A state trust company may acquire its own shares or participation shares if:
(1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; or
(2) The state trust company obtains the prior written approval of the commissioner.
A state trust company may acquire a lien upon its own shares or participation shares if:
The aggregate amount of indebtedness so secured is less than the amount of the state trust company’s undivided profits; or
The state trust company obtains the prior written approval of the commissioner.
Except with the prior written approval of the commissioner:
The state trust company may not hold its own shares or participation shares as treasury stock for more than two (2) years; and
A lien acquired under this section may not by its original terms extend for more than two (2) years.