A branch of an out-of-state bank may not be established in Indiana under this chapter unless the out-of-state bank:

1. (1) confirms in writing to the department that it will comply with all applicable laws of Indiana as long as it maintains a branch in Indiana; and
2. (2) provides satisfactory evidence to the department of compliance with the applicable requirements of IC 28-1-22 .

As added by P.L.171-1996, SEC.37.