# Ind. Code § 28-2-16-3: "Bank holding company" defined

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-3

## Section

- **Citation:** Ind. Code § 28-2-16-3
- **Heading:** "Bank holding company" defined
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 28 / Article 2 / Chapter 16 / Section 28-2-16-3

## Text

Sec. 3. (a) As used in this chapter, "bank holding company" means any company that controls one (1) or more banks.

(b) For the purposes of this chapter:

(1) a company is not a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, unless the shares are held for the benefit of the shareholders of the company;

(2) a company is not a bank holding company by virtue of its ownership or control of shares that are acquired by the company in connection with its underwriting of securities and that are held only for a period of time as will permit the sale of the shares on a reasonable basis;

(3) a company formed for the sole purpose of participating in a proxy solicitation is not a bank holding company by virtue of its control of voting rights of shares acquired in the course of the solicitation; and

(4) a company is not a bank holding company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two (2) years after the date of acquisition.

The department may extend, from time to time but for not more than one (1) year at a time, the two (2) year period referred to in subdivision (4), but the extensions may not, in the aggregate, exceed three (3) years.

(c) For the purposes of this chapter, any successor to a bank holding company is a bank holding company from the date the predecessor company became a bank holding company.

As added by P.L.279-1987, SEC.9.

## Nearby sections

- [Ind. Code § 28-2-16-1 "Acquire" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-1.md)
- [Ind. Code § 28-2-16-2 "Bank"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-2.md)
- [Ind. Code § 28-2-16-3 "Bank holding company" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-3.md)
- [Ind. Code § 28-2-16-4 "Bank subsidiary" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-4.md)
- [Ind. Code § 28-2-16-5 "Company" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-5.md)
- [Ind. Code § 28-2-16-6 "Control" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-6.md)
- [Ind. Code § 28-2-16-7 "Department" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-7.md)
- [Ind. Code § 28-2-16-8 "Deposits" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-8.md)
- [Ind. Code § 28-2-16-9 "Foreign bank holding company" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-9.md)
- [Ind. Code § 28-2-16-10 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-10.md)
- [Ind. Code § 28-2-16-11 "Indiana bank" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-11.md)
- [Ind. Code § 28-2-16-12 "Indiana bank holding company" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-12.md)
- [Ind. Code § 28-2-16-13 "Indiana bank subsidiary" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-13.md)
- [Ind. Code § 28-2-16-14 "Principal place of business" defined](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A2_C16_S28-2-16-3. Check the current official text before relying on it. Not legal advice.