Section 28-1-13-6 - Extension of credit to officers, directors, or principal shareholders; compliance with federal restrictions Any bank or trust company may extend credit to an officer, a director, or a principal shareholder in accordance with the restrictions and provisions of Regulation O of the Board of Governors of the Federal Reserve System ( 12 CFR 215 ).
(Formerly: Acts 1933, c.40, s.200; Acts 1935, c.5, s.36; Acts 1937, c.33, s.28; Acts 1943, c.148, s.1; Acts 1955, c.25, s.1; Acts 1969, c.280, s.5.) As amended by Acts1977 , P.L. 291, SEC.1; Acts1978 , P.L. 2, SEC.2808; Acts1981 , P.L. 250, SEC.1; P.L. 265-1983, SEC.2; P.L. 144-1984, SEC.1; P.L. 14-1992, SEC.91.