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IC 28-15
ARTICLE 15. SAVINGS ASSOCIATIONS
IC 28-15-1
Chapter 1. Definitions
IC 28-15-1-1
Applicability of definitions
Sec. 1. The definitions in this chapter apply throughout IC 28-15,
except where the context requires otherwise.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-2
"Automated teller machine"
Sec. 2. "Automated teller machine" means unmanned electronic
or mechanical equipment that performs routine financial transactions
for the public.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-3
"Branch office"
Sec. 3. "Branch office" means any office, agency, mobile unit,
messenger service, or other place of business at which deposits are
received, checks paid, or money lent. However, the term does not
include:
(1) the principal office of a savings association;
(2) an automated teller machine;
(3) a night depository; or
(4) a temporary facility for a savings association as provided in
IC 28-2-13-22.5.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-4
"Department"
Sec. 4. "Department" refers to the department of financial
institutions.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-5
"Deposit account"
Sec. 5. (a) "Deposit account":
(1) means the total monetary interest of a depositor in a savings
association; and
(2) consists of the withdrawal value of such interest.
(b) For the purposes of IC 28, a "share account" in a share account
association organized and existing before January 1, 1997, has the
same meaning as a deposit account.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-6
"Deposit association"
Sec. 6. "Deposit association" means any savings association
governed by its members.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-7
"Depositor"
Sec. 7. "Depositor" means a person who owns a withdrawable
interest in an account or deposit in a savings association.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-8
"Member"
Sec. 8. "Member" means:
(1) any depositor in a deposit association or owner of a share
account in a share account association; and
(2) unless otherwise provided by the articles of incorporation,
any debtor.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-9
"Mutual association"
Sec. 9. (a) "Mutual association" means a nonstock savings
association that is governed by members.
(b) The term includes a deposit association or share account
association organized and existing before January 1, 1997.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-9.8
"Primary federal regulator"
Sec. 9.8. "Primary federal regulator" means the federal agency
primarily responsible for the regulation of:
(1) savings associations; or
(2) savings association holding companies;
organized under the laws of any state or the United States.
As added by P.L.27-2012, SEC.110.
IC 28-15-1-10
"Property improvement loan"
Sec. 10. "Property improvement loan" means a loan to the owners
of real estate, the proceeds of which are used to improve or equip
real estate or a structure upon it.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-11
"Savings association"
Sec. 11. "Savings association" means any:
(1) building and loan association;
(2) savings and loan association;
(3) rural loan and savings association; or
(4) guaranty loan and savings association;
organized and operating under the laws of Indiana, whether in stock
or mutual form.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-12
"Share account"
Sec. 12. "Share account" in a share account association organized
and existing before January 1, 1997, has the same meaning as a
deposit account.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-13
"Share account association"
Sec. 13. "Share account association" means any savings
association that has accounts representing interests in the shares of
the savings association (referred to in this chapter as share accounts).
As added by P.L.193-1997, SEC.2.
IC 28-15-1-14
"Stock association"
Sec. 14. "Stock association" means a savings association owned
by holders of capital stock.
As added by P.L.193-1997, SEC.2.
IC 28-15-1-15
"Unimpaired capital and unimpaired surplus"
Sec. 15. "Unimpaired capital and unimpaired surplus" means
capital and surplus as that term is defined in 12 CFR 3.100.
As added by P.L.193-1997, SEC.2.
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