IC 28-1 ARTICLE 1. DEPARTMENT OF FINANCIAL
INSTITUTIONS
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 The
Indiana 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 to
other 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, the
following definitions apply throughout this article:
(1) "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 this state, and includes a consumer finance institution
licensed to make supervised or regulated loans under IC 24-4.5.
(2) "Bank" or "bank or trust company" means a financial
institution organized or reorganized as a bank, bank of discount
and deposit, or trust company under the laws of this state with
the express power to receive and accept deposits of money
subject to withdrawal by check, and possessing such other
rights and powers granted by the provisions of this article in
express terms or by implication. The term "bank" or "bank or
trust company" does not include a savings association, credit
union, or industrial loan and investment company.
(3) "Domestic corporation" means a corporation formed under
the laws of this state, and "foreign corporation" means every
other corporation.
(4) "Articles of incorporation" includes both the original
articles of incorporation and any and all amendments thereto,
except where the original articles of incorporation only are
expressly referred to, and includes articles of merger and
consolidation, and, in the case of corporations organized before
July 1, 1933, articles of reorganization, and all amendments
thereto.
(5) "Incorporator" means one (1) of the signers of the original
articles of incorporation.
(6) "Subscriber" means one who subscribes for shares of stock
in a financial institution.
(7) "Shareholder" means one who is a holder of record of shares
of stock in a financial institution.
(8) "Capital stock" means the aggregate amount of the par value
of all shares of capital stock.
(9) "Capital" means the aggregate amount paid in on the shares
of capital stock of a financial institution issued and outstanding.
(10) "Capital and surplus" or "unimpaired capital and
unimpaired surplus" has the meaning set forth in 12 CFR 32.2.
(11) "Assets" includes all of the property and rights of every
kind of a financial institution, and the term "fixed assets" means
such assets as are not intended to be sold or disposed of in the
ordinary course of business.
(12) "Principal office" means that office maintained by the
financial institution in this state, the address of which is
required by the provisions of this article to be kept on file in the
office of the secretary of state.
(13) "Subscription" means any written agreement or
undertaking, accepted by a financial institution, for the purchase
of shares of capital stock in the financial institution.
(14) "Department" means the department of financial
institutions.
(15) "Member" means a member of the department of financial
institutions.
(16) "Branch" means any office, agency, or other place of
business, other than the principal office of a financial
institution, at which deposits are received, checks paid, or
money lent.
(17) "Subsidiary" means any foreign or domestic corporation or
limited liability company in which the parent bank, savings
bank, savings association, or industrial loan and investment
company had at least eighty percent (80%) ownership before
July 1, 1999, or is formed or acquired in accordance with
IC 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 whose
primary business purpose is to engage in the trust business (as
defined in IC 28-14-1-8) and the execution and administration
of fiduciary accounts as a nondepository trust company
incorporated 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 person
subject to this title if the company bears the same relationship to the
financial institution or person subject to this title as a company
described 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 financial
institutions 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 following
shall be interpreted as a reference to a savings association (as defined
in 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 financial
institution" means a financial institution that is:
(1) a commercial bank, organized or reorganized under the law
of another state (as defined in IC 28-2-17-19) or United States
law;
(2) a trust company, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(3) a credit union, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(4) a savings bank, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(5) a savings association, organized or reorganized under
Indiana law, the law of another state (as defined in
IC 28-2-17-19), or United States law;
(6) a bank of discount and deposit, organized or reorganized
under the law of another state (as defined in IC 28-2-17-19) or
United States law;
(7) an industrial loan and investment company, organized or
reorganized under Indiana law, the law of another state (as
defined 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, the
law of another state (as defined in IC 28-2-17-19), or United
States law. As added by P.L.81-2001, SEC.1.
IC 28-1 ARTICLE 1. DEPARTMENT OF FINANCIAL
INSTITUTIONS
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 The
Indiana 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 to
other 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, the
following definitions apply throughout this article:
(1) "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 this state, and includes a consumer finance institution
licensed to make supervised or regulated loans under IC 24-4.5.
(2) "Bank" or "bank or trust company" means a financial
institution organized or reorganized as a bank, bank of discount
and deposit, or trust company under the laws of this state with
the express power to receive and accept deposits of money
subject to withdrawal by check, and possessing such other
rights and powers granted by the provisions of this article in
express terms or by implication. The term "bank" or "bank or
trust company" does not include a savings association, credit
union, or industrial loan and investment company.
(3) "Domestic corporation" means a corporation formed under
the laws of this state, and "foreign corporation" means every
other corporation.
(4) "Articles of incorporation" includes both the original
articles of incorporation and any and all amendments thereto,
except where the original articles of incorporation only are
expressly referred to, and includes articles of merger and
consolidation, and, in the case of corporations organized before
July 1, 1933, articles of reorganization, and all amendments
thereto.
(5) "Incorporator" means one (1) of the signers of the original
articles of incorporation.
(6) "Subscriber" means one who subscribes for shares of stock
in a financial institution.
(7) "Shareholder" means one who is a holder of record of shares
of stock in a financial institution.
(8) "Capital stock" means the aggregate amount of the par value
of all shares of capital stock.
(9) "Capital" means the aggregate amount paid in on the shares
of capital stock of a financial institution issued and outstanding.
(10) "Capital and surplus" or "unimpaired capital and
unimpaired surplus" has the meaning set forth in 12 CFR 32.2.
(11) "Assets" includes all of the property and rights of every
kind of a financial institution, and the term "fixed assets" means
such assets as are not intended to be sold or disposed of in the
ordinary course of business.
