Sec. 3. (a) A savings bank may loan money.

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Terms Used In Indiana Code 28-6.1-6-3

  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
     (b) Subject to any regulation, rule, policy, or guidance adopted by the department, pursuant to its lending authority, a savings bank may engage directly or indirectly in any tax equity finance transaction permissible for a national bank or federal savings association under 12 C.F.R. § 7.1025. The authority to engage in tax equity finance transactions under this subsection is separate from, and does not limit, any investment authorities available to a savings bank. A tax equity finance transaction is subject to the substantive legal requirements of a loan, including, without limitation, IC 28-6.1-9.

As added by P.L.42-1993, SEC.72. Amended by P.L.31-2022, SEC.3.

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