Indiana § 28-6.2-5-3 Pledging stock; notification; certification of transfer of proceeds

Indiana Statutes

§ 28-6.2-5-3 — Pledging stock; notification; certification of transfer of proceeds

Indiana § 28-6.2-5-3

Art. 6.2MUTUAL SAVINGS BANK HOLDING

Ch. 5Powers of a Mutual Holding Company

This text of Indiana § 28-6.2-5-3 (Pledging stock; notification; certification of transfer of proceeds) 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 § 28-6.2-5-3 (2026).

Text

Within ten (10) days after any pledge of stock, a mutual holding company shall:

(1)notify the director in writing regarding the terms of the transaction, including the amount of principal and interest, the repayment terms, the maturity date, the nature and amount of collateral, and the terms governing seizure of the collateral; and

(2)include in the notice a certification that the proceeds of the loan have been transferred to the subsidiary savings bank whose stock has been pledged under section 2(a) of this chapter.

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Within ten (10) days after any pledge of stock,
a mutual holding company shall:
(1) notify the director in writing regarding the terms of the
transaction, including the amount of principal and interest, the
repayment terms, the maturity date, the nature and amount of
collateral, and the terms governing seizure of the collateral; and
(2) include in the notice a certification that the proceeds of the
loan have been transferred to the subsidiary savings bank whose
stock has been pledged under section 2(a) of this chapter.