Indiana § 28-2-13-19 Branch de novo or branch by acquisition; approval of department
required; compliance with statutes; exemption from approval
requirements

Indiana Statutes

§ 28-2-13-19 — Branch de novo or branch by acquisition; approval of department required; compliance with statutes; exemption from approval requirements

Indiana·Art. 2 BANKS·Ch. 13 Branch Banks

(a)Subject to subsections (b) and (c), a state bank is entitled to establish one (1) or more branches de novo and one

(1)or more branches by acquisition in any location or locations within Indiana.

(b)A state bank is entitled to establish a branch de novo under this section with the written approval of the department. The location of any branch established under this section may be changed at any time to a location within Indiana when the change of location is authorized by the board of directors of the state bank and approved by the department. A state bank desiring to establish one (1) or more branches de novo under this section must file a written application in the form prescribed by the director. The department may approve or disapprove the application. Before the department approv

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(a) Subject to subsections (b) and (c), a state
bank is entitled to establish one (1) or more branches de novo and one
(1) or more branches by acquisition in any location or locations within
Indiana.
(b) A state bank is entitled to establish a branch de novo under this
section with the written approval of the department. The location of any
branch established under this section may be changed at any time to a
location within Indiana when the change of location is authorized by
the board of directors of the state bank and approved by the
department. A state bank desiring to establish one (1) or more branches
de novo under this section must file a written application in the form
prescribed by the director. The department may approve or disapprove
the application. Before the department approves the application, the
state bank must demonstrate to the satisfaction of the department that
the applicant state bank will have adequate capital, sound management,
and adequate future earnings prospects after the establishment of the
branch.
(c) The investigation of the department relative to any application
as required by this section shall be conducted without a public hearing.
(d) A branch by acquisition may be established under this section
only if done in compliance with applicable provisions of IC 28-1-7, IC 28-1-8, or IC 28-3-2.
(e) The department may establish criteria to exempt a state bank
from the approval requirements described in this section.

Indiana § 28-2-13-19 (Branch de novo or branch by acquisition; approval of department required; compliance with statutes; exemption from approval requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

As added by P.L.265-1985, SEC.3. Amended by P.L.279-1987, SEC.3; P.L.36-1987, SEC.9; P.L.33-1991, SEC.25; P.L.42-1993, SEC.61; P.L.122-1994, SEC.87; P.L.171-1996, SEC.34; P.L.192-1997, SEC.6; P.L.69-2018, SEC.50.