§ 28-6.1-7-5 — Extending credit to state agencies

Indiana § 28-6.1-7-5

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

Text

(a) A savings bank may extend credit to any
state agency, with the approval of the department, notwithstanding any
other provisions or limitations of IC 28-1.
(b) An Indiana law:
(1) prescribing the nature, amount, or form of security;
(2) requiring security upon which loans or advances of credit may
be made;
(3) prescribing or limiting interest rates upon loans or advances
of credit; or
(4) prescribing or limiting the period for which loans or advances
of credit may be made;
does not apply to loans or advances of credit made under this section.

Legislative History

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