Indiana Code Title 28. Financial Institutions § 28-6.2-5-2

Sec. 2. (a) A mutual holding company, to collateralize an obligation of its own or of any of its subsidiaries or affiliates, may pledge any stock that comprises a minority interest in any subsidiary or any stock that the mutual holding company holds in the following:

(b) A pledge of stock that is not described in subsection (a) may not be made without the prior written approval of the director.