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Indiana Code Title 28. Financial Institutions § 28-2-13-22.5

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

Sec. 22.5. (a) A state bank is entitled to establish a temporary facility on the premises of an accredited college or university in Indiana for the purpose of offering limited account services.

(b) The services that may be offered at a temporary facility established under this section include:

(1) the opening of accounts;

(2) the acceptance of deposits; and

(3) other services determined by the department.

(c) To establish a temporary facility under this section, a state bank is not required to submit an application to the department. However, before establishing a temporary facility under this section, a state bank must:

(1) obtain the written permission of the college or university for the establishment and operation of the facility on the premises of the college or university; and

(2) notify the department in writing of the intention of the state bank to establish the temporary facility.

(d) A written notice provided to the department under subsection (c)(2) must:

(1) be in the form; and

(2) contain the information;

prescribed by the department.

(e) A temporary facility operated by a state bank under this section:

(1) may be operated only:

(A) during registration periods of the college or university; and

(B) for an additional period that may not exceed seven (7) days during a calendar year; and

(2) must meet all other requirements of state law applying to state banks.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-2-13-22.5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-2-13-22-5/

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