Title 28, FINANCIAL INSTITUTIONS

Sec. 3. Payment of certificates as provided in section 1 of this chapter shall be subject to the provisions set forth in IC 28-5-1-12. Formerly: Acts 1953, c.46, s.3. As amended by P.L.263-1985, SEC.158.

Sec. 1. Except upon the conditions specified in sections 3 and 4 of this chapter, notice to a depository financial institution of an adverse claim does not require the depository financial institution to: (1) recognize the adverse claim in any manner; or (2) place a hold on, or o…

Sec. 2. Except as provided in sections 3 and 4 of this chapter, and notwithstanding IC 34-25-3-3 or any other rule or doctrine of law that: (1) would cause a depository financial institution to be accountable to an adverse claimant for any portion of any deposit account; or (2) w…

Sec. 3. (a) This section applies to an adverse claimant who is not a money judgment creditor of a depositor. (b) A depository financial institution may not be held accountable to an adverse claimant for funds in a deposit account that are claimed by the adverse claimant unless th…

Sec. 4. (a) This section applies to an adverse claimant who is a money judgment creditor attempting to garnish a deposit account. (b) A depository financial institution may not be held accountable to an adverse claimant for funds in a deposit account that are claimed by the adver…

Sec. 5. (a) The information specified in section 4(b)(3)(B) through 4(b)(3)(C) of this chapter and the legend set forth in subsection (c) must be printed more conspicuously than the other information specified in section 4(b)(3) of this chapter. The information specified in secti…

Sec. 1. As used in this chapter, "corporation" means any: (1) bank; (2) trust company; (3) corporate fiduciary; (4) savings bank; (5) savings association; (6) industrial loan and investment company that maintains federal deposit insurance; (7) credit union; or (8) bank of discoun…

Sec. 2. Notwithstanding IC 24-4.9 or any other law, a corporation shall notify the director of the department of a reportable cyber incident or notification incident in accordance with the same procedures required by the corporation's federal supervisory authority or federal insu…

Sec. 1. (a) The department shall examine the affairs of every financial institution as often as the department considers necessary. Examinations may be made without notice to the institution to be examined. (b) In making an examination, the department may examine any of the offic…

Sec. 2. The department has visitorial powers with respect to any financial institution for the purpose of maintaining the safety and soundness of the financial institution. As added by P.L.33-1991, SEC.56.

Sec. 3. (a) The director or the director's designee may disclose or make available to a: (1) state, federal, or foreign law enforcement agency; (2) state, federal, or foreign financial institution supervisory agency; (3) state, federal, or foreign prosecutorial agency; (4) state,…

Sec. 4. A copy of a document, report, or other paper received and filed by the department, when certified by the director, shall be received in all courts and places as prima facie evidence of the facts stated in the certified copy. As added by P.L.33-1991, SEC.56.

Sec. 5. (a) As used in this section, "assets" means the assets of a financial institution as disclosed by a report made by the financial institution at the end of the year immediately preceding the fiscal year in which a fee is fixed under this section. (b) The department shall f…

Sec. 6. (a) As used in this section: (1) "federally chartered" means an entity organized or reorganized under the law of the United States; and (2) "state chartered" means an entity organized or reorganized under the law of Indiana or another state. (b) If the department determin…

Sec. 1. A corporation may not use as a part of its corporate name any word or phrase that indicates or implies any purpose or power not possessed by a corporation that may be organized under this chapter. As added by P.L.14-1992, SEC.162.

Sec. 2. The corporate name of the proposed corporation may not be the same as, or confusingly similar to, the name of any other corporation then existing under the laws of Indiana or authorized to transact business in Indiana. As added by P.L.14-1992, SEC.162.

Sec. 3. (a) If the proposed corporation is organized to transact business under IC 28-1-11, the corporate name must include the word "bank", "trust", "banc", "banco", or "bancorp". (b) If the proposed corporation is to be a corporate fiduciary, the corporate name of the corporati…

Sec. 4. Any corporation may, with the prior approval of the department, change its corporate name at any time by amending its articles of incorporation under IC 28-13-14. As added by P.L.14-1992, SEC.162.

Sec. 5. This chapter does not affect the right of any corporation that is, as of July 1, 1992, either existing under Indiana law or authorized to transact business in Indiana. As added by P.L.14-1992, SEC.162.

Sec. 1. The shareholders of a corporation do not have a preemptive right to acquire the corporation's unissued shares except to the extent the articles of incorporation so provide. As added by P.L.14-1992, SEC.163.

Sec. 2. (a) For purposes of sections 1 and 2 of this chapter, "shares" includes a security convertible into or carrying a right to subscribe for or acquire shares. (b) A statement included in the articles of incorporation that "the corporation elects to have preemptive rights" (o…

Sec. 3. (a) A corporation may acquire its own shares pursuant to an adopted resolution that is submitted to and approved by the director prior to such acquisition of shares. Unless a resolution of the board of directors or the corporation's articles of incorporation provide other…

Sec. 1. Subject to the limitations and restrictions set forth in this article and in the articles of incorporation, a corporate fiduciary possesses and may exercise the rights, privileges, and powers provided in this chapter. As added by P.L.262-1995, SEC.90.

