Indiana Code 28-11-5-2. Approval of articles of incorporation and organization and establishment of financial institutions
Current as of: 2023 | Check for updates
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Sec. 2. (a) A financial institution may not be organized, incorporated, or engage in business in Indiana until the department has approved the following:
For details, see Ind. Code § 35-50-3-2(2) The organization and establishment of the financial institution in the city or town in which the incorporators propose to establish the financial institution.
(1) The articles of incorporation of the proposed financial institution.
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 1 year | up to $5,000 |
(b) A person who violates this section commits a Class A misdemeanor.
As added by P.L.42-1993, SEC.91.