Indiana § 28-6.2-5-2 Pledging stock

Indiana Statutes

§ 28-6.2-5-2 — Pledging stock

Indiana § 28-6.2-5-2

Art. 6.2MUTUAL SAVINGS BANK HOLDING

Ch. 5Powers of a Mutual Holding Company

This text of Indiana § 28-6.2-5-2 (Pledging 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 § 28-6.2-5-2 (2026).

Text

(a)A mutual holding company, to collateralize an obligation of its own or of any of its subsidiaries or affiliates, may pledge any stock that comprises a minority interest in any subsidiary or any stock that the mutual holding company holds in the following:

(1)A subsidiary savings bank, if the proceeds or other benefit of the obligation collateralized are received by the savings bank whose stock is pledged.

(2)A subsidiary savings bank that was in the stock form when acquired.

(3)Any nondepository subsidiary.

(b)A pledge of stock that is not described in subsection (a) may not be made without the prior written approval of the director.

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(a) A mutual holding company, to collateralize
an obligation of its own or of any of its subsidiaries or affiliates, may
pledge any stock that comprises a minority interest in any subsidiary or
any stock that the mutual holding company holds in the following:
(1) A subsidiary savings bank, if the proceeds or other benefit of
the obligation collateralized are received by the savings bank
whose stock is pledged.
(2) A subsidiary savings bank that was in the stock form when
acquired.
(3) Any nondepository subsidiary.
(b) A pledge of stock that is not described in subsection (a) may not
be made without the prior written approval of the director.