Indiana Statutes
§ 28-14-4-5 — Maximum limit of investment in real estate and buildings necessary for convenient transaction of business
The sum that a corporate fiduciary invests in
real estate and buildings used for the convenient transaction of its
business shall not exceed fifty percent (50%) of the capital and surplus
of the corporate fiduciary, exclusive of undivided profits of the
corporate fiduciary, unless the director gives approval in writing to
investments exceeding the limit set forth in this subsection.
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Indiana § 28-14-4-5 (Maximum limit of investment in real estate and buildings necessary for convenient transaction of business) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.262-1995, SEC.90.
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