Indiana § 28-6.1-9-10 Loans or discounts on security and purchase or holding of bank's own
capital stock

Indiana Statutes

§ 28-6.1-9-10 — Loans or discounts on security and purchase or holding of bank's own capital stock

Indiana § 28-6.1-9-10

Art. 6.1SAVINGS BANKS

Ch. 9Lending Limitations of Savings Banks

This text of Indiana § 28-6.1-9-10 (Loans or discounts on security and purchase or holding of bank's own capital stock) 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 § 28-6.1-9-10 (2026).

Text

(a)A stock savings bank may not:

(1)make a loan or discount on the security of the shares of its own capital stock; or

(2)be the purchaser or holder of shares of its own capital stock; unless the security or purchase is necessary to prevent loss under a debt previously contracted in good faith.

(b)Stock that may be purchased or acquired under subsection (a) shall be sold or disposed of within six (6) months from the time of its purchase at public or private sale, unless otherwise ordered by the department.

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(a) A stock savings bank may not:
(1) make a loan or discount on the security of the shares of its
own capital stock; or
(2) be the purchaser or holder of shares of its own capital stock;
unless the security or purchase is necessary to prevent loss under a debt
previously contracted in good faith.
(b) Stock that may be purchased or acquired under subsection (a)
shall be sold or disposed of within six (6) months from the time of its
purchase at public or private sale, unless otherwise ordered by the
department.