§ 5-1.5-3-4 — Prohibited acts

Indiana § 5-1.5-3-4

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.5: INDIANA BOND BANK
• Ch. 3: Powers and Duties

Text

The bank may not:
(1) lend money other than to a qualified entity;
(2) purchase securities other than:
(A) a security to which a qualified entity is a party as issuer,
borrower, or lessee; or
(B) an investment under section 3 of this chapter;
(3) deal in securities within the meaning of or subject to any
securities law, securities exchange law, or securities dealers law
of the United States of America or of the state or of any other state
or jurisdiction, domestic or foreign, except as authorized in this
article;
(4) emit bills of credit, or accept deposits of money for time or
demand deposit, or administer trusts, or engage in any form or
manner, or in the conduct of, any private or commercial banking
business, or act as a savings bank or savings association, or any
other kind of financial institution; or
(5) engage in any form of private or commercial banking
business.

Legislative History

As added by P.L.25-1984, SEC.1. Amended by P.L.46-1987, SEC.8; P.L.79-1998, SEC.6.