Indiana § 28-1-18.2-4 Powers of department; assessment of expenses; penalty for refusal to
permit examination

Indiana Statutes

§ 28-1-18.2-4 — Powers of department; assessment of expenses; penalty for refusal to permit examination

Indiana § 28-1-18.2-4

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 18.2Examination of Affiliates

This text of Indiana § 28-1-18.2-4 (Powers of department; assessment of expenses; penalty for refusal to permit examination) 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 § 28-1-18.2-4 (2026).

Text

(a)In making the examination of an affiliate of a bank or trust company, the department has the same powers with respect to the examination as are conferred upon it in the examination of the affairs of a bank or trust company by IC 28-11-3.

(b)The expenses incurred in making examinations of affiliates may be assessed by the department upon the affiliates examined, in proportion to the assets or resources held by the affiliates, upon the days of examination of the various affiliates, and in the manner and at the rate as fixed and prescribed by the department under IC 28-11-3-5.

(c)If an affiliate refuses to pay expenses assessed under subsection

(b), or fails to do so within sixty (60) days after the date of the assessment, the expenses may be assessed against the affiliated bank or trus

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(a) In making the examination of an affiliate
of a bank or trust company, the department has the same powers with
respect to the examination as are conferred upon it in the examination
of the affairs of a bank or trust company by IC 28-11-3.
(b) The expenses incurred in making examinations of affiliates may
be assessed by the department upon the affiliates examined, in
proportion to the assets or resources held by the affiliates, upon the
days of examination of the various affiliates, and in the manner and at
the rate as fixed and prescribed by the department under IC 28-11-3-5.
(c) If an affiliate refuses to pay expenses assessed under subsection
(b), or fails to do so within sixty (60) days after the date of the
assessment, the expenses may be assessed against the affiliated bank
or trust company, and, when so assessed, must be paid by that bank or
trust company.
(d) If an affiliate of a bank or trust company refuses to permit the
department to make an examination, the bank or trust company with
which the affiliate is affiliated is subject to a penalty of not more than
one hundred dollars ($100) for each day that the refusal continues. The
penalty may be assessed by the department and collected in the same
manner as expenses of examination.