Section 28-1-11-12.5 - Federal home loan bank; investments; membership; loans; transfer, assignment, and pledge of bonds, notes, contracts, mortgages, securities, and other propertySubject to any limitations imposed by the department through policy, a bank or trust company may do any of the following:
(1) Invest the money deposited in the bank or trust company in the shares of the capital stock, bonds, debentures, notes, or other obligations of a federal home loan bank of the United States.(2) Become a member of the federal home loan bank of the district in which Indiana is located or an adjoining district.(3) Borrow money from: (A) a federal home loan bank described in subdivision (2);(B) the Federal Deposit Insurance Corporation; or(C) any other corporation.(4) Transfer, assign to, and pledge with a federal home loan bank described in subdivision (2), the Federal Deposit Insurance Corporation, or other corporation any of the bonds, notes, contracts, mortgages, securities, or any other property of the bank or trust company held or acquired as security for the payment of loans entered into under subdivision (3).(5) Exercise all rights, powers, and privileges conferred upon, and do all things and perform all acts required of, members or shareholders of a federal home loan bank by the Federal Home Loan Bank Act (12 U.S.C. 1421 through 1449).As added by P.L. 258-2003, SEC.5.