Ind. Code § 28-14-7.5-7

Current through P.L. 171-2024

Section 28-14-7.5-7 - Loans in aid of operation or reorganization; security

With the prior approval of the department, a conservator appointed under this chapter may borrow money as necessary or expedient to aid in the operation or reorganization of the corporate fiduciary. Any loan obtained by the conservator under this section may be secured by the pledge or mortgage of, or through a lien upon or security interest in, any assets:

(1) belonging to the corporate fiduciary; and

(2) not held in trust for the benefit of another person.

IC 28-14-7.5-7

As added by P.L. 10-2006, SEC.78 and P.L. 57-2006, SEC.78.