§ 28-5-3-1 — Purchase of certificates of investment or indebtedness; no age restriction

Indiana § 28-5-3-1

• Jurisdiction: Indiana
• Art. 5: INDUSTRIAL LOAN AND INVESTMENT
• Ch. 3: Minors

Text

All persons, regardless of age, may become
purchasers of instalment or fully paid certificates of investment or
indebtedness issued by any industrial loan and investment company
organized under the laws of this state. When any such certificate of
investment or indebtedness is purchased by or in the name of a person
under the age of eighteen (18) years any such certificate of investment
or indebtedness or interest credited in respect thereto may be paid to,
redeemed or withdrawn by such person by check, endorsement receipt
or other written instrument, which check, endorsement receipt or other
instrument in writing shall constitute a receipt or acquittance, if the
same is signed by such person, and shall be a valid release and
discharge to the industrial loan and investment company for all
payments, redemptions or withdrawals so made to the same extent as
if such person were eighteen (18) years of age.
Formerly: Acts 1953, c.46, s.1; Acts 1973, P.L.280,
SEC.9.