Title 28, FINANCIAL INSTITUTIONS

Sec. 3.1. As used in this chapter, "primary federal regulator" means the federal agency primarily responsible for the regulation of: (1) savings associations; or (2) savings association holding companies; organized under the laws of any state or the United States. As added by P.L…

Sec. 4. (a) As used in this chapter, "savings association" means an institution (as defined in 12 U.S.C. 1813(b)) that maintains its principal office in Indiana. (b) The term includes: (1) federally chartered savings associations and savings banks; and (2) state savings and loan …

Sec. 5. As used in this chapter, "stock savings bank" means a savings bank owned by holders of capital stock and formed by conversion under this chapter. As added by P.L.42-1993, SEC.43.

Sec. 6. As used in this chapter, "stock savings bank conversion" means the conversion of a savings association to a stock savings bank, including any of the following: (1) A conversion in connection with the formation of a holding company. (2) An acquisition involving an existing…

Sec. 7. As used in this chapter, "voting parties" means the following: (1) In the case of a mutual savings association, the mutual savings association's depositors or members. (2) In the case of a stock savings association, the stock savings association's stockholders. As added b…

Sec. 8. With the approval of the department, a stock savings association may convert to a stock savings bank under this chapter. As added by P.L.42-1993, SEC.43.

Sec. 9. (a) The department shall prescribe procedures for stock savings bank conversions. (b) The procedures prescribed by the department must include the following: (1) The savings association must prepare and submit a conversion plan to the department that provides the terms an…

Sec. 1. As used in this chapter, "charter conversion" means the conversion of a savings bank to a stock savings bank, including any of the following: (1) A conversion in connection with the formation of a holding company. (2) An acquisition involving an existing corporation. (3) …

Sec. 10. (a) The department may approve or disapprove the conversion plan filed under section 9 of this chapter. (b) The department is not required to hold a hearing on the conversion plan. (c) Solicitation of the votes of voting parties may occur before the savings bank receives…

Sec. 11. The department may not approve the conversion plan unless the department finds, after appropriate investigation or examination, all of the following: (1) That the resulting stock savings bank will operate in a safe, sound, and prudent manner. (2) That the proposed charte…

Sec. 12. At the effective time of the charter conversion, the resulting stock savings bank: (1) possesses all of the rights, privileges, immunities, and powers of a stock savings bank; (2) unless otherwise provided in this chapter, is subject to all of the statutes, regulations, …

Sec. 13. The department may authorize the resulting stock savings bank to do the following: (1) Wind up any activities legally engaged in by the savings bank at the effective time of the charter conversion not permitted to stock savings banks. (2) Retain for a transitional period…

Sec. 14. Notwithstanding IC 28-6.1-12, a stock savings bank created by charter conversion may retain all branches lawfully established. As added by P.L.42-1993, SEC.44.

Sec. 15. (a) To effect the charter conversion, the converting savings bank must file with the secretary of state articles of charter conversion showing the approval of the director of the department. (b) The converting savings bank shall record copies of the articles of charter c…

Sec. 16. (a) Except as provided in subsection (c), a stock savings bank formed under this chapter is governed by IC 28-6.1. (b) For purposes of a stock savings bank formed under this chapter, a reference in IC 28-6.1 to formation and operation by a board means: (1) formation by c…

Sec. 17. The department may adopt rules under IC 4-22-2 or policies to implement this chapter. As added by P.L.42-1993, SEC.44.

Sec. 2. As used in this chapter, "conversion plan" refers to the plan of charter conversion of a savings bank to a stock savings bank required by this chapter. As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.37.

Sec. 3. As used in this chapter, "effective time of the charter conversion" means: (1) the date that articles of conversion are filed with the secretary of state; or (2) the date designated in the articles of conversion. As added by P.L.42-1993, SEC.44. Amended by P.L.122-1994, S…

Sec. 5.1. As used in this chapter, "primary federal regulator" means the federal agency primarily responsible for the regulation of: (1) savings associations (as defined in IC 28-15-1-11); or (2) savings association holding companies; organized under the laws of any state or the …

Sec. 5.5. As used in this chapter, "savings bank" has the meaning set forth in IC 28-6.1-2-6. As added by P.L.262-1995, SEC.38.

Sec. 6. As used in this chapter, "stock savings bank" means a savings bank that is: (1) owned by holders of capital stock; and (2) formed by conversion under this chapter. As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.39.

Sec. 7. As used in this chapter, "voting parties" means the: (1) depositors; and (2) borrowers; of a savings bank. As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.40.

Sec. 8. With the approval of the department, a savings bank may convert its charter under this chapter. As added by P.L.42-1993, SEC.44. Amended by P.L.262-1995, SEC.41.

