Purchase and sale of investment securities for bank's own account under department rules; limitation on investment securities

Ind. Code § 28-6.1-10-6
in effect
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Sec. 6. (a) Subject to subsection (b), a savings bank may purchase for its own account and sell investment securities under limitations and restrictions the department prescribes by regulation, rule, policy, or guidance. (b) The total amount of the investment securities of any one (1) obligor or maker, purchased or held by any savings bank for its own account may not at any time exceed ten percent (10%) of the amount of the total equity capital of the savings bank. As added by P.L.42-1993, SEC.72. Amended by P.L.27-2012, SEC.88.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026

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