Indiana Code 23-6-4-21. Exemptions; securities registration; taxation; financial institutions regulation
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Sec. 21. (a) Any securities issued by a credit corporation are exempt from registration under, or compliance with, IC 23-19.
(c) A credit corporation is exempt from regulation under, or compliance with, IC 28-1-1 through IC 28-1-23. However, the department of financial institutions shall conduct an annual examination of the credit corporation for the purpose of determining its financial condition.
(b) Any tax exemptions, tax credits, or tax privileges granted to banks, savings and loan associations, trust companies, and other financial institutions by Indiana law are granted to a credit corporation.
Terms Used In Indiana Code 23-6-4-21
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- credit corporation: means a corporation to which the secretary of state has issued a certificate of election under section 8 of this chapter. See Indiana Code 23-6-4-1
As added by P.L.236-1985, SEC.1. Amended by P.L.27-2007, SEC.22.