Sec. 1. The limitations imposed by this chapter do not apply to the following: (1) Direct or indirect obligations of the United States. (2) Direct obligations of a United States territory or insular possession. (3) Direct obligations of the state or a municipal corporation or taxing district in Indiana. As added by P.L.42-1993, SEC.72.
Sec. 10. (a) As used in this section, “bank” has the meaning set forth in IC 28-2-14-2. (b) As used in this section, “banker’s bank” means a bank that satisfies both of the following: (1) The stock of the bank is owned exclusively by: (A) other banks; or (B) a bank holding company, the stock […]
Sec. 11. (a) Notwithstanding any other provision of this article, a savings bank may invest in a casualty insurance company organized solely for the purpose of insuring banks, trust companies, and bank holding companies and their officers and directors from and against liabilities, including those covered by bankers’ blanket bonds and director and officer liability […]
Sec. 12. A savings bank may establish or acquire a subsidiary that engages in either of the following: (1) The sale, distribution, or underwriting of securities issued by investment companies (as defined in Section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3)). (2) The underwriting or distribution of securities backed by or […]
Sec. 13. A savings bank may establish a trading account for the purchase and resale of securities that are otherwise eligible for purchase or resale by the savings bank. The trading account must comply with the requirements established by policy or rule of the department. As added by P.L.42-1993, SEC.72.
Sec. 14. The department may define an investment security by department policy or by rule. As added by P.L.42-1993, SEC.72.
Sec. 15. A savings bank that purchases a security for its own account shall maintain sufficient records of the security to allow the security to be properly identified by the department for examination purposes. As added by P.L.176-1996, SEC.21.
Sec. 2. As used in this section, “total equity capital” means unimpaired capital stock, unimpaired surplus, unimpaired retained earnings, subordinated debt that has been approved by state or federal regulatory agencies, and one hundred percent (100%) of loan reserves. As added by P.L.42-1993, SEC.72.
Sec. 3. Except as otherwise provided in this article, a savings bank may deal in investment securities only by purchasing and selling securities without recourse, solely upon the order and for the account of customers. As added by P.L.42-1993, SEC.72.
Sec. 4. Except as otherwise provided in this article, a savings bank may not deal in investment securities for its own account. As added by P.L.42-1993, SEC.72.
Sec. 5. A savings bank may not underwrite or guarantee all or a part of an issue of securities other than obligations issued or guaranteed by or on behalf of the state, a political subdivision of the state, or an agency or instrumentality of the state or of a political subdivision. As added by P.L.42-1993, […]
Sec. 6. (a) Subject to subsection (b), a savings bank may purchase for its own account and sell investment securities under limitations and restrictions the department prescribes by regulation, rule, policy, or guidance. (b) The total amount of the investment securities of any one (1) obligor or maker, purchased or held by any savings bank […]
Sec. 7. A savings bank may purchase for its own account and sell shares of stock in federal or state chartered small business investment companies that have received a permit or license to operate under the federal Small Business Investment Act, subject to the limitations and restrictions the department prescribes by rule. As added by […]
Sec. 8. (a) Subject to subsection (b), a savings bank may purchase for its own account and sell obligations, commonly known as collateralized mortgage obligations, that are eligible for purchase and sale by national banking associations. (b) A savings bank may purchase for its own account and sell the obligations only to the extent that […]
Sec. 8.5. (a) A savings bank may not purchase for its own account any bond, note, or other evidence of indebtedness that is commonly designated as a security that is speculative in character or that has speculative characteristics. For the purposes of this subsection, a security is speculative or has speculative characteristics if at the […]
Sec. 9. (a) Except as otherwise provided by law, a savings bank may not purchase shares of stock of a corporation that is not a subsidiary of that savings bank unless the purchase is considered expedient to prevent loss from a debt previously contracted in good faith. (b) A savings bank shall sell shares of […]
