Title 28, FINANCIAL INSTITUTIONS

Sec. 21. If the conditions and filing requirements of this chapter are met: (1) one (1) or more Indiana banks may enter into an interstate merger transaction with one (1) or more out-of-state banks under this chapter; and (2) an out-of-state bank resulting from a transaction refe…

Sec. 22. An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving an Indiana state bank shall: (1) notify the department of the proposed merger; and (2) provide satisfactory evidence to the department of compliance with applicabl…

Sec. 23. (a) An out-of-state state bank that establishes and maintains one (1) or more branches in Indiana under this chapter may conduct at the branch or branches only those activities that are expressly authorized under the laws of Indiana for Indiana state banks. (b) An Indian…

Sec. 24. (a) To the extent consistent with subsection (b), the department may make the examinations of any branch established and maintained in Indiana pursuant to this chapter by an out-of-state state bank as the department may consider necessary to determine whether the branch …

Sec. 25. (a) If the department determines that a branch maintained by an out-of-state state bank in Indiana is being operated: (1) in violation of any provision of Indiana law relating to activities of a bank; or (2) in an unsafe and unsound manner; the department may take all en…

Sec. 26. The department may adopt policies or adopt rules under IC 4-22-2 it determines necessary or appropriate to implement this chapter. As added by P.L.171-1996, SEC.36.

Sec. 27. Each out-of-state state bank that establishes and maintains a branch in Indiana pursuant to this chapter, or the home state regulator of such bank, shall give at least thirty (30) days prior written notice, or shorter notice as is consistent with applicable state or fede…

Sec. 28. The provisions of this chapter are severable in the manner provided in IC 1-1-1-8(b). If: (1) any provision of this chapter; or (2) the application of any provision of this chapter; is found by any court with jurisdiction in the United States to be invalid as to any bank…

Sec. 29. (a) Pursuant to 12 U.S.C. 1831u(b)2(D), the statewide concentration limitation as provided for in 12 U.S.C. 1831u(b)2(B) may be waived by order of the department for a particular interstate merger transaction for good cause shown. (b) When determining good cause for the …

Sec. 3. (a) Except as provided in subsection (b), as used in this chapter, "bank" has the meaning set forth in 12 U.S.C. 1813(h). (b) Except as provided in subsection (c), the term "bank" does not include any foreign bank (as defined in 12 U.S.C. 3101(7)). (c) The term "bank" inc…

Sec. 4. As used in this chapter, "bank holding company" has the meaning set forth in 12 U.S.C. 1841(a)(1). As added by P.L.171-1996, SEC.36.

Sec. 5. As used in this chapter, "bank supervisory agency" means: (1) any agency of another state with primary responsibility for organizing and supervising banks; and (2) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Gover…

Sec. 6. As used in this chapter, "branch" has the meaning set forth in IC 28-2-13-7. As added by P.L.171-1996, SEC.36.

Sec. 7. As used in this chapter, "control" shall be construed consistently with the provisions of 12 U.S.C. 1841(a)(2). As added by P.L.171-1996, SEC.36.

Sec. 8. As used in this chapter, "department" refers to the department of financial institutions. As added by P.L.171-1996, SEC.36.

Sec. 9. As used in this chapter, "director" refers to the director of the department. As added by P.L.171-1996, SEC.36.

Sec. 1. As used in this chapter "financial institution" has the meaning set forth in IC 28-13-16-3. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.

Sec. 2. As used in this chapter, "financial subsidiary" means a foreign or domestic corporation or limited liability company that is controlled by one (1) or more financial institutions that engages in a financial subsidiary activity. As added by P.L.63-2001, SEC.28 and P.L.134-2…

Sec. 3. As used in this chapter, "financial subsidiary activity" means: (1) an activity that has been authorized for a financial subsidiary of a national bank under 12 U.S.C. 24a and that may be conducted by a national bank only through a financial subsidiary; or (2) an activity …

Sec. 4. As used in this chapter, "control" has the meaning set forth in IC 28-2-13-12. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.

Sec. 5. As used in this chapter, "hold an interest" means the ownership of any equity capital of a financial subsidiary. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.

