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Can you summarize IC 28-1-15?
DEPARTMENT OF FINANCIAL INSTITUTIONS > Statements of Condition of Banks and Trust Companies
Short Summary
The provided legal document content pertains to the Statements of Condition of Banks and Trust Companies in Indiana. According to the document, the Department of Financial Institutions has the authority to require banks and trust companies to prepare, submit, and publish statements of condition. These statements need to be verified and submitted according to the designated forms, notice, and dates specified by the department. Banks and trust companies are also required to publish their statements of condition in a newspaper located in the city or town where they have their principal office. The expenses for publication are to be borne by the bank or trust company, and proof of publication must be furnished to the department as required. Failure to comply with the department’s requirements or violating any order related to the statements of condition can result in a penalty of one hundred dollars ($100) per day of non-compliance. The penalty can be recovered in any court of competent jurisdiction, with the amount being paid into the general fund of the state treasury. The document does not mention any specific exemptions or exceptions to these requirements.
Whom does it apply to?
Every bank and trust company
What does it govern?
Statements of Condition of Banks and Trust Companies
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A penalty of one hundred dollars ($100) for each day of non-compliance
Jurisdiction
Indiana