Indiana § 28-13-16-7 Subsidiaries subject to examination

Indiana Statutes

§ 28-13-16-7 — Subsidiaries subject to examination

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 16 Financial Institution Subsidiaries

(a)Each qualifying subsidiary and nonqualifying subsidiary is subject to examination by the department or the appropriate federal banking supervisory authorities.

(b)If, upon examination, the department determines that a qualifying subsidiary or a nonqualifying subsidiary is operating in violation of law, regulation, or written condition or in an unsafe or unsound manner or otherwise threatens the safety and soundness of the financial institution, the department may direct the financial institution or subsidiary to take appropriate remedial action, which may include requiring the financial institution to divest or liquidate the subsidiary or discontinue specified activities.

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(a) Each qualifying subsidiary and
nonqualifying subsidiary is subject to examination by the department
or the appropriate federal banking supervisory authorities.
(b) If, upon examination, the department determines that a
qualifying subsidiary or a nonqualifying subsidiary is operating in
violation of law, regulation, or written condition or in an unsafe or
unsound manner or otherwise threatens the safety and soundness of the
financial institution, the department may direct the financial institution
or subsidiary to take appropriate remedial action, which may include
requiring the financial institution to divest or liquidate the subsidiary
or discontinue specified activities.

Indiana § 28-13-16-7 (Subsidiaries subject to examination) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.