Indiana § 28-8-1-3 Continuation with single bank or trust company as sole stockholders

Indiana Statutes

§ 28-8-1-3 — Continuation with single bank or trust company as sole stockholders

Indiana § 28-8-1-3

Art. 8FINANCIAL SERVICES

Ch. 1Bank Service Corporations

This text of Indiana § 28-8-1-3 (Continuation with single bank or trust company as sole stockholders) 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 § 28-8-1-3 (2026).

Text

In the event the stock of a bank service
corporation is held by two (2) banks or trust companies, one (1) of the
banks or trust companies ceases to use the services of the bank service
corporation and ceases to hold stock in such corporation thereby
leaving the other bank or trust company the sole stockholder in such
corporation, the bank service corporation may continue to function as
such and the remaining bank may continue to hold stock in such
corporation.
Formerly: Acts 1963, c.359, s.3.

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In the event the stock of a bank service
corporation is held by two (2) banks or trust companies, one (1) of the
banks or trust companies ceases to use the services of the bank service
corporation and ceases to hold stock in such corporation thereby
leaving the other bank or trust company the sole stockholder in such
corporation, the bank service corporation may continue to function as
such and the remaining bank may continue to hold stock in such
corporation.
Formerly: Acts 1963, c.359, s.3.