Sec. 6. As used in this chapter, "equity capital" includes, in addition to an equity investment, a debt instrument issued by a financial subsidiary, if the instrument qualifies as capital of the financial subsidiary under any federal or state law, regulation, or interpretation ap…

Sec. 7. (a) Notwithstanding any other law, but subject to the provisions of this chapter, a financial institution may control or hold an interest in a financial subsidiary that engages in financial subsidiary activities. (b) This section does not require an activity to be conduct…

Sec. 8. (a) A financial institution may not establish, control, or hold an interest of a financial subsidiary that engages in financial subsidiary activities as principal or commence any new financial subsidiary activity under this section or under 12 U.S.C. 1831w(a) unless the f…

Sec. 1. The department may take possession of the business and property of a savings bank if any of the following occur: (1) The savings bank fails for thirty (30) days to pay any of its depositors as required by law. (2) The department determines that the board or officers of th…

Sec. 2. IC 28-1-3.1 governs the following: (1) The authority and the procedures under which the department administers the liquidation of a savings bank under this chapter. (2) The respective rights, powers, privileges, duties, and liabilities of the department, the savings bank,…

Sec. 1. It is the intent of this chapter to permit interstate branching under Sections 102 and 103 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, "de novo branch" means a branch of a bank located in a host state that: (1) is originally established by the bank as a branch; and (2) does not become a branch of the bank as a result of: (A) the acquisition of another bank or a branch of another…

Sec. 11. As used in this chapter, "director" refers to the director of the department. As added by P.L.171-1996, SEC.37.

Sec. 12. 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. 13. 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 such bank is organized or reorganized. As added by P.L.171-1996, SEC.37.

Sec. 14. 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.37.

Sec. 15. 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.37.

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.37.

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.37.

Sec. 18. As used in this chapter, "state" means any of the following: (1) Any state of the United States. (2) The District of Columbia. (3) Puerto Rico. (4) Guam. (5) American Samoa. (6) The Trust Territory of the Pacific Islands. (7) The Virgin Islands. (8) The Northern Mariana …

Sec. 19. (a) With the prior written approval of the department, any Indiana state bank may establish and maintain a de novo branch or acquire a branch in a state other than Indiana. (b) An Indiana state bank that desires to: (1) establish one (1) or more de novo branches; or (2) …

Sec. 2. The definitions set forth in sections 3 through 18 of this chapter apply throughout this chapter, unless a different meaning is required by the context. As added by P.L.171-1996, SEC.37.

Sec. 20. An out-of-state bank that meets the requirements of this chapter may establish and maintain a de novo branch in Indiana. As added by P.L.171-1996, SEC.37.

Sec. 21. An out-of-state bank that meets the requirements of this chapter may establish and maintain a branch in Indiana through the acquisition of a branch. As added by P.L.171-1996, SEC.37.

Sec. 22. An out-of-state bank that desires to: (1) establish and maintain a de novo branch; or (2) acquire a branch in Indiana pursuant to this chapter; shall provide written notice of the proposed transaction to the department not later than the date on which the bank applies to…

Sec. 23. A branch of an out-of-state bank may not be established in Indiana under this chapter unless the out-of-state bank: (1) confirms in writing to the department that it will comply with all applicable laws of Indiana as long as it maintains a branch in Indiana; and (2) prov…

Sec. 24. (a) An out-of-state state bank that establishes and maintains one (1) or more branches in Indiana under this chapter may conduct at the branch or branches only those activities that are expressly authorized under the laws of Indiana for Indiana state banks. (b) An Indian…

Sec. 25. (a) To the extent consistent with subsection (b), the department may make examinations of any branch established and maintained in Indiana pursuant to this chapter by an out-of-state state bank as the department may consider necessary to determine whether the branch is b…

Sec. 26. (a) If the department determines that a branch maintained by an out-of-state state bank in Indiana is being operated: (1) in violation of any provision of Indiana law relating to activities of a bank; or (2) in an unsafe and unsound manner; the department may take all en…

Sec. 27. The department may adopt policies or adopt rules under IC 4-22-2 it determines necessary or appropriate to implement this chapter. As added by P.L.171-1996, SEC.37.