IC 28-1-23
Chapter 23. Additional Provisions Pertaining to Financial
Institutions
IC 28-1-23-1 Fees payable to secretary of state; fee on basis of capital stock of
credit union
Sec. 1. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state and under the laws of any other state shall be the same as the
fees prescribed in chapter 219 of the Acts of the general assembly of
1929, except that the fee imposed on the basis of the capital stock of
any credit union shall not exceed the sum of one dollar ($1.00) for
each original application and one dollar ($1.00) for each additional
application for shares irrespective of the number of shares to be
authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352.)
IC 28-1-23-2 Fees payable to secretary of state; fee on basis of capital stock of
building and loan association or savings and loan association
Sec. 2. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state or under the laws of any other state shall be the same as the fees
prescribed in IC 23-1-18, except that the fee imposed on the basis of
the capital stock of any savings association shall be the sum of one
dollar ($1) for each original application and one dollar ($1) for each
additional application for shares, irrespective of the number of shares
to be authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352a; Acts 1965, c.22, s.1.) As
amended by P.L.263-1985, SEC.97; P.L.149-1986, SEC.63;
P.L.79-1998, SEC.60.
IC 28-1-23-3
Repealed
(Repealed by P.L.11-1998, SEC.24.)
IC 28-1-23-4 Trust business of national banks; duty to furnish information
concerning obligation secured by real estate; noncompliance
Sec. 4. (a) Any national bank located within this state may accept
and execute trusts of any kind which may be committed or
transferred to it, subject to the same restrictions as are imposed on
state banks or trust companies under IC 28-1-11 through IC 28-1-20.
(b) Any financial institution acting as trustee, mortgagee, or in any
capacity under any mortgage or stock agreement, wherein and by
virtue of which notes, bonds, preferred stock or other obligations,
secured by real estate, have been sold or rediscounted by such
financial institution shall, upon demand of the owner of such real
estate or upon demand of any holder of any such note, bond,
preferred stock or other obligation for information concerning such
mortgage, note, bond, preferred stock or other obligation,
immediately furnish all such information to the owner or holder of
such bond, note, preferred stock or other obligation or to the owner
of such mortgaged real estate.
(c) A person who fails to comply with this section commits a
Class C infraction. (Formerly: Acts 1933, c.40, s.354.) As amended by Acts 1978, P.L.2,
SEC.2813.
IC 28-1-23-5 Execution of verified account, report, or other paper
Sec. 5. Wherever any provision of this article requires that there
shall be filed any verified account, report, or other paper by any
person, firm, limited liability company, or corporation, such account,
report, or other paper shall be executed by the person or persons
filing such account, report, or other paper or by the president or such
other officer as may be designated by the board of directors of any
corporation filing such account, report, or other paper, and the truth
of the matters therein stated shall be sworn to under oath by such
person or by such president or other officer before a notary public or
other officer duly qualified to administer oaths. (Formerly: Acts 1933, c.40, s.355.) As amended by P.L.263-1985,
SEC.99; P.L.8-1993, SEC.444.
IC 28-1-23-6 Restrictions on incorporation and organization
Sec. 6. (a) Except as provided in subsection (b), a mutual savings
bank or a mortgage guarantee company may not be incorporated or
organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and
privileges under IC 28-6.1 only by a mutual bank conversion under
IC 28-1-21.7. (Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41.) As
amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8;
P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
IC 28-1-23-7 Violations
Sec. 7. A person who recklessly violates a provision of chapters
1 through 23 of this article for the violation of which a penalty is not
otherwise provided commits a Class B misdemeanor. (Formerly: Acts 1933, c.40, s.357.) As amended by Acts 1978, P.L.2,
SEC.2814.
IC 28-1-23-8
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-9
Repealed
(Repealed by P.L.1-1989, SEC.75.)
IC 28-1-23-10
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-11
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-12
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-13
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-14
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-15
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-16 Withdrawal of deposits
Sec. 16. All persons, regardless of age, may become depositors in
a depository financial institution (as defined in IC 28-1-1-6) and shall
be subject to the same duties and liabilities respecting their deposits.
Whenever a deposit is accepted by a depository financial institution
in the name of any person, regardless of age, the deposit may be
withdrawn by the depositor by any of the following methods:
(1) Check or other instrument in writing. The check or other
instrument in writing constitutes a receipt or acquittance if it is
signed by the depositor, and constitutes a valid release and
discharge to the depository financial institution for all payments
so made.
(2) Electronic means through:
(A) preauthorized direct withdrawal;
(B) an automated teller machine;
(C) a debit card;
(D) a transfer by telephone;
(E) a network, including the Internet; or
(F) any:
(i) electronic terminal;
(ii) computer;
(iii) magnetic tape; or
(iv) other electronic means.
However, this section may not be construed to affect the rights,
liabilities, or responsibilities of participants in an electronic fund
transfer under the federal Electronic Fund Transfer Act (15 U.S.C.
1693 et seq.). As added by P.L.81-2001, SEC.3.
