Indiana § 28-7-1-17.3 Quarterly report of outstanding indebtedness of officers, directors, and
committee members; retention; contents

Indiana Statutes

§ 28-7-1-17.3 — Quarterly report of outstanding indebtedness of officers, directors, and committee members; retention; contents

Indiana § 28-7-1-17.3

Art. 7SPECIALIZED FINANCIAL INSTITUTIONS

Ch. 1Credit Unions

This text of Indiana § 28-7-1-17.3 (Quarterly report of outstanding indebtedness of officers, directors, and committee members; retention; contents) 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 § 28-7-1-17.3 (2026).

Text

3. At least quarterly, the president or manager shall prepare and deliver to the board of directors a report listing the outstanding indebtedness of all officers, directors, and committee members. A report prepared under this subsection must be retained at the credit union for three (3) years and shall not be filed with the department unless specifically requested. A report required by this section must include:

(1)the amount of each indebtedness; and

(2)a description of the terms and conditions of each loan, including:

(A)the interest rate;

(B)the original amount and date of the loan;

(C)the maturity date;

(D)payment terms;

(E)security, if any; and

(F)any unusual term or condition of a particular extension of credit.

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3. At least quarterly, the president or
manager shall prepare and deliver to the board of directors a report
listing the outstanding indebtedness of all officers, directors, and
committee members. A report prepared under this subsection must be
retained at the credit union for three (3) years and shall not be filed
with the department unless specifically requested. A report required by
this section must include:
(1) the amount of each indebtedness; and
(2) a description of the terms and conditions of each loan,
including:
(A) the interest rate;
(B) the original amount and date of the loan;
(C) the maturity date;
(D) payment terms;
(E) security, if any; and
(F) any unusual term or condition of a particular extension of
credit.