Sec. 13. A savings bank may not pay: (1) interest contracted for with a depositor; or (2) other expenses incurred in operating the business of the savings bank; except from current earnings or undivided profits without the approval of the department. IC 28-6.1-8 Chapter 8. Investment and Loan Powers of Savings Banks 28-6.1-8-1 Application of article 28-6.1-8-2 Making, arranging, purchasing, and selling real estate loans and extensions of credit 28-6.1-8-3 Making FHA loans, advances of credit, and purchases of obligations 28-6.1-8-4 Lending deposited money 28-6.1-8-5 Investing in real estate 28-6.1-8-6 Investing in dealings in exchange 28-6.1-8-7 Becoming Federal Reserve System member and exercising conferred powers 28-6.1-8-8 Exercising powers relating to federal home loan banks and corporations 28-6.1-8-9 Investing in and selling shares of open-end investment companies 28-6.1-8-10 Depositing funds; permissible institutions and accounts
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