Statutes, codes, and regulations
Indiana Code
Title 28 - FINANCIAL INSTITUTIONSArticle 1 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 7.5 - FORMATION OF CERTAIN BANK HOLDING COMPANIES
Section 28-1-7.5-12 - Separate and distinct corporations; effect upon liability

Ind. Code § 28-1-7.5-12

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Current through P.L. 171-2024
Section 28-1-7.5-12 - Separate and distinct corporations; effect upon liability

The bank, trust company, corporate fiduciary, or stock savings bank and the holding company are separate and distinct corporations. Notwithstanding any acts or omissions of the officers, directors, or shareholders of the corporations, neither of the corporations has any liability to the creditors, depositors, or shareholders of the other.

IC 28-1-7.5-12

As added by P.L. 238-1983, SEC.10. Amended by P.L. 122-1994, SEC.70; P.L. 262-1995, SEC.23.