IC 28
    TITLE 28. FINANCIAL INSTITUTIONS

IC 28-1
    ARTICLE 1. DEPARTMENT OF FINANCIALINSTITUTIONS

IC 28-1-1
    Chapter 1. Definitions and Application of Article

IC 28-1-1-1
Short title
    Sec. 1. This article shall be known and may be cited as TheIndiana Financial Institutions Act.
(Formerly: Acts 1933, c.40, s.1.) As amended by P.L.263-1985,SEC.1.

IC 28-1-1-2
Application of article
    Sec. 2. This article applies to every financial institution and toother corporations and individuals as may by law after July 1, 1933,be subjected to the provisions of this article.
(Formerly: Acts 1933, c.40, s.2.) As amended by P.L.263-1985,SEC.2; P.L.42-1993, SEC.19.

IC 28-1-1-3
Definitions
    Sec. 3. Unless a different meaning is required by the context, thefollowing definitions apply throughout this article:
        (1) "Financial institution" means any bank, trust company,corporate fiduciary, savings association, credit union, savingsbank, bank of discount and deposit, or industrial loan andinvestment company organized or reorganized under the lawsof this state, and includes a consumer finance institutionlicensed to make supervised or regulated loans under IC 24-4.5.
        (2) "Bank" or "bank or trust company" means a financialinstitution organized or reorganized as a bank, bank of discountand deposit, or trust company under the laws of this state withthe express power to receive and accept deposits of moneysubject to withdrawal by check, and possessing such otherrights and powers granted by the provisions of this article inexpress terms or by implication. The term "bank" or "bank ortrust company" does not include a savings association, creditunion, or industrial loan and investment company.
        (3) "Domestic corporation" means a corporation formed underthe laws of this state, and "foreign corporation" means everyother corporation.
        (4) "Articles of incorporation" includes both the originalarticles of incorporation and any and all amendments thereto,

except where the original articles of incorporation only areexpressly referred to, and includes articles of merger andconsolidation, and, in the case of corporations organized beforeJuly 1, 1933, articles of reorganization, and all amendmentsthereto.
        (5) "Incorporator" means one (1) of the signers of the originalarticles of incorporation.
        (6) "Subscriber" means one who subscribes for shares of stockin a financial institution.
        (7) "Shareholder" means one who is a holder of record of sharesof stock in a financial institution.
        (8) "Capital stock" means the aggregate amount of the par valueof all shares of capital stock.
        (9) "Capital" means the aggregate amount paid in on the sharesof capital stock of a financial institution issued and outstanding.
        (10) "Capital and surplus" or "unimpaired capital andunimpaired surplus" has the meaning set forth in 12 CFR 32.2.
        (11) "Assets" includes all of the property and rights of everykind of a financial institution, and the term "fixed assets" meanssuch assets as are not intended to be sold or disposed of in theordinary course of business.
        (12) "Principal office" means that office maintained by thefinancial institution in this state, the address of which isrequired by the provisions of this article to be kept on file in theoffice of the secretary of state.
        (13) "Subscription" means any written agreement orundertaking, accepted by a financial institution, for the purchaseof shares of capital stock in the financial institution.
        (14) "Department" means the department of financialinstitutions.
        (15) "Member" means a member of the department of financialinstitutions.
        (16) "Branch" means any office, agency, or other place ofbusiness, other than the principal office of a financialinstitution, at which deposits are received, checks paid, ormoney lent.
        (17) "Subsidiary" means any foreign or domestic corporation orlimited liability company in which the parent bank, savingsbank, savings association, or industrial loan and investmentcompany had at least eighty percent (80%) ownership beforeJuly 1, 1999, or is formed or acquired in accordance withIC 28-13-16 after June 30, 1999.
        (18) "Savings bank" means a financial institution that:
            (A) was organized, reorganized, or operating under IC 28-6(before its repeal) before January 1, 1993;
            (B) is formed as the result of a conversion under:
                (i) IC 28-1-21.7;
                (ii) IC 28-1-21.8;
                (iii) IC 28-1-21.9; or
                (iv) IC 28-1-30; or            (C) is incorporated under IC 28-12.
        (19) "Corporate fiduciary" means a financial institution whoseprimary business purpose is to engage in the trust business (asdefined in IC 28-14-1-8) and the execution and administrationof fiduciary accounts as a nondepository trust companyincorporated under Indiana law.
(Formerly: Acts 1933, c.40, s.3a; Acts 1945, c.348, s.1; Acts 1965,c.356, s.23; Acts 1971, P.L.394, SEC.1.) As amended by Acts 1977,P.L.289, SEC.1; P.L.262-1983, SEC.1; P.L.42-1993, SEC.20;P.L.122-1994, SEC.39; P.L.262-1995, SEC.1; P.L.192-1997, SEC.1;P.L.79-1998, SEC.34; P.L.62-1999, SEC.1; P.L.215-1999, SEC.1;P.L.213-2007, SEC.34; P.L.217-2007, SEC.32.

IC 28-1-1-3.5
Affiliate relationship
    Sec. 3.5. Except as otherwise provided, for purposes of this title,a company is an affiliate of any financial institution or other personsubject to this title if the company bears the same relationship to thefinancial institution or person subject to this title as a companydescribed in IC 28-1-18.2-1 bears to a bank.
As added by P.L.10-2006, SEC.27 and P.L.57-2006, SEC.27.

IC 28-1-1-4
"Fund"
    Sec. 4. As used in IC 28-11, "fund" refers to the financialinstitutions fund established by IC 28-11-2-9.
As added by P.L.33-1991, SEC.2.

IC 28-1-1-5
References to savings associations
    Sec. 5. A reference in the Indiana Code to any of the followingshall be interpreted as a reference to a savings association (as definedin IC 28-15-1-11):
        (1) Building and loan association.
        (2) Savings and loan association.
        (3) Rural loan and savings association.
        (4) Guaranty loan and savings association.
        (5) Mutual association.
        (6) Stock association.
As added by P.L.193-1997, SEC.1.

IC 28-1-1-6
"Depository financial institution"
    Sec. 6. For purposes of IC 28-1-23-16, "depository financialinstitution" means a financial institution that is:
        (1) a commercial bank, organized or reorganized under the lawof another state (as defined in IC 28-2-17-19) or United Stateslaw;
        (2) a trust company, organized or reorganized under the law ofanother state (as defined in IC 28-2-17-19) or United States law;        (3) a credit union, organized or reorganized under the law ofanother state (as defined in IC 28-2-17-19) or United States law;
        (4) a savings bank, organized or reorganized under the law ofanother state (as defined in IC 28-2-17-19) or United States law;
        (5) a savings association, organized or reorganized underIndiana law, the law of another state (as defined inIC 28-2-17-19), or United States law;
        (6) a bank of discount and deposit, organized or reorganizedunder the law of another state (as defined in IC 28-2-17-19) orUnited States law;
        (7) an industrial loan and investment company, organized orreorganized under Indiana law, the law of another state (asdefined in IC 28-2-17-19), or United States law; or
        (8) a financial institution similar to those listed in subdivisions(1) through (7), organized or reorganized under Indiana law, thelaw of another state (as defined in IC 28-2-17-19), or UnitedStates law.
As added by P.L.81-2001, SEC.1.