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Indiana Code Title 28. Financial Institutions § 28-12-11-1

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1. (a) This section applies only to a corporation that is organized or reorganized under Indiana law and is any of the following:

(1) A bank and trust company.

(2) A bank.

(3) A savings bank.

(4) A trust company.

(5) A savings association.

(6) An industrial loan and investment company.

(7) A credit union.

(8) A corporate fiduciary.

(9) A bank of discount and deposit.

(10) A loan and trust and safe deposit company.

(b) The department shall determine the minimum amount of the capital of a corporation organized or reorganized under this title after giving consideration to:

(1) the potential deposit liability to be anticipated, in the case of a proposed new corporation;  or

(2) the existing deposit liability, in the case of a corporation to be reorganized.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-12-11-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-12-11-1/

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