Indiana Code 28-2-17-25. Enforcement actions
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Sec. 25. (a) If the department determines that a branch maintained by an out-of-state state bank in Indiana is being operated:
(2) in an unsafe and unsound manner;
(1) in violation of any provision of Indiana law relating to activities of a bank; or
Terms Used In Indiana Code 28-2-17-25
- 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
- Indiana state bank: means a bank organized or reorganized under the laws of Indiana. See Indiana Code 28-2-17-14
- 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
the department may take all enforcement actions it would be empowered to take if the branch were an Indiana state bank, including but not limited to enforcement actions under IC 28-11-4.
(b) The department shall:
(1) promptly give notice to the home state regulator of each enforcement action taken under this section against an out-of-state state bank; and
(2) to the extent practicable, consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
As added by P.L.171-1996, SEC.36.