Indiana § 28-1-13-8 Loans on security of own shares; acquisition of shares; disposition

Indiana Statutes

§ 28-1-13-8 — Loans on security of own shares; acquisition of shares; disposition

Indiana § 28-1-13-8

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 13Loans and Investments of Banks and Trust Companies

This text of Indiana § 28-1-13-8 (Loans on security of own shares; acquisition of shares; disposition) 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 § 28-1-13-8 (2026).

Text

No bank or trust company shall make any loan
or discount on the security of the shares of its own capital stock, nor be
the purchaser or holder of any such shares, unless such security or
purchase shall be necessary to prevent loss under a debt previously
contracted in good faith; and stock so purchased or acquired shall,
within six (6) months from the time of its purchase, be sold or disposed
of at public or private sale, unless otherwise ordered by the department.
Formerly: Acts 1933, c.40, s.202.

Free access — add to your briefcase to read the full text and ask questions with AI

No bank or trust company shall make any loan
or discount on the security of the shares of its own capital stock, nor be
the purchaser or holder of any such shares, unless such security or
purchase shall be necessary to prevent loss under a debt previously
contracted in good faith; and stock so purchased or acquired shall,
within six (6) months from the time of its purchase, be sold or disposed
of at public or private sale, unless otherwise ordered by the department.
Formerly: Acts 1933, c.40, s.202.