Sec. 6. Every financial institution to which this article is applicable shall conduct and transact its business in a safe and prudent manner; shall maintain such institution in a safe and solvent condition; and shall establish and maintain safe and sound methods for the conduct of such financial institution and its business and prudential affairs.
Ind. Code § 28-1-2-6
Prudent conduct of business
Known as the The Indiana Financial Institutions Act
The act spans §§ 28-1-1-1 to 28-1-9-9 (499 sections).
Applied in 1 court decision — leading case Indiana Department of Financial Institutions v. Worthington Bancshares, Inc. (2000)
Most recently applied in Indiana Department of Financial Institutions v. Worthington Bancshares, Inc. (May 2000)
Formerly: Acts 1933, c.40, s.9; Acts 1971, P.L.394, SEC.6.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.