Indiana § 28-1-18.2-1 "Affiliate" defined; scope of term

Indiana Statutes

§ 28-1-18.2-1 — "Affiliate" defined; scope of term

Indiana § 28-1-18.2-1

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 18.2Examination of Affiliates

This text of Indiana § 28-1-18.2-1 ("Affiliate" defined; scope of term) 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 § 28-1-18.2-1 (2026).

Text

(a)As used in this chapter, "affiliate" means any of the following:

(1)Any company that controls a bank and any other company that is controlled by the company that controls a bank.

(2)A bank subsidiary of a bank.

(3)Any company:

(A)that is controlled directly or indirectly, by a trust or otherwise, by or for the benefit of shareholders who beneficially or otherwise control, directly or indirectly, by trust or otherwise, the bank or any company that controls the bank; or

(B)in which a majority of its directors or trustees constitute a majority of the persons holding any such office with a bank or any company that controls the bank;

(4)Any:

(A)company, including a real estate investment trust, that is sponsored and advised on a contractual basis by the bank or any subsidiary or affi

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(a) As used in this chapter, "affiliate" means
any of the following:
(1) Any company that controls a bank and any other company that
is controlled by the company that controls a bank.
(2) A bank subsidiary of a bank.
(3) Any company:
(A) that is controlled directly or indirectly, by a trust or
otherwise, by or for the benefit of shareholders who beneficially
or otherwise control, directly or indirectly, by trust or otherwise,
the bank or any company that controls the bank; or
(B) in which a majority of its directors or trustees constitute a
majority of the persons holding any such office with a bank or
any company that controls the bank;
(4) Any:
(A) company, including a real estate investment trust, that is
sponsored and advised on a contractual basis by the bank or any
subsidiary or affiliate of the bank; or
(B) investment company with respect to which a bank or any
affiliate of a bank is an investment advisor (as defined in
section 2(a)(20) of the Investment Company Act of 1940 (15
U.S.C. 80a)).
(5) Any company that the department determines by regulation or
order to have a relationship with the bank or any subsidiary or
affiliate of the bank, such that covered transactions by the bank or
its subsidiary with that company may be affected by the
relationship to the detriment of the bank or its subsidiary.
(b) The term "affiliate" does not include the following:
(1) Any company, other than a bank, that is a subsidiary of a bank,
unless a determination is made under section 1(a)(5) of this
chapter not to exclude such subsidiary company from the
definition of affiliate.
(2) Any company engaged solely in holding the premises of the
bank.
(3) Any company engaged solely in conducting a safe deposit
business.
(4) Any company engaged solely in holding obligations of the
United States or its agencies or obligations fully guaranteed by the
United States or its agencies as to principal and interest.
(5) Any company where control results from the exercise of rights
arising out of a bona fide debt previously contracted, but only for
the period of time specifically authorized under applicable state
or federal law or regulation, or in the absence of such law or
regulation, for a period of two (2) years from the date of the
exercise of such rights or the effective date of the act, whichever
date is later, subject, upon application, to authorization by the
department for good cause shown of extensions in the aggregate
shall not exceed three (3) years.