Sec. 2.5. (a) A bank or trust company may act as an insurance producer for the sale of any life insurance policy or annuity contract issued by a life insurance company authorized to do business in any state in which the agent operates. (b) A bank or trust company that acts as an insurance producer for the sale of a life insurance policy or an annuity contract in Indiana: (1) is subject to all requirements of IC 27 ; and (2) must comply with the disclosure requirements under IC 27-1-38 . (c) A bank or trust company may not condition: (1) an extension of credit; (2) a lease or sale of real or personal property; (3) the performance of services; or (4) the amount charged for: (A) extending credit; (B) leasing or selling real or personal property; or (C) performing services; upon a person's purchase of a life insurance policy or an annuity contract from the bank or trust company or an affiliate (as defined in IC 28-2-13-3 ) of the bank or trust company. (d) This section does not prohibit a bank or trust company from requiring that a person, as a condition to a transaction, obtain a life insurance policy from an insurance company acceptable to the bank or trust company.
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