28-6.1-11-1. Application of Chapter
Sec. 1. A savings bank may purchase and sell real property only as provided in this chapter. As added by P.L.42-1993, SEC.72.
Sec. 1. A savings bank may purchase and sell real property only as provided in this chapter. As added by P.L.42-1993, SEC.72.
Sec. 2. (a) A savings bank may purchase, hold, and convey real property as follows: (1) As necessary for the convenient transaction of the savings bank’s business as provided in IC 28-6.1-7-12. (2) Real property mortgaged to the savings bank in good faith for money loaned, or upon which the savings bank purchased a mortgage. […]
Sec. 3. (a) Except with the approval of the department, the sum invested in real property used for the convenient transaction of business may not exceed fifty percent (50%) of the unimpaired capital stock, surplus, and retained earnings of the savings bank. (b) The investment may be made in the stock of a corporation organized […]