Indiana Code 28-2-14-10. Acquisitions of banks and bank holding companies
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Sec. 10. (a) Subject to the limitations provided in section 12 of this chapter and in IC 28-2-15-22(a) (repealed July 1, 1992) or IC 28-2-16-20(a), and after approval by the department:
(2) any company that has its principal office in Indiana is entitled to acquire two (2) or more banks or bank holding companies.
(1) any bank holding company that has its principal office in Indiana is entitled to acquire one (1) or more banks or bank holding companies; and
Terms Used In Indiana Code 28-2-14-10
- acquire: means directly or indirectly:
Indiana Code 28-2-14-1
- bank: means a financial institution:
Indiana Code 28-2-14-2
- bank holding company: means any company that controls one (1) or more banks. See Indiana Code 28-2-14-3
- company: means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization, domestic or foreign. See Indiana Code 28-2-14-5
- department: refers to the department of financial institutions created under IC 28-11-1-1. See Indiana Code 28-2-14-7
(b) Except as expressly permitted by this chapter and IC 28-2-13-19:
(1) a bank holding company that has its principal office in Indiana may not acquire a bank or a bank holding company; and
(2) a company that has its principal office in Indiana may not acquire two (2) or more banks or bank holding companies.
As added by P.L.265-1985, SEC.4. Amended by P.L.36-1987, SEC.11; P.L.3-1990, SEC.102; P.L.33-1991, SEC.30; P.L.42-1993, SEC.65.