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Indiana Code Title 28. Financial Institutions § 28-6.1-8-4

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

Sec. 4. (a) A savings bank may do the following:

(1) Lend the money deposited in the savings bank upon:

(A) individual credit;

(B) the security of comakers or personal endorsement;

(C) the mortgage or pledge of personal property, either tangible or intangible;  or

(D) the pledge of choses in action.

(2) Discount, purchase, or otherwise acquire retail installment sales contracts, notes, bills of exchange, or acceptance or other choses in action.

(b) The savings bank may contract for and receive on loans and discounts described in this subsection the highest rate of interest allowed by Indiana law to be contracted for and received by individuals.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-6.1-8-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-6-1-8-4/

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