Indiana Code 28-2-17-24. Examination of branch operations
(b) The department may enter into cooperative, coordinating, and information-sharing agreements with any organization enumerated in IC 28-11-3-3 with respect to the periodic examination or other supervision of:
Terms Used In Indiana Code 28-2-17-24
- bank: has the meaning set forth in 12 U. See Indiana Code 28-2-17-3
- branch: has the meaning set forth in IC 28-2-13-7. See Indiana Code 28-2-17-6
- department: refers to the department of financial institutions. See Indiana Code 28-2-17-8
- home state: means the following:
Indiana Code 28-2-17-10
- home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is organized or reorganized. See Indiana Code 28-2-17-11
- host state: means a state, other than the home state of a bank, in which the bank:
Indiana Code 28-2-17-12
- Indiana state bank: means a bank organized or reorganized under the laws of Indiana. See Indiana Code 28-2-17-14
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- out-of-state bank: means a bank whose home state is a state other than Indiana. See Indiana Code 28-2-17-16
- out-of-state state bank: means a bank organized or reorganized under the laws of any state other than Indiana. See Indiana Code 28-2-17-17
- state: means any of the following:
Indiana Code 28-2-17-19
(2) any branch of an Indiana state bank in any host state;
and the department may accept the organization’s reports of examination and reports of investigation instead of conducting its own examinations or investigations.
(c) The department may enter into agreements with any financial institution supervisory agency that has concurrent jurisdiction over an Indiana state bank or an out-of-state state bank operating a branch in Indiana pursuant to this chapter to:
(1) engage the services of such agency’s examiners at a reasonable rate of compensation; or
(2) provide the services of the department’s examiners to such agency at a reasonable rate of compensation.
Any such agreement shall be entered into under IC 36-1-7.
(d) The department may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch established and maintained in Indiana of an out-of-state state bank or any branch established and maintained by an Indiana state bank in any host state. The department may at any time take such actions independently if the department considers the actions to be necessary or appropriate to carry out its responsibilities under this chapter or to ensure compliance with the laws of Indiana. In the case of an out-of-state state bank, the department shall recognize:
(1) the exclusive authority of the home state regulator over corporate governance matters; and
(2) the primary responsibility of the home state regulator with respect to safety and soundness matters.
(e) Each out-of-state state bank that maintains one (1) or more branches in Indiana is subject to the provisions of IC 28-11-3-5. The fees may be shared with other financial institution supervisory agencies or any organization affiliated with or representing one (1) or more bank supervisory agencies in accordance with agreements between those agencies and the department.
(f) For the purposes of this chapter, the provisions of IC 28-1-2-30 apply to the following:
(1) An out-of-state bank.
(2) An out-of-state savings association.
(3) An out-of-state industrial loan and investment company.
As added by P.L.171-1996, SEC.36. Amended by P.L.79-1998, SEC.66.