28-6.1-7-13. Paying interest and expenses

IN Code § 28-6.1-7-13 (2019) (N/A)
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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.