Title 28, FINANCIAL INSTITUTIONS

Sec. 13. An acquisition by a holding company of control of a bank, trust company, corporate fiduciary, or stock savings bank is exempt from the requirements of IC 28-1-2-23 if the acquisition is made under this chapter. As added by P.L.238-1983, SEC.10. Amended by P.L.122-1994, S…

Sec. 14. This chapter does not prohibit the acquisition by a holding company of shares of stock of a bank, trust company, corporate fiduciary, or stock savings bank under any other procedure that may be authorized by law, under voluntary exchange, or under an agreement with share…

Sec. 15. This chapter does not affect the limitations imposed on bank holding companies by IC 28-2-14. As added by P.L.238-1983, SEC.10. Amended by P.L.19-1986, SEC.48.

Sec. 2. All the outstanding shares of common stock of any bank, trust company, corporate fiduciary, or stock savings bank may be acquired by any corporation organized under IC 23-1 if the acquisition is made under a plan of exchange approved in the manner provided in this chapter…

for submission to vote of shareholders Sec. 3. (a) A bank, trust company, corporate fiduciary, or stock savings bank and a holding company that desire to effect an exchange of securities must, by resolutions adopted by the board of directors of each corporation, approve a plan of…

Sec. 4. (a) The bank, trust company, corporate fiduciary, or stock savings bank and the holding company shall file with the department three (3) copies of the plan of exchange certified by an officer of each as having been approved in accordance with section 3 of this chapter. Th…

Sec. 5. (a) At the time of the filing of a plan of exchange with the department, the bank, trust company, corporate fiduciary, or stock savings bank may submit a written request asking the department to hold a hearing on the matter. If such a request is submitted, the department …

Sec. 6. (a) The department shall issue an order approving the plan of exchange as delivered to it by the bank, trust company, corporate fiduciary, or stock savings bank and the holding company, including any modifications to the plan as the board of directors of each corporation …

Sec. 7. (a) If a plan of exchange is approved by the department, the plan shall be submitted to a vote of the shareholders of the bank, trust company, corporate fiduciary, or stock savings bank and, if the articles of incorporation of the holding company are to be amended in the …

Sec. 8. (a) If a shareholder votes in opposition to a plan of exchange at the meeting at which the plan is adopted by the shareholders, the shareholder may, within thirty (30) days after the date of the meeting, make written objection to the exchange and demand that the bank, tru…

Sec. 9. (a) After the plan of exchange is approved by shareholders of the bank, trust company, corporate fiduciary, or stock savings bank and, if required, by the shareholders of the holding company, and unless the plan of exchange is subsequently abandoned, the bank, trust compa…

Sec. 1. This chapter applies to a corporate fiduciary (as defined in IC 28-1-1-3(19)). As added by P.L.10-2006, SEC.78 and P.L.57-2006, SEC.78.

Sec. 2. Except as otherwise provided, the definitions in IC 28-14-1 apply throughout this chapter. As added by P.L.10-2006, SEC.78 and P.L.57-2006, SEC.78.

Sec. 3. (a) The department may appoint a conservator for a corporate fiduciary 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 corporate fiduciary; or (2) the appointment of a conser…

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…

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 corporate fiduciary; and (2) take any action necessary to conserve the assets of the corporate fiduciary pending: (A) …

Sec. 6. (a) While a corporate fiduciary is in conservatorship under this chapter, the department may require the conservator to set aside and make available for payment to any persons described in section 3(a)(2) of this chapter, on a pro rata basis, any amounts that, in the opin…

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 corporate fiduciary. Any loan obtained by the conservator under this section may be secured by…

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

Sec. 9. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.10-2006, SEC.78 and P.L.57-2006, SEC.78.