§ 28-1-23-4 — Trust business of national banks; duty to furnish information concerning obligation secured by real estate; noncompliance

(a) Any national bank located within this state
may accept and execute trusts of any kind which may be committed or
transferred to it, subject to the same restrictions as are imposed on state
banks or trust companies under IC 28-1-11 through IC 28-1-20.
(b) Any financial institution acting as trustee, mortgagee, or in any
capacity under any mortgage or stock agreement, wherein and by virtue
of which notes, bonds, preferred stock or other obligations, secured by
real estate, have been sold or rediscounted by such financial institution
shall, upon demand of the owner of such real estate or upon demand of
any holder of any such note, bond, preferred stock or other obligation
for information concerning such mortgage, note, bond, preferred stock
or other obligation, immediately furnish all such information to the
owner or holder of such bond, note, preferred stock or other obligation
or to the owner of such mortgaged real estate.
(c) A person who fails to comply with this section commits a Class
C infraction.
Formerly: Acts 1933, c.40, s.354. As amended by Acts 1978,
P.L.2, SEC.2813.