Indiana § 28-6.1-6-10 Receiving deposits of state and federal public funds

Indiana Statutes

§ 28-6.1-6-10 — Receiving deposits of state and federal public funds

Indiana § 28-6.1-6-10

Art. 6.1SAVINGS BANKS

Ch. 6General Powers of a Savings Bank

This text of Indiana § 28-6.1-6-10 (Receiving deposits of state and federal public funds) 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 § 28-6.1-6-10 (2026).

Text

(a)A savings bank may receive deposits of state and federal public funds:

(1)on the same terms and conditions;

(2)with the same rights and privileges; and

(3)subject to the same duties and obligations; as provided by law for banks of discount and deposit, trust companies, and other financial institutions.

(b)The power under subsection (a) includes the right to pledge securities or other assets for the repayment of the deposits if the pledge is permitted by applicable law or regulation.

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(a) A savings bank may receive deposits of
state and federal public funds:
(1) on the same terms and conditions;
(2) with the same rights and privileges; and
(3) subject to the same duties and obligations;
as provided by law for banks of discount and deposit, trust companies,
and other financial institutions.
(b) The power under subsection (a) includes the right to pledge
securities or other assets for the repayment of the deposits if the pledge
is permitted by applicable law or regulation.