Indiana § 28-1-9-12 Authority to borrow

Indiana Statutes

§ 28-1-9-12 — Authority to borrow

Indiana § 28-1-9-12

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 9Voluntary Dissolution of Banks, Trust Companies, and

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Bluebook

Ind. Code § 28-1-9-12 (2026).

Text

After the authorization of the dissolution of
such corporation, the board of directors is hereby authorized to borrow
money and to secure the payment thereof, in the same manner and to
the extent that a receiver may borrow money and secure the payment
thereof when any financial institution is in involuntary liquidation, as
provided in IC 28-1-3.1-6.
Formerly: Acts 1933, c.40, s.153. As amended by P.L.263-1985,
SEC.46.

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After the authorization of the dissolution of
such corporation, the board of directors is hereby authorized to borrow
money and to secure the payment thereof, in the same manner and to
the extent that a receiver may borrow money and secure the payment
thereof when any financial institution is in involuntary liquidation, as
provided in IC 28-1-3.1-6.
Formerly: Acts 1933, c.40, s.153. As amended by P.L.263-1985,
SEC.46.