Title 28, FINANCIAL INSTITUTIONS

Sec. 11. As used in this chapter, "member" means any depositor or borrower of a savings bank subsidiary of a mutual holding company that is entitled, under a statute or the articles of incorporation or bylaws of the mutual holding company, to vote on matters affecting the mutual …

Sec. 12. As used in this chapter, "mutual holding company" means a mutual savings bank holding company that: (1) is: (A) organized under IC 28-6.2-2 or converted under IC 28-6.2-7-6; or (B) organized under the laws of any other state or the United States; and (2) has control over…

Sec. 13. "Mutual savings bank" means a financial institution: (1) defined in IC 28-6.1-2-5; or (2) organized, reorganized, or operating before January 1, 1993, under IC 28-6 (before its repeal). As added by P.L.122-1994, SEC.101. Amended by P.L.11-1998, SEC.12.

Sec. 14. "Parent", when describing the relationship between two (2) companies, means the company that controls the other company, either directly or indirectly, through one (1) or more subsidiaries. As added by P.L.122-1994, SEC.101.

Sec. 15. "Person" means an individual or company. As added by P.L.122-1994, SEC.101.

Sec. 16. "Reorganization plan" means a plan to reorganize into the mutual holding company. As added by P.L.122-1994, SEC.101.

Sec. 17. "Reorganizing savings bank" means a mutual savings bank that proposes to reorganize into a mutual holding company under this chapter. As added by P.L.122-1994, SEC.101.

Sec. 18. "Resulting savings bank" means a stock savings bank that is organized as a subsidiary of a reorganizing savings bank to receive a substantial part of the assets and liabilities, including all deposit accounts, of the reorganizing savings bank upon consummation of the reo…

Sec. 19. (a) As used in this chapter, "savings association" means a savings association (as defined in 12 U.S.C. 1813(3)(b)(1)) the deposits of which are insured by the FDIC. (b) The term includes: (1) a federal savings association; (2) a federal savings bank; and (3) a savings a…

Sec. 2. "Acquiree savings bank" means any savings bank other than a resulting savings bank that: (1) is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization; and (2) is in the mutual form immediately before the acquisitio…

Sec. 20. (a) "Stock" means the units into which the proprietary interests of a savings bank are divided. (b) The term includes: (1) common or preferred stock; (2) any other type of equity security; (3) warrants or options to acquire common or preferred stock; and (4) other securi…

Sec. 21. "Stock benefit plan" means any defined benefit plan or defined contribution plan. The term includes: (1) an employee stock ownership plan; (2) a stock bonus plan; (3) a profit-sharing plan; or (4) any other plan of a mutual holding company or any of its subsidiaries or a…

Sec. 22. "Stock issuance plan" means a plan submitted under IC 28-6.2-3 providing for the issuance of stock by a savings bank subsidiary of a mutual holding company. As added by P.L.122-1994, SEC.101.

Sec. 23. "Stock savings bank" has the meaning set forth in IC 28-6.1-2-7. As added by P.L.122-1994, SEC.101.

Sec. 24. "Subsidiary" means a company controlled either directly or indirectly by another company. As added by P.L.122-1994, SEC.101.

Sec. 25. As used in this chapter, "voting parties" means the: (1) depositors; and (2) borrowers; of a mutual savings bank. As added by P.L.11-1998, SEC.13.

Sec. 3. (a) "Acting in concert" means: (1) knowing participation in a joint activity or interdependent conscious parallel action towards a common goal, whether or not under an express agreement; or (2) a combination of pooling of voting or other interests in the securities of an …

Sec. 4. "Affiliate" means a person that, directly or indirectly, through one (1) or more intermediaries: (1) controls; (2) is controlled by; or (3) is under common control with; another person. As added by P.L.122-1994, SEC.101.

Sec. 5. "Associate", when indicating a relationship between persons, means: (1) any corporation or organization, other than the applicant or a majority-owned subsidiary of the applicant, of which the person: (A) is an officer or a partner; or (B) is directly or indirectly the ben…

Sec. 6. (a) "Company" means: (1) any corporation, partnership, business trust, joint venture, association, or similar organization; or (2) any other trust, unless by its terms it must terminate: (A) within twenty-five (25) years; or (B) not later than twenty-one (21) years and te…

Sec. 7. (a) "Control" of a savings bank means: (1) controlling, owning, or having the power to vote, directly or indirectly, or acting through one (1) or more persons, twenty-five percent (25%) or more of any class of voting securities of the savings bank; or (2) in any manner co…

Sec. 8. As used in this chapter, "default" means any adjudication or other official determination of a court or other public authority under which a conservator, receiver, or other legal custodian is appointed for a mutual holding company or savings bank subsidiary of a mutual ho…

Sec. 9. As used in this chapter, "director" refers to the director of the department of financial institutions. As added by P.L.122-1994, SEC.101.

