Sec. 22.5. (a) A state bank is entitled to establish a temporary facility on the premises of an accredited college or university in Indiana for the purpose of offering limited account services.
(b) The services that may be offered at a temporary facility established under this section include:
(1) the opening of accounts;
(2) the acceptance of deposits; and
(3) other services determined by the department.
(c) To establish a temporary facility under this section, a state bank is not required to submit an application to the department. However, before establishing a temporary facility under this section, a state bank must:
(1) obtain the written permission of the college or university for the establishment and operation of the facility on the premises of the college or university; and
(2) notify the department in writing of the intention of the state bank to establish the temporary facility.
(d) A written notice provided to the department under subsection (c)(2) must:
(1) be in the form; and
(2) contain the information;
prescribed by the department.
(e) A temporary facility operated by a state bank under this section:
(1) may be operated only:
(A) during registration periods of the college or university; and
(B) for an additional period that may not exceed seven (7) days during a calendar year; and
(2) must meet all other requirements of state law applying to state banks.
As added by P.L.262-1995, SEC.54.
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