Statutes, codes, and regulations
Indiana Code
Title 28 - FINANCIAL INSTITUTIONSArticle 1 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 3.1 - LIQUIDATION OF FINANCIAL INSTITUTIONS
Section 28-1-3.1-21 - Troubled or insolvent financial institutions; federal supervisory agencies; department's authority to approve transactions

Ind. Code § 28-1-3.1-21

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Current through P.L. 171-2024
Section 28-1-3.1-21 - Troubled or insolvent financial institutions; federal supervisory agencies; department's authority to approve transactions

Whenever a federal supervisory agency is bidding, consolidating, merging, selling, or otherwise resolving or disposing of a troubled, an insolvent, or an imminently insolvent financial institution, the director of the department may approve any transaction, including the purchase of assets, the assumption of liabilities, a merger, or the formation of a new financial institution, if the transaction requires the approval of the department.

IC 28-1-3.1-21

As added by P.L. 42-1993, SEC.24. Amended by P.L. 11-1998, SEC.1; P.L. 35-2010, SEC.110.