§ 28-12-4-1 — Accompanying terms

Indiana § 28-12-4-1

• Jurisdiction: Indiana
• Art. 12: FORMATION OF BANKS, TRUST COMPANIES,
• Ch. 4: Submission of Articles of Incorporation

Text

The articles of incorporation submitted to the
department for approval must be accompanied by the following:
(1) An application in the form prescribed by the department and
containing such information as the department may require.
(2) The deposit of money in an amount determined by the
department to be sufficient to defray the expenses of the
department in performing its duties under this chapter.
(3) Evidence satisfactory to the department that the corporation
has or will have capital in at least the amount of the capital stated
in the articles of incorporation.
(4) Evidence satisfactory to the department that the corporation is
applying for deposit insurance from the Federal Deposit Insurance
Corporation or its successor in interest, unless the corporation is
being organized solely as a corporate fiduciary.
(5) Evidence satisfactory to the department that the corporation
has or will have adequate insurance coverage on the date the
corporation begins operation.

Legislative History

As added by P.L.14-1992, SEC.162. Amended by P.L.262-1995, SEC.82.