Indiana Statutes
§ 28-12-11-1 — Requirements for corporations organized or reorganized under this title
(a)This section applies only to a corporation
that is organized or reorganized under Indiana law and is any of the
following:
(1)A bank and trust company.
(2)A bank.
(3)A savings bank.
(4)A trust company.
(5)A savings association.
(6)An industrial loan and investment company.
(7)A credit union.
(8)A corporate fiduciary.
(9)A bank of discount and deposit.
(10)A loan and trust and safe deposit company.
(b)The department shall determine the minimum amount of the
capital of a corporation organized or reorganized under this title after
giving consideration to:
(1)the potential deposit liability to be anticipated, in the case of
a proposed new corporation; or
(2)the existing deposit liability, in the case of a corporation to be
reorganized.
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Legislative History
As added by P.L.42-1993, SEC.92. Amended by P.L.122-1994,
SEC.117; P.L.258-2003, SEC.24; P.L.213-2007, SEC.101;
P.L.217-2007, SEC.99.
Nearby Sections
15
§ 28-1-1-1
Short title§ 28-1-1-2
Application of article§ 28-1-1-3
Definitions§ 28-1-1-3.5
Affiliate relationship§ 28-1-1-3.7
"Emancipated youth"§ 28-1-1-3.9
"Foster youth"§ 28-1-1-4
"Fund"§ 28-1-1-5
References to savings associations§ 28-1-1-6
"Depository financial institution"§ 28-1-1-7
"Qualified youth"§ 28-1-11-11
Safe deposits and escrows