Sec. 9. (a) The department shall prescribe procedures for charter conversions under this chapter. (b) The procedures prescribed by the department must include the following: (1) The savings bank must prepare and submit a conversion plan to the department that provides the terms a…

Sec. 9.5. The voting parties of a savings bank have the voting rights set forth in IC 28-13-6-2 with respect to a charter conversion of the savings bank under this chapter. As added by P.L.262-1995, SEC.43.

Sec. 1. As used in this chapter, "director" refers to the director of the department of financial institutions. As added by P.L.135-2014, SEC.3.

Sec. 2. As used in this chapter, "eligible depository financial institution" means a credit union that is organized or reorganized under Indiana law with the express power to receive and accept deposits of money subject to withdrawal by any of the methods set forth in IC 28-1-23-…

Sec. 3. As used in this chapter, "eligible individual", with respect to a prize linked savings program, means an individual who: (1) is at least eighteen (18) years of age; (2) is a member of the eligible depository financial institution conducting the prize linked savings progra…

Sec. 4. (a) As used in this chapter, "qualified account", for purposes of a prize linked savings program, means: (1) a savings account; (2) a time deposit; or (3) a savings program; that is offered by an eligible depository financial institution to an eligible individual. (b) The…

Sec. 5. (a) As used in this chapter, "qualified financial program", for purposes of a prize linked savings program, means any savings, debt reduction, or financial education program or product that an eligible depository financial institution offers to eligible individuals for th…

Sec. 6. As used in this chapter, "prize linked savings program" means a contest: (1) that is associated with one (1) or more qualified accounts or one (1) or more qualified financial programs offered by an eligible depository financial institution to eligible individuals; (2) tha…

Sec. 7. (a) Subject to subsections (b) and (c) and section 8 of this chapter, and subject to any rules, policies, or guidance adopted by the director under section 9 of this chapter, an eligible depository financial institution may offer and conduct a prize linked savings program…

Sec. 8. (a) An eligible depository financial institution that offers a prize linked savings program under this chapter shall: (1) post in any location where entries may be submitted; and (2) disclose in any: (A) printed materials; or (B) electronic media; promoting the prize link…

Sec. 9. The director may do any of the following: (1) Prescribe the form or manner in which an eligible depository financial institution may seek approval from the department to offer a prize linked savings program to eligible individuals. (2) Adopt rules, policies, or guidance c…

Sec. 1. This chapter applies to the following financial institutions: (1) A bank operating under IC 28-1-11. (2) A credit union operating under IC 28-7-1. (3) A savings bank operating under IC 28-6.1. (4) A savings association operating under IC 28-15. As added by P.L.10-2006, SE…

Sec. 2. As used in this chapter, "electronic activity" refers to: (1) any activity or function that a financial institution performs through electronic means or facilities; or (2) the provision or delivery of any product or service by a financial institution through the use of el…

Sec. 3. An electronic activity performed by a financial institution must be consistent with the following: (1) Standards used by the department to determine whether a financial institution is operating or will operate in a safe and sound condition. (2) State and federal consumer …

Sec. 4. (a) The director may determine whether an electronic activity by a financial institution is permitted under: (1) IC 28-1-11, with respect to a bank; (2) IC 28-7-1, with respect to a credit union; (3) IC 28-6.1, with respect to a savings bank; (4) IC 28-15, with respect to…

Sec. 5. (a) An electronic activity is authorized for a financial institution as part of the financial institution's business if the activity is described in: (1) IC 28-1-11, with respect to a bank; (2) IC 28-7-1, with respect to a credit union; (3) IC 28-6.1, with respect to a sa…

Sec. 6. (a) An electronic activity is authorized for a financial institution as incidental to the financial institution's business if the activity is convenient or useful to an activity that is: (1) specifically authorized for the type of financial institution under consideration…

Sec. 7. (a) As used in this section, "potential risks", with respect to a proposed electronic activity by a financial institution, include the following: (1) Legal risks. (2) Transactional risks. (3) Risk of the financial institution's noncompliance with applicable statutes, regu…

Sec. 8. (a) A financial institution described in section 1(1), 1(3), or 1(4) of this chapter may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that a national bank is specifically authorized to perform, provide, or…

Sec. 9. A financial institution may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that it is otherwise authorized or required to perform, provide, or deliver by nonelectronic means or facilities, subject to the fol…

Sec. 1. When, in case of any loan or sale made by any seller, creditor or secured party, the borrower, or any other person furnishing security on behalf of the borrower, shall, as an inducement to the seller, creditor or secured party to make the loan or sale, represent to it, in…