOR replacement date, the recommended benchmark replacement, by operation of law, becomes the benchmark replacement for any contract, security, or instrument that uses LIBOR as a benchmark and that either: (1) contains no fallback provisions; or (2) contains…

Sec. 18. (a) This section applies to any contract, security, or instrument that uses LIBOR as a benchmark and that contains fallback provisions that permit or require the selection of a benchmark replacement that: (1) is based in any way on any LIBOR value; or (2) is: (A) a comme…

Sec. 19. If a recommended benchmark replacement becomes the benchmark replacement for any contract, security, or instrument under this chapter, any benchmark replacement conforming changes that are applicable to the recommended benchmark replacement become an integral part of the…

Sec. 2. As used in this chapter, "benchmark" means an index of interest rates or dividend rates that is used, in whole or in part, as the basis of, or as a reference for, calculating or determining any valuation, payment, or other measurement under or with respect to a contract, …

Sec. 20. This chapter does not alter or impair any of the following: (1) Any written agreement by all requisite parties that, retrospectively or prospectively, a contract, security, or instrument is not subject to any provisions set forth in this chapter, regardless of whether th…

Sec. 21. The selection or use of a recommended benchmark replacement as a benchmark replacement under or with respect to a contract, security, or instrument by operation of this chapter constitutes: (1) a commercially reasonable replacement for and a commercially substantial equi…

Sec. 22. (a) This section applies if any of the following occur or take place as described in, or by operation of, this chapter: (1) A LIBOR discontinuance event. (2) A LIBOR replacement date. (3) The selection or use of a recommended benchmark replacement as a benchmark replacem…

Sec. 23. (a) A person is not liable for damages to any person, and is not subject to any claim or request for equitable relief, arising out of or related to: (1) the selection or use of a recommended benchmark replacement; or (2) the determination, implementation, or performance …

Sec. 24. Except as provided in sections 17 and 18 of this chapter, this chapter shall not be construed as creating any negative inference or negative presumption regarding the validity or enforceability of any of the following: (1) Any benchmark replacement that is not a recommen…

Sec. 25. The provisions of this chapter are severable as provided in IC 1-1-1-8(b). As added by P.L.67-2022, SEC.1.

Sec. 3. As used in this chapter, "benchmark replacement" means: (1) a benchmark; (2) an interest rate; or (3) a dividend rate; that may or may not be based in whole or in part on a prior setting of LIBOR, and that replaces LIBOR (or any interest rate or dividend rate based on LIB…

Sec. 4. As used in this chapter, "benchmark replacement conforming changes" means any technical, administrative, or operational changes, alterations, or modifications that: (1) are made to a contract, security, or instrument; (2) are associated with and reasonably necessary for t…