Sec. 19. (a) With the prior written approval of the department, any Indiana state bank may establish and maintain a de novo branch or acquire a branch in a state other than Indiana.

     (b) An Indiana state bank that desires to:

(1) establish one (1) or more de novo branches; or

(2) acquire one (1) or more branches under this section;

must file a written application with the department. The application must be in the form and contain the information prescribed by the director.

     (c) The department may approve or disapprove an application filed under this section. Before the department approves an application, the bank must demonstrate to the satisfaction of the department that:

(1) the applicant state bank will have adequate capital, sound management, and adequate future earnings prospects after the establishment of the branch; and

(2) the establishment of the proposed branch will not violate the laws of the host state.

     (d) The investigation of the department relative to any application as required by this section shall be conducted without a public hearing.

     (e) The location of any branch in another state established or acquired under this section may be changed at any time to a location within the state where the branch is located if the change of location:

(1) is authorized by the board of directors of the Indiana state bank; and

(2) approved by the department.

     (f) A savings association or an industrial loan and investment company organized or reorganized under the laws of Indiana may establish and maintain a de novo branch or acquire a branch in a state other than Indiana to the same extent and under the same restrictions, conditions, and requirements as an Indiana state bank.

     (g) The department may establish criteria to exempt an Indiana state bank from the approval requirements described in this section.

As added by P.L.171-1996, SEC.37. Amended by P.L.192-1997, SEC.9; P.L.79-1998, SEC.67; P.L.69-2018, SEC.51.