Indiana Code 28-14-4-5. Maximum limit of investment in real estate and buildings necessary for convenient transaction of business
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Terms Used In Indiana Code 28-14-4-5
- Fiduciary: A trustee, executor, or administrator.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
Sec. 5. The sum that a corporate fiduciary invests in real estate and buildings used for the convenient transaction of its business shall not exceed fifty percent (50%) of the capital and surplus of the corporate fiduciary, exclusive of undivided profits of the corporate fiduciary, unless the director gives approval in writing to investments exceeding the limit set forth in this subsection.
As added by P.L.262-1995, SEC.90.