Indiana § 28-6.1-17-1 Grounds for seizure of business and property

Indiana Statutes

§ 28-6.1-17-1 — Grounds for seizure of business and property

Indiana § 28-6.1-17-1

Art. 6.1SAVINGS BANKS

Ch. 17Department Seizure of Business and Property of a

This text of Indiana § 28-6.1-17-1 (Grounds for seizure of business and property) 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 § 28-6.1-17-1 (2026).

Text

The department may take possession of the business and property of a savings bank if any of the following occur:

(1)The savings bank fails for thirty (30) days to pay any of its depositors as required by law.

(2)The department determines that the board or officers of the savings bank are mismanaging the savings bank's affairs.

(3)Any of the conditions described in IC 28-1-3.1-2 apply to the savings bank.

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The department may take possession of the
business and property of a savings bank if any of the following occur:
(1) The savings bank fails for thirty (30) days to pay any of its
depositors as required by law.
(2) The department determines that the board or officers of the
savings bank are mismanaging the savings bank's affairs.
(3) Any of the conditions described in IC 28-1-3.1-2 apply to the
savings bank.