Ind. Code ch. 28-6.1-17

Ind. Code ch. 28-6.1-17
in effect

Ind. Code § 28-6.1-17-1 Grounds for seizure of business and property

Sec. 1. The department may take possession of the business and property of a savings bank if any of the following occur: (1) The savings bank fails for thirty (30) days to pay any of its depositors as required by law. (2) The department determines that the board or officers of the savings bank are mismanaging the savings bank's affairs. (3) Any of the conditions described in IC 28-1-3.1-2 apply to the savings bank. As added by P.L.42-1993, SEC.72.

Ind. Code § 28-6.1-17-2 Law governing procedure and parties

Sec. 2. IC 28-1-3.1 governs the following: (1) The authority and the procedures under which the department administers the liquidation of a savings bank under this chapter. (2) The respective rights, powers, privileges, duties, and liabilities of the department, the savings bank, and all interested parties. 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