§ 28-6.1-7-13 — Paying interest and expenses

Indiana § 28-6.1-7-13

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 7: Powers of a Savings Bank Subject to the Rules of the

Text

A savings bank may not pay:
(1) interest contracted for with a depositor; or
(2) other expenses incurred in operating the business of the
savings bank;
except from current earnings or undivided profits without the approval
of the department.

Legislative History

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