(12) "Principal office" means that office maintained by the
financial institution in this state, the address of which is
required by the provisions of this article to be kept on file in the
office of the secretary of state.
(13) "Subscription" means any written agreement or
undertaking, accepted by a financial institution, for the purchase
of shares of capital stock in the financial institution.
(14) "Department" means the department of financial
institutions.
(15) "Member" means a member of the department of financial
institutions.
(16) "Branch" means any office, agency, or other place of
business, other than the principal office of a financial
institution, at which deposits are received, checks paid, or
money lent.
(17) "Subsidiary" means any foreign or domestic corporation or
limited liability company in which the parent bank, savings
bank, savings association, or industrial loan and investment
company had at least eighty percent (80%) ownership before
July 1, 1999, or is formed or acquired in accordance with
IC 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 whose
primary business purpose is to engage in the trust business (as
defined in IC 28-14-1-8) and the execution and administration
of fiduciary accounts as a nondepository trust company
incorporated 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 person
subject to this title if the company bears the same relationship to the
financial institution or person subject to this title as a company
described 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 financial
institutions 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 following
shall be interpreted as a reference to a savings association (as defined
in 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 financial
institution" means a financial institution that is:
(1) a commercial bank, organized or reorganized under the law
of another state (as defined in IC 28-2-17-19) or United States
law;
(2) a trust company, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(3) a credit union, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(4) a savings bank, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(5) a savings association, organized or reorganized under
Indiana law, the law of another state (as defined in
IC 28-2-17-19), or United States law;
(6) a bank of discount and deposit, organized or reorganized
under the law of another state (as defined in IC 28-2-17-19) or
United States law;
(7) an industrial loan and investment company, organized or
reorganized under Indiana law, the law of another state (as
defined 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, the
law of another state (as defined in IC 28-2-17-19), or United
States law. As added by P.L.81-2001, SEC.1.
IC 28-1 ARTICLE 1. DEPARTMENT OF FINANCIAL
INSTITUTIONS
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 The
Indiana 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 to
other 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, the
following definitions apply throughout this article:
(1) "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 this state, and includes a consumer finance institution
licensed to make supervised or regulated loans under IC 24-4.5.
(2) "Bank" or "bank or trust company" means a financial
institution organized or reorganized as a bank, bank of discount
and deposit, or trust company under the laws of this state with
the express power to receive and accept deposits of money
subject to withdrawal by check, and possessing such other
rights and powers granted by the provisions of this article in
express terms or by implication. The term "bank" or "bank or
trust company" does not include a savings association, credit
union, or industrial loan and investment company.
(3) "Domestic corporation" means a corporation formed under
the laws of this state, and "foreign corporation" means every
other corporation.
(4) "Articles of incorporation" includes both the original
articles of incorporation and any and all amendments thereto,
except where the original articles of incorporation only are
expressly referred to, and includes articles of merger and
consolidation, and, in the case of corporations organized before
July 1, 1933, articles of reorganization, and all amendments
thereto.
(5) "Incorporator" means one (1) of the signers of the original
articles of incorporation.
(6) "Subscriber" means one who subscribes for shares of stock
in a financial institution.
(7) "Shareholder" means one who is a holder of record of shares
of stock in a financial institution.
(8) "Capital stock" means the aggregate amount of the par value
of all shares of capital stock.
(9) "Capital" means the aggregate amount paid in on the shares
of capital stock of a financial institution issued and outstanding.
(10) "Capital and surplus" or "unimpaired capital and
unimpaired surplus" has the meaning set forth in 12 CFR 32.2.
(11) "Assets" includes all of the property and rights of every
kind of a financial institution, and the term "fixed assets" means
such assets as are not intended to be sold or disposed of in the
ordinary course of business.
(12) "Principal office" means that office maintained by the
financial institution in this state, the address of which is
required by the provisions of this article to be kept on file in the
office of the secretary of state.
(13) "Subscription" means any written agreement or
undertaking, accepted by a financial institution, for the purchase
of shares of capital stock in the financial institution.
(14) "Department" means the department of financial
institutions.
(15) "Member" means a member of the department of financial
institutions.
(16) "Branch" means any office, agency, or other place of
business, other than the principal office of a financial
institution, at which deposits are received, checks paid, or
money lent.
(17) "Subsidiary" means any foreign or domestic corporation or
limited liability company in which the parent bank, savings
bank, savings association, or industrial loan and investment
company had at least eighty percent (80%) ownership before
July 1, 1999, or is formed or acquired in accordance with
IC 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 whose
primary business purpose is to engage in the trust business (as
defined in IC 28-14-1-8) and the execution and administration
of fiduciary accounts as a nondepository trust company
incorporated 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 person
subject to this title if the company bears the same relationship to the
financial institution or person subject to this title as a company
described 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 financial
institutions 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 following
shall be interpreted as a reference to a savings association (as defined
in 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 financial
institution" means a financial institution that is:
(1) a commercial bank, organized or reorganized under the law
of another state (as defined in IC 28-2-17-19) or United States
law;
(2) a trust company, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(3) a credit union, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(4) a savings bank, organized or reorganized under the law of
another state (as defined in IC 28-2-17-19) or United States law;
(5) a savings association, organized or reorganized under
Indiana law, the law of another state (as defined in
IC 28-2-17-19), or United States law;
(6) a bank of discount and deposit, organized or reorganized
under the law of another state (as defined in IC 28-2-17-19) or
United States law;
(7) an industrial loan and investment company, organized or
reorganized under Indiana law, the law of another state (as
defined 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, the
law of another state (as defined in IC 28-2-17-19), or United
States law. As added by P.L.81-2001, SEC.1.
