IC 28-1-25
    Chapter 25. Loans or Obligations Secured by the United StatesGovernment

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Exemption from limitations under state laws
    Sec. 1. Whenever the United States, any federal reserve bank ofthe United States, or any department, bureau, board, or commissionof the United States, including any corporation wholly owneddirectly or indirectly by the United States, shall secure or guaranteethe payment of or make commitment or agreement to take over orpurchase the full amount of any loans or obligations of any financialinstitution or of any investment type industrial loan and investmentcompany, such loans or obligations shall not be subject to anylimitations in the laws of this state based upon the nature, priority,amount, location, or form of security prescribing or limiting theperiod for which loans or advances of credit may be made,prescribing any ratio between the amount of any loan and theappraised value of security for such loan, or requiring periodicalreduction of the principal of any loan.
(Formerly: Acts 1945, c.47, s.1.) As amended by P.L.263-1985,SEC.104.

IC 28-1-25-2
Application of limitations under state laws to unsecured portion ofloans partially federally secured
    Sec. 2. Whenever the United States, any federal reserve bank ofthe United States, or any department, bureau, board, or commissionof the United States, including any corporation wholly owneddirectly or indirectly by the United States, shall secure or guaranteethe payment of or make commitment or agreement to take over orpurchase any portion of a loan or obligation of any financialinstitution or any investment type industrial loan and investmentcompany, any law of this state prescribing the ratio between theamount of any loan or obligation and the appraised value of thesecurity for such loan or obligation shall apply only to the portion ofsuch loan or obligation which is not secured or guaranteed or uponwhich there is no commitment or agreement to take over or purchase.
(Formerly: Acts 1945, c.47, s.2.) As amended by P.L.263-1985,SEC.105.

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Rules
    Sec. 3. To permit and encourage financial institutions andinvestment type industrial loan and investment companies of thisstate to make loans secured or guaranteed or upon which there is acommitment or agreement to take over or purchase in whole or partby the United States or an agency thereof, as described in section 1of this chapter, on terms, provisions, and conditions equal to thoseapplicable from time to time to national banking associations and to

federal savings and loan associations, as the case may be, thedepartment of financial institutions is hereby authorized andempowered to supplement sections 1 and 2 of this chapter by makingand promulgating rules with respect to the nature, priority, amount,location, or form of security for such loans prescribing or limiting theperiod for which such loans or advances for credit may be made,prescribing any ratio between the amount of such loans and theappraised value of security, and requiring periodical reduction of theprincipal of any loan which any such financial institution of this statemay make. Such rules shall not restrict the provisions of sections 1and 2 of this chapter.
(Formerly: Acts 1945, c.47, s.3.) As amended by P.L.263-1985,SEC.106.