IC 28-1-23
Chapter 23. Additional Provisions Pertaining to Financial
Institutions
IC 28-1-23-1 Fees payable to secretary of state; fee on basis of capital stock of
credit union
Sec. 1. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state and under the laws of any other state shall be the same as the
fees prescribed in chapter 219 of the Acts of the general assembly of
1929, except that the fee imposed on the basis of the capital stock of
any credit union shall not exceed the sum of one dollar ($1.00) for
each original application and one dollar ($1.00) for each additional
application for shares irrespective of the number of shares to be
authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352.)
IC 28-1-23-2 Fees payable to secretary of state; fee on basis of capital stock of
building and loan association or savings and loan association
Sec. 2. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state or under the laws of any other state shall be the same as the fees
prescribed in IC 23-1-18, except that the fee imposed on the basis of
the capital stock of any savings association shall be the sum of one
dollar ($1) for each original application and one dollar ($1) for each
additional application for shares, irrespective of the number of shares
to be authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352a; Acts 1965, c.22, s.1.) As
amended by P.L.263-1985, SEC.97; P.L.149-1986, SEC.63;
P.L.79-1998, SEC.60.
IC 28-1-23-3
Repealed
(Repealed by P.L.11-1998, SEC.24.)
IC 28-1-23-4 Trust business of national banks; duty to furnish information
concerning obligation secured by real estate; noncompliance
Sec. 4. (a) Any national bank located within this state may accept
and execute trusts of any kind which may be committed or
transferred to it, subject to the same restrictions as are imposed on
state banks or trust companies under IC 28-1-11 through IC 28-1-20.
(b) Any financial institution acting as trustee, mortgagee, or in any
capacity under any mortgage or stock agreement, wherein and by
virtue of which notes, bonds, preferred stock or other obligations,
secured by real estate, have been sold or rediscounted by such
financial institution shall, upon demand of the owner of such real
estate or upon demand of any holder of any such note, bond,
preferred stock or other obligation for information concerning such
mortgage, note, bond, preferred stock or other obligation,
immediately furnish all such information to the owner or holder of
such bond, note, preferred stock or other obligation or to the owner
of such mortgaged real estate.
(c) A person who fails to comply with this section commits a
Class C infraction. (Formerly: Acts 1933, c.40, s.354.) As amended by Acts 1978, P.L.2,
SEC.2813.
IC 28-1-23-5 Execution of verified account, report, or other paper
Sec. 5. Wherever any provision of this article requires that there
shall be filed any verified account, report, or other paper by any
person, firm, limited liability company, or corporation, such account,
report, or other paper shall be executed by the person or persons
filing such account, report, or other paper or by the president or such
other officer as may be designated by the board of directors of any
corporation filing such account, report, or other paper, and the truth
of the matters therein stated shall be sworn to under oath by such
person or by such president or other officer before a notary public or
other officer duly qualified to administer oaths. (Formerly: Acts 1933, c.40, s.355.) As amended by P.L.263-1985,
SEC.99; P.L.8-1993, SEC.444.
IC 28-1-23-6 Restrictions on incorporation and organization
Sec. 6. (a) Except as provided in subsection (b), a mutual savings
bank or a mortgage guarantee company may not be incorporated or
organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and
privileges under IC 28-6.1 only by a mutual bank conversion under
IC 28-1-21.7. (Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41.) As
amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8;
P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
IC 28-1-23-7 Violations
Sec. 7. A person who recklessly violates a provision of chapters
1 through 23 of this article for the violation of which a penalty is not
otherwise provided commits a Class B misdemeanor. (Formerly: Acts 1933, c.40, s.357.) As amended by Acts 1978, P.L.2,
SEC.2814.
IC 28-1-23-8
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-9
Repealed
(Repealed by P.L.1-1989, SEC.75.)
IC 28-1-23-10
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-11
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-12
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-13
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-14
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-15
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-16 Withdrawal of deposits
Sec. 16. All persons, regardless of age, may become depositors in
a depository financial institution (as defined in IC 28-1-1-6) and shall
be subject to the same duties and liabilities respecting their deposits.
Whenever a deposit is accepted by a depository financial institution
in the name of any person, regardless of age, the deposit may be
withdrawn by the depositor by any of the following methods:
(1) Check or other instrument in writing. The check or other
instrument in writing constitutes a receipt or acquittance if it is
signed by the depositor, and constitutes a valid release and
discharge to the depository financial institution for all payments
so made.
(2) Electronic means through:
(A) preauthorized direct withdrawal;
(B) an automated teller machine;
(C) a debit card;
(D) a transfer by telephone;
(E) a network, including the Internet; or
(F) any:
(i) electronic terminal;
(ii) computer;
(iii) magnetic tape; or
(iv) other electronic means.
However, this section may not be construed to affect the rights,
liabilities, or responsibilities of participants in an electronic fund
transfer under the federal Electronic Fund Transfer Act (15 U.S.C.
1693 et seq.). As added by P.L.81-2001, SEC.3.
