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Indiana Statutes, Title 28

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Title 28, FINANCIAL INSTITUTIONS

149 chapters · 1,498 sections in this title.

All chapters in Title 281,498 Ch 1, Definitions and Application of Article178 Ch 5, Banks, Trust Companies, and Building…137 Ch 2, Powers and Duties of the Department104 Ch 6, Effective Date of Incorporation80 Ch 3, Reporting of Reportable Cyber Incidents75 Ch 7, Merger and Consolidation of Banks, T…71 Ch 13, Loans and Investments of Banks and T…61 Ch 4.1, Money Transmission Modernization Act53 Ch 11, Powers of Banks and Trust Companies51 Ch 9, Voluntary Dissolution of Banks, Trus…47 Ch 14, Amendment of Articles of Incorporation47 Ch 18, Interstate Bank Branching44 Ch 4, Enforcement Powers of the Department43 Ch 10, Emergency Bylaws40

9 sections·Filtered byTitle 28✕Ch 2.5✕

Ind. Code § 28-7-2.5-1 Application of chapter
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Sec. 1. This chapter applies to a credit union (as defined in IC 28-7-1-0.5(3)). As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.
Ind. Code § 28-7-2.5-2 Application of definitions
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Sec. 2. Except as otherwise provided, the definitions in IC 28-7-1 apply throughout this chapter. As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.
Ind. Code § 28-7-2.5-3 Appointment of conservator; bond or security; eligible conservators
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Sec. 3. (a) The department may appoint a conservator for a credit union if the department determines that: (1) one (1) or more grounds for the appointment of a receiver under IC 28-1-3.1-2(a) exist with respect to the credit union; or (2) the appointment of a conservator is neces…
Ind. Code § 28-7-2.5-4 Reimbursement of department; administrative expenses
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Sec. 4. (a) A conservator appointed by the department under this chapter shall reimburse the department for all amounts expended by the department in connection with the conservatorship. Amounts reimbursed to the department under this subsection shall be paid from the assets of t…

Ind. Code § 28-7-2.5-5 Possession of books, records, and assets; conservation of assets; powers and obligations of conservator; rights of parties

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Sec. 5. (a) Under the direction of the department, a conservator appointed under this chapter shall: (1) take possession of the books, records, and assets of the credit union; and (2) take any action necessary to conserve the assets of the credit union pending: (A) a liquidation …

Ind. Code § 28-7-2.5-6 Amounts available to members, depositors, and creditors; new shares, deposits, and assets; return of control to board

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Sec. 6. (a) While a credit union is in conservatorship under this chapter, the department may require the conservator to set aside and make available for: (1) withdrawal by members and depositors; or (2) payment to other creditors; on a pro rata basis, any amounts that, in the op…

Ind. Code § 28-7-2.5-7 Loans in aid of operation or reorganization; security

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Sec. 7. With the prior approval of the department, a conservator appointed under this chapter may borrow money as necessary or expedient to aid in the operation or reorganization of the credit union. Any loan obtained by the conservator under this section may be secured by the pl…

Ind. Code § 28-7-2.5-8 Termination of conservatorship; appointment of receiver; liquidation

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Sec. 8. (a) The department may: (1) terminate a conservatorship ordered under this chapter; and (2) permit the credit union subject to the conservatorship to resume the transaction of the credit union's business, subject to any terms, conditions, restrictions, and limitations tha…

Ind. Code § 28-7-2.5-9 Adoption of rules

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Sec. 9. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.