# Ind. Code § 28-7-1-8: Unauthorized use of name "credit union"; violations

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-8

## Section

- **Citation:** Ind. Code § 28-7-1-8
- **Heading:** Unauthorized use of name "credit union"; violations
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 28 / Article 7 / Chapter 1 / Section 28-7-1-8

## Text

Sec. 8. (a) The use of any name or title that contains the words "credit union", or that means "credit union" in any language, is unlawful unless the name is used by:

(1) a corporation authorized to use the words "credit union" under Indiana or United States law; or

(2) the Indiana Credit Union League, Inc., and its affiliates.

(b) The department is authorized to exercise the powers under IC 28-11-4 against a person, firm, limited liability company, or corporation that improperly holds itself out as a credit union.

(c) A person, firm, limited liability company, or corporation that violates this section is subject to a penalty of five hundred dollars ($500) per day for each day during which the violation continues. The penalty imposed shall be recovered in the name of the state on relation of the department and, when recovered, shall be paid into the financial institutions fund established by IC 28-11-2-9.

Formerly: Acts 1961, c.182, s.8. As amended by Acts 1978, P.L.2, SEC.2820; P.L.52-1985, SEC.8; P.L.263-1995, SEC.6; P.L.141-2005, SEC.12.

## Nearby sections

- [Ind. Code § 28-7-1-0.1 Application of certain amendments to chapter](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-0.1.md)
- [Ind. Code § 28-7-1-0.5 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-0.5.md)
- [Ind. Code § 28-7-1-1 Persons authorized to organize; application; articles of incorporation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-1.md)
- [Ind. Code § 28-7-1-2 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-2.md)
- [Ind. Code § 28-7-1-3 Bylaws; requirement to commence business; form](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-3.md)
- [Ind. Code § 28-7-1-4 Bylaws; contents](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-4.md)
- [Ind. Code § 28-7-1-5 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-5.md)
- [Ind. Code § 28-7-1-6 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-6.md)
- [Ind. Code § 28-7-1-7 Amendment of articles](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-7.md)
- [Ind. Code § 28-7-1-8 Unauthorized use of name "credit union"; violations](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-8.md)
- [Ind. Code § 28-7-1-9 Powers; investments; maintenance of files; authority to purchase and hold life insurance](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-9.md)
- [Ind. Code § 28-7-1-9.1 Sale of life insurance policy or annuity contract; prohibitions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-9.1.md)
- [Ind. Code § 28-7-1-9.2 Request to exercise rights and privileges granted to federal credit unions; appeal](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-9.2.md)
- [Ind. Code § 28-7-1-10 Membership; identification; qualified groups; membership cards](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A7_C1_S28-7-1-8. Check the current official text before relying on it. Not legal advice.