Indiana Code 28-2-16-21. Exemption from IC 28-1-2-23
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Sec. 21. (a) An acquisition by a foreign bank holding company of control of an Indiana bank or Indiana bank holding company is exempt from the requirements of IC 28-1-2-23 if the acquisition is made under this chapter.
(1) acquired by a foreign bank holding company; and
(b) If a bank will be:
Terms Used In Indiana Code 28-2-16-21
- bank: means a financial institution:
Indiana Code 28-2-16-2
- bank holding company: means any company that controls one (1) or more banks. See Indiana Code 28-2-16-3
- company: means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization that has been organized or reorganized under the laws of the United States, any state of the United States, or the District of Columbia. See Indiana Code 28-2-16-5
- control: means directly or indirectly:
Indiana Code 28-2-16-6
- foreign bank holding company: means a bank holding company that has its principal place of business in a state other than Indiana. See Indiana Code 28-2-16-9
- Indiana bank: means a bank that has its principal office in Indiana. See Indiana Code 28-2-16-11
(2) immediately merged with or consolidated into another bank owned by the acquiring foreign bank holding company;
the acquisition of the bank is exempt from the provisions of this chapter.
As added by P.L.279-1987, SEC.9. Amended by P.L.262-1995, SEC.61.