§ 28-6.1-3-14 — Suspension of trustees

Indiana § 28-6.1-3-14

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 3: The Board of Trustees of Savings Banks Organized,

Text

(a) The state comptroller may at any time,
by an order under the seal of the state comptroller, for due cause stated
in the order, suspend a trustee from the board.
(b) Upon the application of two-thirds (2/3) of the trustees of a
savings bank setting forth good reasons for the action in regard to a
trustee, the state comptroller shall issue the order.
(c) Upon issuing an order under this section, the state comptroller
shall send a copy of the order to each of the following:
(1) The savings bank. The order shall be entered in full in the
minutes of the savings bank.
(2) To the suspended trustee. Upon request of the trustee, the state
comptroller shall send the original order to the trustee.
(3) To the judge of the court.
(d) The judge of the court, after giving proper notice to the trustee
and an opportunity for the trustee to be heard in the trustee's defense,
may vacate or confirm the order. Confirmation of an order under this
subsection operates to remove the trustee from office.

Legislative History

As added by P.L.42-1993, SEC.72. Amended by P.L.9-2024, SEC.491.