Sec. 10. A corporate fiduciary has the power to act as fiscal or transfer agent of the United States or any state, municipality, body politic, or corporation, and may, in that capacity: (1) receive and disburse money; (2) transfer, register, and countersign certificates of stocks…

Sec. 11. (a) Notwithstanding any other provision of this title, a corporate fiduciary may act as an insurance producer for the sale of any annuity contract or any life insurance policy issued by a life insurance company (as defined in IC 27-1-2-3) authorized to do business in Ind…

Sec. 12. A corporate fiduciary may be appointed and act under the order of appointment of a court of competent jurisdiction as commissioner for the sale of real estate, guardian of the person and guardian of the estate of a person less than eighteen (18) years of age, and incapac…

Sec. 13. (a) A corporate fiduciary may: (1) be appointed; and (2) accept the appointment; to 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. (b) A corporate fiduciary may: (…

Sec. 14. (a) A corporate fiduciary may be appointed and may act under the order of appointment of any court of competent jurisdiction as: (1) guardian; (2) trustee; (3) executor; or (4) administrator, with or without the will annexed; on the application or consent of a person who…

Sec. 15. A corporate fiduciary has the power to: (1) 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 of the …

Sec. 16. (a) Except as otherwise provided in this chapter, a corporate fiduciary has the power: (1) to act: (A) in every fiduciary capacity permitted by this article; and (B) as commissioner for the sale of real estate, without bond or other security; and (2) to administer oaths …

Sec. 17. A corporate fiduciary shall not pledge or deposit any of its assets as a condition to the exercise of its powers as a fiduciary. As added by P.L.262-1995, SEC.90.

Sec. 18. (a) A corporate fiduciary has the power to: (1) receive, upon terms and conditions prescribed by the corporate fiduciary not inconsistent with the provisions of this section, upon deposit for safekeeping, or in escrow: (A) money; (B) bonds; (C) mortgages; (D) jewelry; (E…

Sec. 19. (a) A corporate fiduciary has the power to demand and receive, for the faithful performance and discharge of services performed under the powers vested in the corporate fiduciary by this article: (1) reasonable compensation, or compensation as fixed by agreement of the p…

Sec. 2. A corporate fiduciary is entitled to perpetual duration and succession of its corporate name. As added by P.L.262-1995, SEC.90.

Sec. 20. The compensation or commission paid or agreed to be paid for the negotiation of any loan or the execution of any trust by a corporate fiduciary is not interest within the meaning of any law of Indiana, and the excess of the compensation or commission over any rate of int…

Sec. 21. A court or an officer of a court having jurisdiction to: (1) grant letters of guardianship; (2) appoint a trustee, guardian, receiver, or committee of the estate of a person; (3) appoint a committee, trustee, or receiver in insolvency or bankruptcy proceedings, or in any…

Sec. 22. (a) Subject to IC 28-1-22, a corporate fiduciary, trust company, or bank that is organized and doing business under the laws of any state, territory, or district other than Indiana, including a national bank or national trust company that is primarily domiciled in any ot…

Sec. 23. For the purposes of IC 30-4-3-29, a corporate fiduciary may serve as a successor trustee in the same capacity as if the corporate fiduciary were a bank (as defined in IC 28-1-1-3). As added by P.L.262-1995, SEC.90.

Sec. 24. Notwithstanding any other law, a credit union or a group of credit unions may establish a credit union service organization that is a corporate fiduciary. As added by P.L.262-1995, SEC.90.

Sec. 25. For the purposes of IC 30-1-8, a corporate fiduciary has the same powers and authority as a bank. As added by P.L.262-1995, SEC.90.

Sec. 3. The articles of incorporation of a corporate fiduciary must, without limitation, grant the corporate fiduciary the powers described in sections 4 through 8 of this chapter and authorize the corporate fiduciary to do the following: (1) Sue and be sued in its corporate name…

Sec. 4. (a) A corporate fiduciary may: (1) lend money; and (2) receive and hold real and personal property as security for the repayment of loans; only as authorized in this section. (b) A corporate fiduciary may make a loan to a fiduciary account it administers and may take secu…

Sec. 5. (a) Notwithstanding any other law, a corporate fiduciary holding securities in a fiduciary capacity is authorized to deposit or arrange for the deposit of the securities in a clearing corporation. (b) When securities are deposited in a clearing corporation under subsectio…

Sec. 6. (a) Notwithstanding any other law, a corporate fiduciary holding United States government securities in a fiduciary capacity may use the Federal Reserve Book-Entry procedure for United States government securities. The records of the corporate fiduciary must at all times …

Sec. 7. (a) A corporate fiduciary may do the following: (1) Pay benefits, offer incentives, and establish benefit plans and incentive plans for an existing or a former director, officer, employee, and agent of the corporate fiduciary. (2) Adopt stock purchase programs for employe…

Sec. 8. (a) A corporate fiduciary may: (1) exercise any power through a subsidiary; and (2) purchase, own, and hold shares of stock of a subsidiary. (b) A subsidiary of a corporate fiduciary may not: (1) exercise a power that the corporate fiduciary could not exercise; or (2) eng…