(a)To the extent consistent with subsection
(b), the department may make the examinations of any branch
established and maintained in Indiana pursuant to this chapter by an
out-of-state state bank as the department may consider necessary to
determine whether the branch is being operated in compliance with the
laws of Indiana and in accordance with safe and sound banking
practices. The provisions of IC 28-11-3 shall apply to such
examinations.
(b)The department may enter into cooperative, coordinating, and
information-sharing agreements with any organization enumerated in
IC 28-11-3-3 with respect to the periodic examination or other
supervision of:
(1)any branch in Indiana of an out-of-state state bank; or
(2)any branch of an Indiana state bank in any host state;
and the department may
Free access — add to your briefcase to read the full text and ask questions with AI
(a) To the extent consistent with subsection
(b), the department may make the examinations of any branch
established and maintained in Indiana pursuant to this chapter by an
out-of-state state bank as the department may consider necessary to
determine whether the branch is being operated in compliance with the
laws of Indiana and in accordance with safe and sound banking
practices. The provisions of IC 28-11-3 shall apply to such
examinations.
(b) The department may enter into cooperative, coordinating, and
information-sharing agreements with any organization enumerated in
IC 28-11-3-3 with respect to the periodic examination or other
supervision of:
(1) any branch in Indiana of an out-of-state state bank; or
(2) any branch of an Indiana state bank in any host state;
and the department may accept the organization's reports of
examination and reports of investigation instead of conducting its own
examinations or investigations.
(c) The department may enter into agreements with any financial
institution supervisory agency that has concurrent jurisdiction over an
Indiana state bank or an out-of-state state bank operating a branch in
Indiana pursuant to this chapter to:
(1) engage the services of such agency's examiners at a reasonable
rate of compensation; or
(2) provide the services of the department's examiners to such
agency at a reasonable rate of compensation.
Any such agreement shall be entered into under IC 36-1-7.
(d) The department may enter into joint examinations or joint
enforcement actions with other bank supervisory agencies having
concurrent jurisdiction over any branch established and maintained in
Indiana of an out-of-state state bank or any branch established and
maintained by an Indiana state bank in any host state. The department
may at any time take such actions independently if the department
considers the actions to be necessary or appropriate to carry out its
responsibilities under this chapter or to ensure compliance with the
laws of Indiana. In the case of an out-of-state state bank, the
department shall recognize:
(1) the exclusive authority of the home state regulator over
corporate governance matters; and
(2) the primary responsibility of the home state regulator with
respect to safety and soundness matters.
(e) Each out-of-state state bank that maintains one (1) or more
branches in Indiana is subject to the provisions of IC 28-11-3-5. The
fees may be shared with other financial institution supervisory agencies
or any organization affiliated with or representing one (1) or more bank
supervisory agencies in accordance with agreements between those
agencies and the department.
(f) For the purposes of this chapter, the provisions of IC 28-1-2-30
apply to the following:
(1) An out-of-state bank.
(2) An out-of-state savings association.
(3) An out-of-state industrial loan and investment company.