(a) A financial institution may not be organized, incorporated, or engage in business in Indiana until the department has approved the following:(1) The articles of incorporation of the proposed financial institution.(2) The organization and establishment of the financial institution in the city or town in which the incorporators propose to establish the financial institution.(b) A person who violates this section commits a Class A misdemeanor.As added by P.L.42-1993, SEC.91.
Indiana Legal Code