28-13-17-1. “Financial Institution” Defined
Sec. 1. As used in this chapter “financial institution” has the meaning set forth in IC 28-13-16-3. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.
28-13-17-2. “Financial Subsidiary” Defined
Sec. 2. As used in this chapter, “financial subsidiary” means a foreign or domestic corporation or limited liability company that is controlled by one (1) or more financial institutions that engages in a financial subsidiary activity. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.
28-13-17-3. “Financial Subsidiary Activity” Defined
Sec. 3. As used in this chapter, “financial subsidiary activity” means: (1) an activity that has been authorized for a financial subsidiary of a national bank under 12 U.S.C. 24a and that may be conducted by a national bank only through a financial subsidiary; or (2) an activity that has been determined by the department […]
28-13-17-4. “Control” Defined
Sec. 4. As used in this chapter, “control” has the meaning set forth in IC 28-2-13-12. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.
28-13-17-5. “Hold an Interest” Defined
Sec. 5. As used in this chapter, “hold an interest” means the ownership of any equity capital of a financial subsidiary. As added by P.L.63-2001, SEC.28 and P.L.134-2001, SEC.30.
28-13-17-6. “Equity Capital” Defined
Sec. 6. As used in this chapter, “equity capital” includes, in addition to an equity investment, a debt instrument issued by a financial subsidiary, if the instrument qualifies as capital of the financial subsidiary under any federal or state law, regulation, or interpretation applicable to the financial subsidiary. As added by P.L.63-2001, SEC.28 and P.L.134-2001, […]
28-13-17-7. Interest in Financial Subsidiaries Engaged in Financial Subsidiary Activities
Sec. 7. (a) Notwithstanding any other law, but subject to the provisions of this chapter, a financial institution may control or hold an interest in a financial subsidiary that engages in financial subsidiary activities. (b) This section does not require an activity to be conducted through a financial subsidiary that is authorized to be conducted […]
28-13-17-8. Financial Subsidiary Activities Engaged in as Principal or New Financial Subsidiary Activities
Sec. 8. (a) A financial institution may not establish, control, or hold an interest of a financial subsidiary that engages in financial subsidiary activities as principal or commence any new financial subsidiary activity under this section or under 12 U.S.C. 1831w(a) unless the following occur: (1) An application has been filed with the department before […]