Title 28, FINANCIAL INSTITUTIONS

Sec. 5. 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.37.

Sec. 6. As used in this chapter, "bank supervisory agency" means any of the following: (1) Any agency of another state with primary responsibility for organizing and supervising banks. (2) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, t…

Sec. 7. 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.37.

Sec. 8. 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.37.

Sec. 9. As used in this chapter, "department" refers to the department of financial institutions. As added by P.L.171-1996, SEC.37.

Sec. 1. This chapter applies only to a savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before January 1, 1993. As added by P.L.42-1993, SEC.72.

Sec. 10. If after hearing the matter, the court determines that it will be in the best interests of the depositors and other creditors of the savings bank to liquidate its affairs and dissolve, the liquidation may proceed. As added by P.L.42-1993, SEC.72.

Sec. 11. The decision of the court under section 9 or 10 of this chapter is final. As added by P.L.42-1993, SEC.72.

Sec. 12. (a) During the ten (10) day period after the publication required by section 7 of this chapter, the department may make orders regarding the deposits of the savings bank that the department considers in the best interests of all the depositors and creditors of the saving…

Sec. 13. (a) When the costs and expenses of the liquidation have been fully paid and all the remaining debts and liabilities of the savings bank, including deposits and accrued interest or dividends, if any, have been paid in full, the remaining assets, if any, shall be paid to o…

Sec. 14. (a) Upon completion of the liquidation, the department shall prepare and file a statement of dissolution in the office of the recorder of the county in which the savings bank was located. (b) The statement of dissolution shall contain the following: (1) The name of the s…

Sec. 15. When the statement required by section 14 of this chapter is recorded, the savings bank ceases to exist. As added by P.L.42-1993, SEC.72.

Sec. 2. A savings bank may dissolve itself under this chapter if the board of the savings bank determines it is in the best interest of the depositors and other creditors of the savings bank to dissolve the savings bank. As added by P.L.42-1993, SEC.72.

Sec. 3. (a) To dissolve a savings bank, the board must adopt a resolution of dissolution at a regular meeting or a special meeting of the board called for that purpose. (b) A resolution of dissolution must receive the affirmative vote of at least two-thirds (2/3) of the qualified…

Sec. 4. (a) If the department receives a statement under section 3 of this chapter, the department shall examine the business and affairs of the savings bank and may make additional investigation of the future prospects of the savings bank the department considers necessary. (b) …

Sec. 5. (a) Not later than five (5) days after entry of the order directing the liquidation of the savings bank, the department shall file a copy of the order with the circuit court clerk of the county in which the savings bank is located. (b) Upon the filing of an order under su…

Sec. 6. After the filing of the action under section 5 of this chapter, the court has jurisdiction to hear and determine all issues and matters relating to the liquidation of the savings bank. As added by P.L.42-1993, SEC.72.

Sec. 7. The department shall do the following: (1) Immediately take charge of the business and assets of the savings bank. (2) Give notice of: (A) the department's orders directing the liquidation and dissolution of the savings bank; and (B) the appointment of the department's sp…

Sec. 8. (a) A depositor or other creditor of the savings bank who is aggrieved by the proceedings to liquidate and dissolve the savings bank may oppose the liquidation and dissolution by a petition filed in the court in which the liquidation action was filed under section 5 of th…

Sec. 9. (a) If after hearing the matter, the court determines that it will not be in the best interest of the depositors and other creditors of the savings bank that the savings bank liquidate its affairs and dissolve, the court shall enter an order: (1) directing the department …

Sec. 1. This chapter applies only to a savings bank organized, reorganized, or operating under IC 28-6 (before its repeal) before July 1, 1993. As added by P.L.42-1993, SEC.72.

Sec. 10. (a) A person interested in the disposition (including a depositor or a creditor of the savings bank) aggrieved by the proposed disposition may file in the court a verified statement of objections to the proposed disposition. (b) The statement must be filed not more than …

Sec. 11. (a) If a statement is filed under section 10 of this chapter, the matter shall be docketed upon the books of the court, entitled "In the Matter of the Proposed Sale of Assets of _____________" (inserting the name of the savings bank). (b) The savings bank is considered t…

Sec. 12. If the court finds that the disposition, as proposed in the resolution, is fair and will be in the best interests of the depositors and other creditors of the savings bank, the court shall enter an order directing the disposition, as set forth in the resolution, be carri…

Sec. 13. If the court finds that the disposition proposed by the resolution is not fair or will not be in the best interests of the depositors or other creditors of the savings bank, the court shall enter an order enjoining the proposed disposition and assessing the costs of the …

Sec. 14. A decision of the court under section 12 or 13 of this chapter is final. As added by P.L.42-1993, SEC.72.

