Section 28-6.1-3-4 - Qualifications of trusteesAn individual must have the following qualifications to be a trustee:
(1) The individual must be a citizen of Indiana for at least five (5) years before becoming a trustee.(2) The individual must have an equity in real estate:(A) located in the county in which the savings bank is located; and(B) worth at least five thousand dollars ($5,000), the value of which is determined by two (2) individuals designated by the court.(3) The individual must in all respects be a suitable individual to be entrusted with the management of a savings bank.As added by P.L. 42-1993, SEC.72.