Sec. 1. (a) As used in this chapter, “affiliate” means any of the following: (1) Any company that controls a bank and any other company that is controlled by the company that controls a bank. (2) A bank subsidiary of a bank. (3) Any company: (A) that is controlled directly or indirectly, by a trust […]
Sec. 1.1. As used in this chapter, “company” means a corporation, limited liability company, partnership, business trust, association, or similar organization. Unless specifically excluded, the term includes a bank. As added by P.L.14-1992, SEC.95. Amended by P.L.8-1993, SEC.441.
Sec. 1.2. As used in this chapter, “subsidiary” with respect to a specified company means a company that is controlled by the specified company. As added by P.L.14-1992, SEC.96.
Sec. 1.3. (a) A company or shareholder is considered to have control over another company if: (1) the company or shareholder, directly or indirectly, or acting through at least one (1) other person owns, controls, or has power to vote at least twenty-five percent (25%) of any class of voting securities of the other company; […]
Sec. 2. (a) Within thirty (30) days after receipt of a request from the department, a bank or trust company shall furnish to the department a statement of financial condition of the affiliates identified in the request. (b) The statements furnished under subsection (a) must: (1) be dated at least six (6) months apart; and […]
Sec. 3. (a) In making the examination of a bank or trust company, the department shall include an examination of the affairs of all the bank or trust company’s affiliates necessary to disclose fully the relations between the bank or trust company and its affiliates, and the effect of those relations upon the affairs of […]
Sec. 4. (a) In making the examination of an affiliate of a bank or trust company, the department has the same powers with respect to the examination as are conferred upon it in the examination of the affairs of a bank or trust company by IC 28-11-3. (b) The expenses incurred in making examinations of […]
Sec. 5. (a) For purposes of this section, a bank or trust company that is not a member of the Federal Reserve System is subject to Sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c or 371c-1) and Federal Reserve Regulation W (12 CFR 223) to the same extent and in the […]