Sec. 2. As used in this chapter, "disposition" includes a sale, a lease, an exchange, or other disposition. As added by P.L.42-1993, SEC.72.

Sec. 3. A savings bank may, at any time if otherwise lawful, dispose of all or substantially all of its property and assets, including good will, upon terms and conditions and for consideration the savings bank considers beneficial. As added by P.L.42-1993, SEC.72.

Sec. 4. (a) A disposition under this chapter must be approved by the board of the savings bank by the adoption of a resolution by the affirmative vote of at least two-thirds (2/3) of the then qualified and acting trustees. (b) The resolution may be adopted at a regular meeting or…

Sec. 5. (a) Upon receiving a notice under section 4 of this chapter, the department shall conduct investigations it considers necessary. (b) If the department is satisfied that the proposed disposition is fair and will be in the best interests of the depositors and other creditor…

Sec. 6. (a) If the department approves the disposition under section 5 of this chapter, the two (2) copies of the resolution returned to the savings bank shall be submitted to the circuit court with jurisdiction in the county in which the savings bank is located. (b) If, upon goo…

Sec. 7. If the court approves the disposition under section 6 of this chapter, one (1) copy of the resolution shall be filed in the office of the circuit court clerk and the other copy shall be retained by the savings bank. As added by P.L.42-1993, SEC.72.

Sec. 8. The disposition may not take place until the court approves it. As added by P.L.42-1993, SEC.72.

Sec. 9. If the court approves the disposition, the savings bank shall give notice of the disposition not more than five (5) days after the approval as follows: (1) By publishing notice of the disposition one (1) time in a newspaper of general circulation printed in the English la…

Sec. 1.1. (a) When a statement of account has been delivered by a bank or savings bank to a depositor, the account, after the period of three (3) years from the date of its delivery, shall be deemed finally adjusted and its correctness conclusively presumed. A statement of accoun…

Sec. 3. All transfers of notes, bonds, bills of exchange and other evidences of debt owing to any bank or trust company; all transfers of deposits to its credit; all assignments of mortgages, sureties on real estate, or of judgments or decrees in its favor; all deposits of money,…

Sec. 4. (a) Except as provided in subsections (c), (d), (g), and (o), it is unlawful for any person, firm, limited liability company, or corporation (other than a bank or trust company, a bank holding company, a subsidiary of a bank or trust company, a subsidiary of a bank holdin…

Sec. 5. All persons, regardless of age, may become depositors in any bank or trust company and shall be subject to the same duties and liabilities respecting their deposits. Whenever a deposit is accepted by any bank or trust company in the name of any person, regardless of age, …

Sec. 6. When, in case of any loan made by any bank or trust company, the borrower, or any other person furnishing security on behalf of the borrower, shall, as an inducement to the bank or trust company to make the loan, represent to it, in writing, that he or she is eighteen (18…

Sec. 7. With the consent and approval of the department, any bank or trust company may become associated with any organization or association of banks and trust companies, whether state or national, or both, if such organization or association is formed pursuant to federal legisl…

Sec. 8. (a) When and if any bank or trust company organized or reorganized under the provisions of this article, or any bank of discount and deposit or loan and trust and safe deposit company organized under any law enacted prior to February 24, 1933, shall be required to cease a…

Sec. 1. For purposes of this article, a savings bank 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 bank were a member of the F…

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 bank or a subsidiary constitutes a violation of this chapter. As added by P.L.258-2003, SEC.9.

Sec. 1. (a) Any bank, savings bank, trust company, corporate fiduciary, credit union, industrial loan and investment company, or savings association that: (1) is organized under the laws of: (A) any other state (as defined in IC 28-2-17-19); (B) the United States; or (C) any othe…

Sec. 1.5. (a) As used in this section, "eligible entity" means a bank, savings bank, trust company, corporate fiduciary, credit union, industrial loan and investment company, or savings association that: (1) is organized under the laws of: (A) any other state (as defined in IC 28…

Sec. 10. If a foreign corporation transacts business in this state before it has received the approval of the department, the officers and directors of the corporation shall be severally liable for the liabilities of the corporation that result from the corporation's transaction …