(a) Subject to the limitations provided in section 12 of this chapter and in IC 28-2-15-22(a) (repealed July 1, 1992) or IC 28-2-16-20(a), and after approval by the department:(1) any bank holding company that has its principal office in Indiana is entitled to acquire one (1) or more banks or bank holding companies; and(2) any company that has its principal office in Indiana is entitled to acquire two (2) or more banks or bank holding companies.(b) Except as expressly permitted by this chapter and IC 28-2-13-19:(1) a bank holding company that has its principal office in Indiana may not acquire a bank or a bank holding company; and(2) a company that has its principal office in Indiana may not acquire two (2) or more banks or bank holding companies.As added by P.L.265-1985, SEC.4. Amended by P.L.36-1987, SEC.11; P.L.3-1990, SEC.102; P.L.33-1991, SEC.30; P.L.42-1993, SEC.65.
Indiana Legal Code