However, the total amount of the investment securities of any one (1) obligor or maker purchased or held by a corporate fiduciary for its own account shall not at any time exceed ten percent (10%) of the amount of the total equity capital of the corporate fiduciary.(b) The limitations imposed by subsection (a) do not apply to:(1) the direct or indirect obligations of the United States; or(2) the direct obligations of:(A) a United States territory or insular possession;(B) the state of Indiana; or(C) any municipal corporation or taxing district in Indiana.As added by P.L.262-1995, SEC.90.
Indiana Legal Code