Indiana § 28-7-1-17.5 Signature limits

Indiana Statutes

§ 28-7-1-17.5 — Signature limits

Indiana § 28-7-1-17.5

Art. 7SPECIALIZED FINANCIAL INSTITUTIONS

Ch. 1Credit Unions

This text of Indiana § 28-7-1-17.5 (Signature limits) 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 § 28-7-1-17.5 (2026).

Text

5.The credit committee or loan officer may approve a line of credit, which shall establish a signature limit. Advances in excess of the signature limit shall be permitted if security is pledged to guarantee that amount in excess of the signature limit. Advances may be granted to each member within the limits of such extension of credit. Where a line of credit has been approved, no additional loan application or statement of purpose is required, provided the aggregate unsecured obligation does not exceed the signature limit. As added by Acts 1977, P.L.294, SEC.10. Amended by P.L.263-1995, SEC.15.

Free access — add to your briefcase to read the full text and ask questions with AI

5. The credit committee or loan officer may
approve a line of credit, which shall establish a signature limit.
Advances in excess of the signature limit shall be permitted if security
is pledged to guarantee that amount in excess of the signature limit.
Advances may be granted to each member within the limits of such
extension of credit. Where a line of credit has been approved, no
additional loan application or statement of purpose is required,
provided the aggregate unsecured obligation does not exceed the
signature limit.
As added by Acts 1977, P.L.294, SEC.10. Amended by
P.L.263-1995, SEC.15.