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§ 28-6-2-3-5 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 28 - Financial Institutions/
  5. Article 6.2 - Mutual Savings Bank Holding Companies/
  6. Chapter 3 - Issuance of Stock28-6.2-3-1. Written Approval Before Issuance; Criteria for Approval/
  7. § 28-6-2-3-5
Indiana Legal Code

§ 28-6-2-3-5

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A savings bank shall not offer or sell any stock to any person or corporation whose purchase would be financed by funds loaned to the person or corporation by the savings bank or any of its affiliates, unless that borrowing is approved by the department.As added by P.L.122-1994, SEC.101.