Sec. 4. (a) A corporate fiduciary may purchase for its own account and sell investment securities under the limitations and restrictions the department prescribes by rule or policy. However, the total amount of the investment securities of any one (1) obligor or maker purchased or held by a corporate fiduciary for its own account shall not at any time exceed ten percent (10%) of the amount of the total equity capital of the corporate fiduciary. (b) The limitations imposed by subsection (a) do not apply to: (1) the direct or indirect obligations of the United States; or (2) the direct obligations of: (A) a United States territory or insular possession; (B) the state of Indiana; or (C) any municipal corporation or taxing district in Indiana.
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