Title 28, FINANCIAL INSTITUTIONS

Sec. 12. (a) A savings bank may purchase, hold, and convey real estate that is necessary for the convenient transaction of the business of the savings bank. (b) For the purposes of this section, real estate purchased or held for the convenient transaction of the business of a sav…

Sec. 13. A savings bank may not pay: (1) interest contracted for with a depositor; or (2) other expenses incurred in operating the business of the savings bank; except from current earnings or undivided profits without the approval of the department. As added by P.L.42-1993, SEC.…

Sec. 2. (a) A savings bank may make loans and advances of credit and purchases of obligations representing loans and advances of credit that are eligible for insurance by the federal housing administrator and to obtain such insurance. (b) An Indiana law: (1) prescribing the natur…

Sec. 3. (a) A savings bank may make loans secured by mortgages on real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, and to obtain such insurance. (b) An Indiana law: (1) prescribing the nature, amount, or form of security; (…

Sec. 4. (a) A savings bank may purchase, invest in, and dispose of any of the following: (1) Notes or bonds secured by mortgage or trust deed insured by the federal housing administrator. (2) Debentures issued by the federal housing administrator. (3) Bonds or other securities is…

Sec. 5. (a) A savings bank may extend credit to any state agency, with the approval of the department, notwithstanding any other provisions or limitations of IC 28-1. (b) An Indiana law: (1) prescribing the nature, amount, or form of security; (2) requiring security upon which lo…

Sec. 6. (a) A savings bank may purchase, take, hold, and dispose of notes and mortgages securing the notes, made to any incorporated joint stock land bank if not less than ninety-nine percent (99%) of the stock of the joint stock land bank is owned by the savings bank at the time…

Sec. 7. Subject to any restrictions the department may impose, a savings bank may: (1) become the owner or lessor of personal or real property upon the request of and for the use of a customer; and (2) incur additional obligations incident to becoming an owner or a lessor of the …

Sec. 8. (a) A savings bank may purchase or construct buildings and hold legal title to a building to be leased to a municipal corporation or other public authority, for public purposes, having resources sufficient to make payment of all rentals as the payments become due. (b) A l…

Sec. 9. (a) Subject to the prior written approval of the department, a savings bank may purchase, hold, and convey real property that is: (1) improved or to be improved by a single, freestanding building; and (2) to be used, in part, as a branch of the savings bank and, in part, …

Sec. 1. A mutual holding company may convert from mutual to stock form in accordance with a plan of conversion approved by the department under procedures substantially the same as for the conversion of a mutual savings bank contained in IC 28-1-21.9. As added by P.L.122-1994, SE…

Sec. 2. (a) The department may file a petition with the federal bankruptcy court requesting the liquidation of a mutual holding company under 12 U.S.C. 1467(a)(o)(9) and Title 11, United States Code, upon: (1) the default of the resulting savings bank, any acquiree savings bank, …

Sec. 3. IC 28-11-3 applies to a mutual holding company in the same manner it applies to a savings bank. As added by P.L.122-1994, SEC.101.

Sec. 4. Solicitations of proxies by any person in connection with any membership vote required under this chapter must be accompanied by proxy materials in a form appropriate to, and containing the information relevant to, the action that members are being asked to approve. As ad…

Sec. 5. Whenever a mutual savings bank or mutual holding company is required by this chapter to obtain membership approval for a transaction, the savings bank or mutual holding company may use any existing proxy conferring general authority to vote on any and all matters at any m…

Sec. 6. A mutual holding company organized under the laws of the United States may convert to a mutual holding company organized under this article in accordance with a plan of conversion approved by the department that is substantially the same as a plan of a mutual bank convers…

Sec. 7. The department may adopt rules under IC 4-22-2 or adopt policies necessary to implement this chapter. As added by P.L.122-1994, SEC.101.