Paying Interest and Expenses

  1. Law
  2. Indiana Code
  3. Financial Institutions
  4. Savings Banks
  5. Powers of a Savings Bank Subject to the Rules of the Department
  6. Paying Interest and Expenses

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Sec. 13. A savings bank may not pay:

(1) interest contracted for with a depositor; or

(2) other expenses incurred in operating the business of the savings bank;

except from current earnings or undivided profits without the approval of the department.

As added by P.L.42-1993, SEC.72.


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