§ 28-2-13-26 — Trust office; powers; prohibited actions

Indiana § 28-2-13-26

• Jurisdiction: Indiana
• Art. 2: BANKS
• Ch. 13: Branch Banks

Text

(a) A bank, trust company, corporate
fiduciary, or savings bank organized under the laws of Indiana or the
laws of any other state or the United States may establish a trust office
to exercise its powers as a fiduciary to conduct business in any location
that is approved by the department. Before the department approves a
trust office to exercise powers as a fiduciary under this subsection, it
must determine to its satisfaction that the bank, trust company,
corporate fiduciary, or savings bank will have adequate capital, sound
management, and adequate future earnings prospects after the
establishment of the trust office.
(b) A trust office established under this section by a bank, trust
company, or savings bank shall not:
(1) receive deposits;
(2) pay checks; or
(3) lend money;
at the trust office.

Legislative History

As added by P.L.122-1994, SEC.88. Amended by P.L.262-1995, SEC.55; P.L.258-2003, SEC.7; P.L.27-2012, SEC.76.