# Ind. Code § 28-1-18.2-4: Powers of department; assessment of expenses; penalty for refusal to permit examination

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-4

## Section

- **Citation:** Ind. Code § 28-1-18.2-4
- **Heading:** Powers of department; assessment of expenses; penalty for refusal to permit examination
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 28 / Article 1 / Chapter 18.2 / Section 28-1-18.2-4

## Text

Sec. 4. (a) In making the examination of an affiliate of a bank or trust company, the department has the same powers with respect to the examination as are conferred upon it in the examination of the affairs of a bank or trust company by IC 28-11-3.

(b) The expenses incurred in making examinations of affiliates may be assessed by the department upon the affiliates examined, in proportion to the assets or resources held by the affiliates, upon the days of examination of the various affiliates, and in the manner and at the rate as fixed and prescribed by the department under IC 28-11-3-5.

(c) If an affiliate refuses to pay expenses assessed under subsection (b), or fails to do so within sixty (60) days after the date of the assessment, the expenses may be assessed against the affiliated bank or trust company, and, when so assessed, must be paid by that bank or trust company.

(d) If an affiliate of a bank or trust company refuses to permit the department to make an examination, the bank or trust company with which the affiliate is affiliated is subject to a penalty of not more than one hundred dollars ($100) for each day that the refusal continues. The penalty may be assessed by the department and collected in the same manner as expenses of examination.

As added by P.L.33-1991, SEC.18.

## Nearby sections

- [Ind. Code § 28-1-18.2-1 "Affiliate" defined; scope of term](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-1.md)
- [Ind. Code § 28-1-18.2-1.1 "Company" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-1.1.md)
- [Ind. Code § 28-1-18.2-1.2 "Subsidiary" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-1.2.md)
- [Ind. Code § 28-1-18.2-1.3 Control over another company; fiduciary ownership or control of shares](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-1.3.md)
- [Ind. Code § 28-1-18.2-2 Statement of financial condition; requirements; extension of time; additional statements; penalty for failure to furnish statement](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-2.md)
- [Ind. Code § 28-1-18.2-3 Examination; report on failure to comply with department's recommendations or suggestions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-3.md)
- [Ind. Code § 28-1-18.2-4 Powers of department; assessment of expenses; penalty for refusal to permit examination](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-4.md)
- [Ind. Code § 28-1-18.2-5 Applicability of certain provisions of Federal Reserve Act and regulations; violations](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-5.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A1_C18.2_S28-1-18.2-4. Check the current official text before relying on it. Not legal advice.