Indiana Code 28-1-18.2-5. Applicability of certain provisions of Federal Reserve Act and regulations; violations
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Sec. 5. (a) For purposes of this section, a bank or trust company that is not a member of the Federal Reserve System is subject to Sections 23A and 23B of the Federal Reserve Act (12 U.S.C. § 371c or 371c-1) and Federal Reserve Regulation W (12 CFR 223) to the same extent and in the same manner as though it were a member of the Federal Reserve System.
(b) A violation of Section 23A or 23B of the Federal Reserve Act (12 U.S.C. § 371c or 371c-1) or Federal Reserve Regulation W (12 CFR 223) by a bank or trust company or a subsidiary of either constitutes a violation of this section.
As added by P.L.33-1991, SEC.18. Amended by P.L.141-2005, SEC.8.
Terms Used In Indiana Code 28-1-18.2-5
- company: means a corporation, limited liability company, partnership, business trust, association, or similar organization. See Indiana Code 28-1-18.2-1.1
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC