Indiana § 5-1.5-8-2 Securities to be purchased and held in name of bank; required
documentation

Indiana Statutes

§ 5-1.5-8-2 — Securities to be purchased and held in name of bank; required documentation

Indiana § 5-1.5-8-2

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.5INDIANA BOND BANK

Ch. 8Loans to Qualified Entities

This text of Indiana § 5-1.5-8-2 (Securities to be purchased and held in name of bank; required documentation) 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 § 5-1.5-8-2 (2026).

Text

(a)All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank.

(b)Except for agreements described in IC 5-1.5-1-10(4), all securities at any time purchased by the bank, upon delivery to the bank, shall, unless waived by the board, be accompanied by all documentation required by the board that shall include an approving opinion of recognized bond counsel, certification and guarantee of signatures, and certification as to no litigation pending as of the date of delivery of the securities challenging the validity or issuance of such securities.

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(a) All securities at any time purchased, held,
or owned by the bank shall at all times be purchased and held in the
name of the bank.
(b) Except for agreements described in IC 5-1.5-1-10(4), all
securities at any time purchased by the bank, upon delivery to the bank,
shall, unless waived by the board, be accompanied by all
documentation required by the board that shall include an approving
opinion of recognized bond counsel, certification and guarantee of
signatures, and certification as to no litigation pending as of the date of
delivery of the securities challenging the validity or issuance of such
securities.