Indiana § 28-1-13-10 - Prohibition against accepting compensation for procuring loan; exception for bona fide employment or compensation agreements
Full text of Indiana Indiana Code § 28-1-13-10 — Prohibition against accepting compensation for procuring loan; exception for bona fide employment or compensation agreements, with citation guidance and answers to common questions.
§ 28-1-13-10. Prohibition against accepting compensation for procuring loan; exception for bona fide employment or compensation agreements
Sec. 10. (a) Except as otherwise provided, and subject to subsection (b), an officer, director, owner, partner, employee, or attorney of any bank or trust company who stipulates for, receives, or consents or agrees to receive, any fee, commission, gift, or thing of value, from any person, for the purpose of procuring or endeavoring to procure for any person any loan from or the purchase or discount of any paper, note, draft, check, or bill of exchange by the bank or trust company, commits a Class A misdemeanor.
(b) The prohibitions set forth in subsection (a) do not apply to a bank's or a trust company's:
(1) bona fide employment agreements, including benefit or compensation plans; or
(2) compensation agreements with third party independent contractors.
Formerly: Acts 1933, c.40, s.204. As amended by Acts 1978, P.L.2, SEC.2809; P.L.159-2017, SEC.32.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-1-13-10
What does Indiana Code § 28-1-13-10 cover?
Section 28-1-13-10 ("Prohibition against accepting compensation for procuring loan; exception for bona fide employment or compensation agreements") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 28-1-13-10?
A common citation format is "Indiana Code § 28-1-13-10" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 28-1-13-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.