§ 28-12-11-1 — Requirements for corporations organized or reorganized under this title

Indiana § 28-12-11-1

• Jurisdiction: Indiana
• Art. 12: FORMATION OF BANKS, TRUST COMPANIES,
• Ch. 11: Capital Requirements for Corporations

Text

(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.

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.