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Indiana Code Title 28. Financial Institutions § 28-2-13-22.6

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

Sec. 22.6. (a) As used in this chapter, “school” means:

(1) an elementary school (as defined in IC 20-18-2-4);  or

(2) a secondary school (as defined in IC 20-18-2-18).

The term includes a public school (as defined in IC 20-18-2-15) or a nonpublic school (as defined in IC 20-18-2-12).

(b) A state bank is entitled to establish an intermittent facility on the premises of a school in Indiana for the purpose of offering limited account services as an educational tool for students.

(c) The services that may be offered at an intermittent facility established under this section include:

(1) the opening of accounts;

(2) the acceptance of deposits;  and

(3) other services determined by the department.

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

(1) obtain the written permission of:

(A) the governing body of the school corporation, for a public school;  or

(B) the equivalent authority for a nonpublic school;

for the establishment and operation of the facility on the premises of the school;  and

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

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

(1) be in the form;  and

(2) contain the information;

prescribed by the department.

(f) An intermittent facility operated by a state bank under this section:

(1) may be operated only during the school 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 § 28-2-13-22.6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-2-13-22-6/

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