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IC 28-6.1-12-1
Application of definitions
Sec. 1. Except as otherwise provided in this chapter, the
definitions in IC 28-2-13 apply throughout this chapter.
As added by P.L.42-1993, SEC.72.
IC 28-6.1-12-2
Bank
Sec. 2. (a) As used in this chapter, "bank" means a financial
institution that is either of the following:
(1) A bank that:
(A) has been organized or reorganized under the laws of the
United States, any state of the United States, or the District
of Columbia; and
(B) is an "insured bank" (as defined in Section 3(h) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(h)) eligible
to make application to become an insured depository
institution under Section 5 of the Federal Deposit Insurance
Act (12 U.S.C. 1815).
(2) Notwithstanding subsection (b), a savings bank formed as a
result of conversion.
(b) The term does not include any of the following:
(1) An institution that has been or is chartered by the Federal
Home Loan Bank Board or the Office of Thrift Supervision.
(2) Institutions of the "Farm Credit System" as described in 12
U.S.C. 2001 through 2260, which include the Farm Credit
Banks, the Federal Land Bank Associations, the Production
Credit Associations, the Banks for Cooperatives, and any other
institution that may become a part of the Farm Credit System,
as chartered by and subject to the supervision of the Farm
Credit Administration.
(3) Another institution that has been organized or reorganized
as a savings association, a credit union, or an industrial loan and
investment company.
As added by P.L.42-1993, SEC.72. Amended by P.L.79-1998,
SEC.73.
IC 28-6.1-12-3
Branches de novo and branches by acquisition
Sec. 3. (a) Subject to this section, a savings bank is entitled to
establish one (1) or more branches de novo and one (1) or more
branches by acquisition in any location or locations within Indiana.
(b) A branch de novo may not be established under this section
without the written approval of the department. A savings bank
desiring to establish one (1) or more branches de novo under this
section must file a written application to do so in the form, and
containing the information, required by the director.
IC 28-6.1-12-4
Establishment of branches by acquisition
Sec. 4. A branch by acquisition under this chapter involving one
(1) or more savings banks formed after December 31, 1992, may be
established under section 3 of this chapter by complying with
IC 28-1-7 or IC 28-1-8 as if the savings bank (were a bank as defined
in IC 28-1-1-3).
As added by P.L.42-1993, SEC.72.
IC 28-6.1-12-5
Automated teller machines
Sec. 5. (a) A savings bank is entitled to open or establish an
automated teller machine in any location within Indiana or as
permitted by the laws of the state in which the automated teller
machine is to be located.
(b) An automated teller machine may be owned or operated
individually by a savings bank or jointly on a cost sharing or fee
basis.
As added by P.L.42-1993, SEC.72. Amended by P.L.192-1997,
SEC.15.
IC 28-6.1-12-6
Failure to comply with chapter
Sec. 6. A person who fails to comply with this chapter commits
a Class A infraction.
As added by P.L.42-1993, SEC.72.
IC 28-6.1-12-7
Actions against savings banks
Sec. 7. (a) A person, company, bank, or bank holding company
that may be or has been injured by reason of any conduct that
constitutes or will constitute a violation of this chapter by a savings
bank may sue the savings bank to enjoin the conduct or for damages,
together with the costs of suit, including reasonable attorney's fees.
(b) The department may sue to enjoin any conduct that constitutes
or will constitute a violation of this chapter, or to require divestiture
of any bank acquired or branch established in violation of this
chapter.
As added by P.L.42-1993, SEC.72.
IC 28-6.1-12-8
Rules
Sec. 8. The department may adopt rules under IC 4-22-2 to
implement this chapter.
As added by P.L.42-1993, SEC.72.