Sec. 23. (a) A corporation or an individual acting directly, indirectly, or through or in concert with one (1) or more other corporations or individuals may not acquire control of any bank, trust company, stock savings bank, holding company, corporate fiduciary, or industrial loa…

Sec. 23.5. This title does not prohibit the acquisition of control of one (1) or more stock savings banks by a bank holding company, a corporation, an individual, or individuals acting in concert with one (1) or more individuals if the acquisition is in compliance with section 23…

Sec. 30. (a) As used in this section, "financial institution" means any bank, trust company, corporate fiduciary, savings association, credit union, savings bank, bank of discount and deposit, or industrial loan and investment company organized or reorganized under the laws of th…

Sec. 30.5. (a) This section applies to the following: (1) Any: (A) financial institution; (B) person required to file notification with the department under IC 37-2-7-25; (C) person subject to IC 24-7; or (D) other person subject to regulation by the department. (2) Any person li…

Sec. 31. The department may, in its discretion, accept any examination of any financial institution made by federal authority in lieu of the examination made under the provisions of this article. Formerly: Acts 1933, c.40, s.33. As amended by P.L.263-1985, SEC.9.

Sec. 36. It is a Class A misdemeanor for a person to knowingly solicit from any officer or employee of the department any money or other property for political assessments or contributions. Formerly: Acts 1933, c.40, s.38. As amended by Acts 1978, P.L.2, SEC.2806.

Sec. 40. (a) As used in this section, "act" refers to the federal Credit Card Accountability Responsibility and Disclosure Act of 2009 as it applies to Indiana borrowers. (b) If the department receives credible evidence from any source that a financial institution that issues to …

Sec. 6. Every financial institution to which this article is applicable shall conduct and transact its business in a safe and prudent manner; shall maintain such institution in a safe and solvent condition; and shall establish and maintain safe and sound methods for the conduct o…

Sec. 6.5. (a) A financial institution (as defined in IC 28-1-1-3(1)), except for a licensee under IC 37-1, IC 37-2, or 750 IAC 9, shall comply with the following: (1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.). (2) The USA Patriot Act of 2001 (P.L. 107-56). (3) Any regulations…

Sec. 1. Nothing in any law of this state shall in any manner whatsoever affect the validity of or render void or voidable the payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by a bank or trust company in this state, because…

Sec. 1. (a) Subject to the applicable provisions of IC 28-2-13 or IC 28-2-17, any bank or trust company may convert into or merge or consolidate with a national banking association. Nothing contained in this chapter or in any other law of this state shall be construed to require …

Sec. 10. (a) A savings bank may request that the department order the savings bank to merge, consolidate, or otherwise join with an acquiring institution that is a national banking association. (b) A savings bank may make a request under subsection (a) only if its board of truste…

Sec. 2. The plan of conversion, merger, or consolidation shall be approved by the board of directors of the bank or trust company and shall be approved by the board of directors of the national banking association. In cases where a national banking association proposes to convert…

Sec. 3. The board of directors of the bank or trust company and the board of directors of the national banking association shall each give notice of the time, place, and object of the shareholders' meeting, to act upon the plan of conversion, merger, or consolidation, to each of …

Sec. 4. Whenever any bank or trust company shall have merged or consolidated with a national banking association, such bank or trust company shall thereupon cease to be a corporation under the laws of this state, except that for a term of three (3) years thereafter its corporate …

Sec. 5. The merger or consolidation of a bank or trust company with, or the conversion of a bank or trust company into a national banking association shall not release such bank or trust company from its obligation to pay and discharge all of the liabilities created by law or inc…

Sec. 6. At the time when the merger or consolidation of a bank or trust company with or the conversion of a bank or trust company into a national banking association, or under such charter as may be issued thereafter, becomes effective, all of the property of such bank or trust c…

Sec. 7. If any bank or trust company is acting as the administrator, coadministrator, executor, coexecutor, trustee or cotrustee of or in respect to any estate or trust or guardian of any person or estate which is being administered under the laws of this state, or has been named…

Sec. 8. Nothing done in connection with the merger or consolidation of any bank or trust company with, or the conversion of any bank or trust company into a national banking association shall be deemed to be or to effect a renunciation or revocation of any letters of administrati…

Sec. 9. As used in this chapter: (1) the term "bank or trust company" means any bank or trust company organized under the provisions of any statute of this state; and (2) the term "national banking association" means any national bank organized under the laws of the United States…

Sec. 2. If any certificate holder of any industrial loan and investment company shall die, leaving unpledged certificates in such company and no executor of the will or administrator of the estate has been appointed, such company, may, in its discretion, pay the value of such cer…

Sec. 3. Payment of the certificates as provided in sections 1 and 2 of this chapter shall be subject to the provisions set forth in IC 28-5-1-12. Formerly: Acts 1953, c.61, s.3. As amended by P.L.263-1985, SEC.157.