IC 28-6.1-6 – General Powers of a Savings Bank | Midpage

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Indiana Code

Chapter 6

IC 28-6.1-6

General Powers of a Savings Bank

1Discounting, negotiating, selling, and guaranteeing evidences of debt 2Buying and selling exchange, coin, and bullion 3Loaning money; engaging in tax equity finance transactions 4Borrowing money 5Receiving savings and demand deposits 6Receiving deposits of securities and personal property 7Contracting for and receiving highest rate of interest 8Accepting drafts for future payment; issuing letters of credit 9Exercising general banking powers; issuing money 10Receiving deposits of state and federal public funds 11Acting as fiscal or transfer agent of government bodies 12Transferring, registering, and countersigning certificates of stock, bonds, and other evidences of indebtedness 13Acting as agent to buy and sell transportation 14Soliciting and writing insurance; acting as insurance producer for life insurance or annuity; prohibitions; authority to purchase and hold life insurance 15Acting as attorney 16Receiving personal property for deposit 17Acting under court appointment 18Acting in probate 19Acting as guardian, trustee, or personal representative 20Taking, accepting, and executing trusts 21Acting in fiduciary capacity 22Receiving fees, commissions, gifts, and things of value 22.5Profit or commission on sales or purchases; necessity of specific authorization; surcharge 23Requesting mergers, consolidations, and joinings 24Request to exercise rights and privileges granted to national banks; appeal 25Requirement to provide property tax information in certain transactions 26Authorization for savings banks to use fiduciary funds in conflict of interest transactions; conditions; notice; required consent