§ 28-6.1-6-21 — Acting in fiduciary capacity

Indiana § 28-6.1-6-21

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 6: General Powers of a Savings Bank

Text

(a) Except as otherwise provided in this
article, a savings bank may act:
(1) in a fiduciary capacity permitted by this article; and
(2) as commissioner for the sale of real estate;
without bond or other security.
(b) When a savings bank is acting in a fiduciary capacity, the
savings bank may administer oaths attested by the signature of the
savings bank's secretary or cashier and the savings bank's seal in the
same fashion as an individual acting in the same capacity may
administer oaths.
(c) The court having jurisdiction of the fiduciary may require a bond
or other security at any time. Upon failure of the savings bank to give
a bond or security as required, the court may remove the savings bank
and revoke the savings bank's appointment.
(d) A savings bank may not pledge or deposit any of its assets as a
condition to the exercise of any of its powers as a fiduciary.

Legislative History

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