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Ind. Code § 28-6.1-8-6

Investing in dealings in exchange

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

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.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.