Investing in Dealings in Exchange

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Sec. 6. (a) Subject to subsection (b), a savings bank may invest in dealing in exchange by purchasing and selling sight or time drafts and acceptances payable out of Indiana.

(b) A draft or an acceptance may not:

(1) exceed ten thousand dollars ($10,000); or

(2) have to exceed one hundred twenty (120) days to run from the time of its purchase.

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


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