§ 28-6.1-3-4 — Qualifications of trustees

Indiana § 28-6.1-3-4

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

Text

An individual must have the following
qualifications to be a trustee:
(1) The individual must be a citizen of Indiana for at least five (5)
years before becoming a trustee.
(2) The individual must have an equity in real estate:
(A) located in the county in which the savings bank is located;
and
(B) worth at least five thousand dollars ($5,000), the value of
which is determined by two (2) individuals designated by the
court.
(3) The individual must in all respects be a suitable individual to
be entrusted with the management of a savings bank.

Legislative History

As added by P.L.42-1993, SEC.72.