Current through P.L. 171-2024
Section 28-12-11-1 - Requirements for corporations organized or reorganized under this title(a) This section applies only to a corporation that is organized or reorganized under Indiana law and is any of the following:(1) A bank and trust company.(5) A savings association.(6) An industrial loan and investment company.(8) A corporate fiduciary.(9) A bank of discount and deposit.(10) A loan and trust and safe deposit company.(b) The department shall determine the minimum amount of the capital of a corporation organized or reorganized under this title after giving consideration to:(1) the potential deposit liability to be anticipated, in the case of a proposed new corporation; or(2) the existing deposit liability, in the case of a corporation to be reorganized.As added by P.L. 42-1993, SEC.92. Amended by P.L. 122-1994, SEC.117; P.L. 258-2003, SEC.24; P.L. 213-2007, SEC.101; P.L. 217-2007, SEC.99.