IC 28-1-23
Chapter 23. Additional Provisions Pertaining to Financial
Institutions
IC 28-1-23-1 Fees payable to secretary of state; fee on basis of capital stock of
credit union
Sec. 1. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state and under the laws of any other state shall be the same as the
fees prescribed in chapter 219 of the Acts of the general assembly of
1929, except that the fee imposed on the basis of the capital stock of
any credit union shall not exceed the sum of one dollar ($1.00) for
each original application and one dollar ($1.00) for each additional
application for shares irrespective of the number of shares to be
authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352.)
IC 28-1-23-2 Fees payable to secretary of state; fee on basis of capital stock of
building and loan association or savings and loan association
Sec. 2. The fees payable to the secretary of state by financial
institutions which are organized or reorganized under the laws of this
state or under the laws of any other state shall be the same as the fees
prescribed in IC 23-1-18, except that the fee imposed on the basis of
the capital stock of any savings association shall be the sum of one
dollar ($1) for each original application and one dollar ($1) for each
additional application for shares, irrespective of the number of shares
to be authorized by such application and issued thereunder. (Formerly: Acts 1933, c.40, s.352a; Acts 1965, c.22, s.1.) As
amended by P.L.263-1985, SEC.97; P.L.149-1986, SEC.63;
P.L.79-1998, SEC.60.
IC 28-1-23-3
Repealed
(Repealed by P.L.11-1998, SEC.24.)
IC 28-1-23-4 Trust business of national banks; duty to furnish information
concerning obligation secured by real estate; noncompliance
Sec. 4. (a) Any national bank located within this state may accept
and execute trusts of any kind which may be committed or
transferred to it, subject to the same restrictions as are imposed on
state banks or trust companies under IC 28-1-11 through IC 28-1-20.
(b) Any financial institution acting as trustee, mortgagee, or in any
capacity under any mortgage or stock agreement, wherein and by
virtue of which notes, bonds, preferred stock or other obligations,
secured by real estate, have been sold or rediscounted by such
financial institution shall, upon demand of the owner of such real
estate or upon demand of any holder of any such note, bond,
preferred stock or other obligation for information concerning such
mortgage, note, bond, preferred stock or other obligation,
immediately furnish all such information to the owner or holder of
such bond, note, preferred stock or other obligation or to the owner
of such mortgaged real estate.
(c) A person who fails to comply with this section commits a
Class C infraction. (Formerly: Acts 1933, c.40, s.354.) As amended by Acts 1978, P.L.2,
SEC.2813.
IC 28-1-23-5 Execution of verified account, report, or other paper
Sec. 5. Wherever any provision of this article requires that there
shall be filed any verified account, report, or other paper by any
person, firm, limited liability company, or corporation, such account,
report, or other paper shall be executed by the person or persons
filing such account, report, or other paper or by the president or such
other officer as may be designated by the board of directors of any
corporation filing such account, report, or other paper, and the truth
of the matters therein stated shall be sworn to under oath by such
person or by such president or other officer before a notary public or
other officer duly qualified to administer oaths. (Formerly: Acts 1933, c.40, s.355.) As amended by P.L.263-1985,
SEC.99; P.L.8-1993, SEC.444.
IC 28-1-23-6 Restrictions on incorporation and organization
Sec. 6. (a) Except as provided in subsection (b), a mutual savings
bank or a mortgage guarantee company may not be incorporated or
organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and
privileges under IC 28-6.1 only by a mutual bank conversion under
IC 28-1-21.7. (Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41.) As
amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8;
P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
IC 28-1-23-7 Violations
Sec. 7. A person who recklessly violates a provision of chapters
1 through 23 of this article for the violation of which a penalty is not
otherwise provided commits a Class B misdemeanor. (Formerly: Acts 1933, c.40, s.357.) As amended by Acts 1978, P.L.2,
SEC.2814.
IC 28-1-23-8
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-9
Repealed
(Repealed by P.L.1-1989, SEC.75.)
IC 28-1-23-10
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-11
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-12
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-13
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-14
Repealed
(Repealed by P.L.42-1993, SEC.103.)
IC 28-1-23-15
Repealed
(Repealed by Acts 1978, P.L.2, SEC.2824.)
IC 28-1-23-16 Withdrawal of deposits
Sec. 16. All persons, regardless of age, may become depositors in
a depository financial institution (as defined in IC 28-1-1-6) and shall
be subject to the same duties and liabilities respecting their deposits.
Whenever a deposit is accepted by a depository financial institution
in the name of any person, regardless of age, the deposit may be
withdrawn by the depositor by any of the following methods:
(1) Check or other instrument in writing. The check or other
instrument in writing constitutes a receipt or acquittance if it is
signed by the depositor, and constitutes a valid release and
discharge to the depository financial institution for all payments
so made.
(2) Electronic means through:
(A) preauthorized direct withdrawal;
(B) an automated teller machine;
(C) a debit card;
(D) a transfer by telephone;
(E) a network, including the Internet; or
(F) any:
(i) electronic terminal;
(ii) computer;
(iii) magnetic tape; or
(iv) other electronic means.
However, this section may not be construed to affect the rights,
liabilities, or responsibilities of participants in an electronic fund
transfer under the federal Electronic Fund Transfer Act (15 U.S.C.
1693 et seq.). As added by P.L.81-2001, SEC.3.
