Title 28, FINANCIAL INSTITUTIONS

Sec. 9. (a) Except as is incidental to its conversion or to obtaining payment for shares of its capital stock, the bank or trust company may not exercise any new power, right, or authority conferred by its conversion, transact any business, or incur any indebtedness, until both o…

Sec. 1. As used in this chapter, "acquire" means directly or indirectly: (1) to merge or consolidate with; (2) to assume control of; or (3) to purchase all or substantially all of the assets of. As added by P.L.279-1987, SEC.9.

Sec. 11. As used in this chapter, "Indiana bank" means a bank that has its principal office in Indiana. As added by P.L.279-1987, SEC.9.

Sec. 12. As used in this chapter, "Indiana bank holding company" means a bank holding company that has its principal place of business in Indiana. As added by P.L.279-1987, SEC.9.

Sec. 13. As used in this chapter, "Indiana bank subsidiary" means an Indiana bank that is controlled by a bank holding company. As added by P.L.279-1987, SEC.9.

Sec. 14. For the purposes of this chapter, the "principal place of business" of a bank holding company is the state in which the total deposits of the bank subsidiaries of the bank holding company are the largest. As added by P.L.279-1987, SEC.9.

Sec. 15. Subject to the limitations of this chapter, a foreign bank holding company is entitled to acquire one (1) or more: (1) Indiana banks; (2) Indiana bank holding companies; or (3) foreign bank holding companies that have acquired one (1) or more Indiana banks; after approva…

Sec. 17. (a) If a foreign bank holding company desires to acquire an Indiana bank or Indiana bank holding company under this chapter, the foreign bank holding company must file an application for approval of the acquisition with the department on forms prescribed by the departmen…

Sec. 18. (a) At the time of the filing of an application with the department, the applicant may submit a written request asking the department to hold a hearing upon the fairness of the terms, conditions, and provisions of the proposed issuance and exchange of stock of the applic…

Sec. 19. If the department accepts an application for processing under section 17 of this chapter, the department shall issue an order approving or disapproving the acquisition. The department shall include its findings of fact in the order. If the department holds a hearing unde…

Sec. 2. (a) As used in this chapter, "bank" means a financial institution: (1) that has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia; and (2) that: (A) is an "insured bank" (as defined in Section 3(…

Sec. 20. (a) Except as expressly permitted by federal law, a bank holding company that is not: (1) an Indiana bank holding company; or (2) a foreign bank holding company; may not acquire an Indiana bank or Indiana bank holding company. (b) An Indiana bank holding company that cea…

Sec. 21. (a) An acquisition by a foreign bank holding company of control of an Indiana bank or Indiana bank holding company is exempt from the requirements of IC 28-1-2-23 if the acquisition is made under this chapter. (b) If a bank will be: (1) acquired by a foreign bank holding…

Sec. 22. Any person, company, bank, or bank holding company that may be or has been injured by reason of any conduct that constitutes or will constitute a violation of this chapter by any company or bank holding company may sue the company or bank holding company to enjoin the co…

Sec. 23. The department may enter into cooperative agreements and pay for necessary services with other financial institutions' regulatory agencies to facilitate the regulation of banks, corporate fiduciaries, and bank holding companies doing business in this state. The departmen…

Sec. 25. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.279-1987, SEC.9.

Sec. 3. (a) As used in this chapter, "bank holding company" means any company that controls one (1) or more banks. (b) For the purposes of this chapter: (1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the…

Sec. 4. As used in this chapter, "bank subsidiary" means a bank controlled by a bank holding company. As added by P.L.279-1987, SEC.9.

Sec. 5. As used in this chapter, "company" means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization that has been organized or reorganized under the laws of the United Sta…

Sec. 6. As used in this chapter, "control" means directly or indirectly: (1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company; (2) to control in any manner the election of a majority of the directors or trus…

Sec. 7. As used in this chapter, "department" refers to the department of financial institutions created under IC 28-11-1-1. As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.39.

Sec. 8. As used in this chapter, "deposits" has the meaning set forth in IC 28-2-14-8. As added by P.L.279-1987, SEC.9. Amended by P.L.33-1991, SEC.40.

Sec. 9. As used in this chapter, "foreign bank holding company" means a bank holding company that has its principal place of business in a state other than Indiana. As added by P.L.279-1987, SEC.9.

