Indiana § 28-6.1-8-4 Lending deposited money

Indiana Statutes

§ 28-6.1-8-4 — Lending deposited money

Indiana § 28-6.1-8-4

Art. 6.1SAVINGS BANKS

Ch. 8Investment and Loan Powers of Savings Banks

This text of Indiana § 28-6.1-8-4 (Lending deposited money) 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 § 28-6.1-8-4 (2026).

Text

(a)A savings bank may do the following:

(1)Lend the money deposited in the savings bank upon:

(A)individual credit;

(B)the security of comakers or personal endorsement;

(C)the mortgage or pledge of personal property, either tangible or intangible; or

(D)the pledge of choses in action.

(2)Discount, purchase, or otherwise acquire retail installment sales contracts, notes, bills of exchange, or acceptance or other choses in action.

(b)The savings bank may contract for and receive on loans and discounts described in this subsection the highest rate of interest allowed by Indiana law to be contracted for and received by individuals.

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(a) A savings bank may do the following:
(1) Lend the money deposited in the savings bank upon:
(A) individual credit;
(B) the security of comakers or personal endorsement;
(C) the mortgage or pledge of personal property, either tangible
or intangible; or
(D) the pledge of choses in action.
(2) Discount, purchase, or otherwise acquire retail installment
sales contracts, notes, bills of exchange, or acceptance or other
choses in action.
(b) The savings bank may contract for and receive on loans and
discounts described in this subsection the highest rate of interest
allowed by Indiana law to be contracted for and received by
individuals.