Indiana Statutes
§ 23-6-4-18 — Deposits of funds
Indiana § 23-6-4-18
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 6PUBLIC CORPORATIONS AND ASSOCIATIONS
Ch. 4Indiana Business Development Credit Corporation Law
This text of Indiana § 23-6-4-18 (Deposits of funds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 23-6-4-18 (2026).
Text
(a)A credit corporation may deposit its funds
only in a financial institution that has been designated as a depository
by a vote of a majority of the directors of the credit corporation present
at an authorized meeting of the board of directors. However, a director
of the credit corporation who is also an officer or director of a financial
institution may not vote on a proposal to designate that financial
institution as a depository and may not be counted as being present
when a vote on such a proposal is taken.
(b)A credit corporation may not receive money on deposit.
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Legislative History
As added by P.L.236-1985, SEC.1.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-6-4-18, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-6-4-18.