Paying interest and expenses

Ind. Code § 28-6.1-7-13
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 13. A savings bank may not pay: (1) interest contracted for with a depositor; or (2) other expenses incurred in operating the business of the savings bank; except from current earnings or undivided profits without the approval of the department. As added by P.L.42-1993, SEC.72.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements