Sec. 1. (a) Savings associations may do the following: (1) Accept deposit accounts. (2) Issue evidence of deposit account ownership. (3) Declare and distribute earnings to members. (4) Pay, in part or in full, withdrawal requests of deposit accounts. (5) Subject to the provisions and restrictions of 12 U.S.C. 84 and 12 CFR 32: (A) […]
Sec. 1.5. (a) Except for interest at the legal rate on a loan or advancement, a savings association may not, directly or indirectly, receive a profit or commission from the sale to or purchase from an estate, a guardianship, or a trust of which the savings association is the fiduciary unless the profit or commission […]
Sec. 2. (a) As used in this section, “rights and privileges” means the power: (1) to: (A) create; (B) deliver; (C) acquire; or (D) sell; a product, a service, or an investment that is available to or offered by; or (2) to engage in mergers, consolidations, reorganizations, or other activities or to exercise other powers […]
Sec. 3. If the department denies the request of a savings association under section 2 of this chapter to exercise any rights and privileges that are granted to federal savings associations, the savings association may appeal the decision of the department to the circuit court, superior court, or probate court with jurisdiction in the county […]