Sec. 1. As used in this chapter, "qualifying subsidiary" means a foreign or domestic corporation or limited liability company in which a financial institution has more than fifty percent (50%) ownership. As added by P.L.215-1999, SEC.10.

Sec. 2. As used in this chapter, "nonqualifying subsidiary" means a foreign or domestic corporation or limited liability company in which a financial institution has fifty percent (50%) or less ownership. As added by P.L.215-1999, SEC.10.

Sec. 3. As used in this chapter, "financial institution" means: (1) a bank (as defined by IC 28-1-1-3); (2) a savings bank; (3) a savings association; or (4) an industrial loan and investment company that maintains federal deposit insurance. As added by P.L.215-1999, SEC.10.…

Sec. 4. (a) A financial institution or any of its subsidiaries may acquire or establish a qualifying subsidiary by providing the department with written notice before acquiring or establishing the subsidiary. The department shall notify the requesting financial institution of the…

Sec. 5. A financial institution or any of its subsidiaries may acquire or establish a nonqualifying subsidiary by submitting an application to the department containing: (1) a complete description of the financial institution's investment in the subsidiary; (2) the activity to be…

Sec. 6. (a) The department shall review a financial institution's notice or application to acquire or establish a qualifying or nonqualifying subsidiary to determine: (1) whether the proposed activities are legally permissible; and (2) whether the proposal endangers the safety or…

Sec. 7. (a) Each qualifying subsidiary and nonqualifying subsidiary is subject to examination by the department or the appropriate federal banking supervisory authorities. (b) If, upon examination, the department determines that a qualifying subsidiary or a nonqualifying subsidia…

Sec. 8. The department may adopt rules under IC 4-22-2 or policies to implement this chapter. As added by P.L.215-1999, SEC.10.

Sec. 1. For purposes of this article, a savings association that is not a member of the Federal Reserve System is subject to Sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c or 371c-1) to the same extent and in the same manner as if the savings association were a m…

Sec. 2. A violation of Section 23A or 23B of the Federal Reserve Act (12 U.S.C. 371c or 371c-1) by a savings association or a subsidiary constitutes a violation of this chapter. As added by P.L.258-2003, SEC.31.

Sec. 1. This chapter applies only to the following: (1) A savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before July 1, 1993. (2) A mutual savings bank. (3) A stock savings bank. As added by P.L.42-1993, SEC.72. Amended by P.L.122-1994, SEC.99…

Sec. 2. (a) With the approval of the department, a savings bank may convert into a savings association. (b) Nothing in this title prohibits a savings bank organized under the laws of Indiana from converting to a savings association or a savings bank organized or reorganized under…

Sec. 3. The department shall prescribe the procedure for conversion under this chapter. The procedure must include the following conditions: (1) The conversion must be proposed by the board of the savings bank in a resolution of conversion. (2) The resolution of conversion must b…

Sec. 4. Upon conversion, the new savings association has all the rights, privileges, immunities, and powers and, except as provided in this chapter, is subject to all the duties, restrictions, penalties, and liabilities of a savings association organized under IC 28-4 (before its…

Sec. 1. It is the intent of this chapter to permit interstate branching by merger under Section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328) in accordance with the provisions set forth in this chapter. As added by P.L.171-1996, SEC…

Sec. 10. As used in this chapter, "home state" means the following: (1) With respect to a state bank, the state under the laws of which the bank is organized or reorganized. (2) With respect to a national bank, the state in which the main office of the bank is located. (3) With r…

Sec. 11. As used in this chapter, "home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is organized or reorganized. As added by P.L.171-1996, SEC.36.

Sec. 12. As used in this chapter, "host state" means a state, other than the home state of a bank, in which the bank: (1) maintains; or (2) seeks to establish and maintain; a branch. As added by P.L.171-1996, SEC.36.

Sec. 13. As used in this chapter, "Indiana bank" means a bank whose home state is Indiana. As added by P.L.171-1996, SEC.36.

Sec. 14. As used in this chapter, "Indiana state bank" means a bank organized or reorganized under the laws of Indiana. As added by P.L.171-1996, SEC.36.

Sec. 15. As used in this chapter, "interstate merger transaction" means: (1) the merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or (2) the purchas…

Sec. 16. As used in this chapter, "out-of-state bank" means a bank whose home state is a state other than Indiana. As added by P.L.171-1996, SEC.36.

Sec. 17. As used in this chapter, "out-of-state state bank" means a bank organized or reorganized under the laws of any state other than Indiana. As added by P.L.171-1996, SEC.36.