IC 28-6.2-5-3 Pledging Stock; Notification; Certification of Transfer of Proceeds

• Library: Indiana Statutes
• Edition: 2023
• Currency: Current through P.L. 255-2023
• Year: 2023
• Citation: IC 28-6.2-5-3

Within ten (10) days after any pledge of stock, a mutual holding company shall:

(1) notify the director in writing regarding the terms of the transaction, including the amount of principal and interest, the repayment terms, the maturity da...

(2) include in the notice a certification that the proceeds of the loan have been transferred to the subsidiary savings bank whose stock has been pledged under section 2(a) of this chapter.