Indiana § 28-6.1-12-3 Branches de novo and branches by acquisition; approval of department
required; application; approval or disapproval by department; location;
savings banks organized or operating before January 1, 1993;
exemption from approval requirements

Indiana Statutes

§ 28-6.1-12-3 — Branches de novo and branches by acquisition; approval of department required; application; approval or disapproval by department; location; savings banks organized or operating before January 1, 1993; exemption from approval requirements

Indiana § 28-6.1-12-3

Art. 6.1SAVINGS BANKS

Ch. 12Branches of Savings Banks

This text of Indiana § 28-6.1-12-3 (Branches de novo and branches by acquisition; approval of department required; application; approval or disapproval by department; location; savings banks organized or operating before January 1, 1993; exemption from approval requirements) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-6.1-12-3 (2026).

Text

(a)Subject to this section, a savings 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 branch de novo may not be established under this section without the written approval of the department. A savings bank desiring to establish one (1) or more branches de novo under this section must file a written application to do so in the form, and containing the information, required by the director.

(c)The department may approve or disapprove the application. Before the department approves the application, the department shall determine to its satisfaction that the applicant savings bank will have adequate capital, sound management, and adequate future earnings prospects after the establish

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(a) Subject to this section, a savings 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 branch de novo may not be established under this section
without the written approval of the department. A savings bank
desiring to establish one (1) or more branches de novo under this
section must file a written application to do so in the form, and
containing the information, required by the director.
(c) The department may approve or disapprove the application.
Before the department approves the application, the department shall
determine to its satisfaction that the applicant savings bank will have
adequate capital, sound management, and adequate future earnings
prospects after the establishment of the branch. The investigation of the
department relative to any application as required by this section shall
be conducted without a public hearing.
(d) The location of a 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 the savings bank and approved
by the department.
(e) Except as provided in IC 28-6.1-6-23, a savings bank organized,
reorganized, or operating under IC 28-6 (before its repeal) before
January 1, 1993, may not establish a branch by acquisition.
(f) A savings bank created as a result of a conversion under IC 28-1-30 may retain all branches in existence on the date of conversion.
(g) The department may establish criteria to exempt a savings bank
from the approval requirements described in this section.