Title 28, FINANCIAL INSTITUTIONS

Sec. 3. (a) Before a proposed disposition described in section 1 of this chapter is submitted to a vote of the shareholders, the resolution proposing the disposition shall be submitted for the approval of the department. (b) Subject to section 5(d) of this chapter, and any approv…

Sec. 4. If a resolution proposing a disposition described in section 1 of this chapter is approved by the department, the resolution may then be submitted to the shareholders at the annual meeting or a special meeting. The resolution shall be authorized upon receiving the affirma…

inapplicability to credit unions, mutual savings banks, and mutual savings associations Sec. 5. (a) This section does not apply to a shareholder of a credit union that is the subject of a proposed transaction concerning the sale, lease, exchange, or other disposition of the credi…

Sec. 6. (a) Subject to the approval of the department, a corporation may purchase all or substantially all of the assets of one (1) or more other corporations that are organized or reorganized under the laws of any state (as defined in IC 28-2-17-19) or the United States. (b) Aft…

Sec. 1. A corporation may not transact any business or incur any indebtedness, except as is incidental to its organization or to obtaining subscriptions to or payment for shares of its capital stock, unless and until the following requirements are met: (1) The amount of capital o…

Sec. 2. If a corporation transacts any business in violation of section 1 of this chapter, the officers and directors of the corporation, upon learning of the action, are jointly and severally liable for the debts or liabilities of the corporation so incurred or arising from the …

Sec. 3. If a corporation organized under this title does not complete its organization and proceeds with the transaction of business within six (6) months after its articles of incorporation have been approved and filed, the approval is revoked and the articles of incorporation a…

Sec. 1. For purposes of this chapter, "shareholder" includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the owner's behalf. As added by P.L.14-1992, SEC.163.

Sec. 2. (a) A person may not commence a proceeding in the right of a corporation unless the person was a shareholder of the corporation when the transaction complained of occurred or unless the person became a shareholder through transfer by operation of law from one who was a sh…

Sec. 3. (a) A complaint in a proceeding brought in the right of a corporation must be verified and must allege with particularity: (1) the demand made, if any, to obtain action by the board of directors; and (2) either that the demand was refused or ignored, or why the shareholde…

Sec. 4. (a) A proceeding commenced under this chapter may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation's shareholders or a class of share…

Sec. 5. (a) Unless prohibited by the articles of incorporation, the board of directors may establish a committee consisting of at least three (3) disinterested directors or other disinterested persons to determine: (1) whether the corporation has a legal or equitable right or rem…

Sec. 1. The department may adopt rules under IC 4-22-2 or policies to administer this article. As added by P.L.262-1995, SEC.90.

Sec. 1. A savings association may make, buy, sell, or hold interests in the following loans: (1) Mobile home loans. (2) Real estate mortgage loans on real property or leasehold improvements insured or guaranteed by any state of the United States, the United States government, or …

Sec. 2. (a) Subject to such additional limitations as the department may prescribe, savings associations may make loans on the security of any of the following: (1) Real estate. (2) A leasehold or subleasehold interests. (3) An assignment or transfer of stock certificates or othe…

Sec. 1. A savings bank may invest the money in the savings bank only as provided in this article. As added by P.L.42-1993, SEC.72.

Sec. 10. A savings bank may deposit its funds in: (1) a federally chartered savings association; or (2) a savings association or other entity organized and operated according to federal law or the laws of a state or the District of Columbia; the accounts of which are insured by t…

Sec. 2. A savings bank may make, arrange, purchase, or sell loans or extensions of credit secured by liens on interests in real estate as provided in IC 28-1-13-7.1. As added by P.L.42-1993, SEC.72.

Sec. 3. (a) Subject to rules of the department, a savings bank may do the following: (1) Make loans and advances of credit and purchases of obligations representing loans and advances of credit eligible for insurance by the federal housing administrator, and to obtain such insura…

Sec. 4. (a) A savings bank may do the following: (1) Lend the money deposited in the savings bank upon: (A) individual credit; (B) the security of comakers or personal endorsement; (C) the mortgage or pledge of personal property, either tangible or intangible; or (D) the pledge o…

Sec. 5. A savings bank may invest in real estate subject to IC 28-6.1-7-12. As added by P.L.42-1993, SEC.72.

Sec. 6. (a) Subject to subsection (b), a savings bank may invest in dealing in exchange by purchasing and selling sight or time drafts and acceptances payable out of Indiana. (b) A draft or an acceptance may not: (1) exceed ten thousand dollars ($10,000); or (2) have to exceed on…

Sec. 7. A savings bank may do any of the following to become a member of the Federal Reserve System and exercise all powers, not in conflict with Indiana law, conferred on a member of the Federal Reserve Act: (1) Purchase and hold, for the purpose of becoming a member of the Fede…

Sec. 8. Subject to any limitations imposed by the department through policy, a savings bank may do any of the following: (1) Invest the money deposited in the savings bank in the shares of the capital stock, bonds, debentures, notes, or other obligations of a federal home loan ba…

Sec. 9. A savings bank may invest the money deposited in the savings bank in and sell shares of open-end investment companies, the portfolios of which consist solely of securities eligible for purchase and sale by national banking associations, on terms and conditions prescribed …