Indiana § 28-14-5-6.5 - Purchase of speculative securities or securities not rated by a generally recognized security rating service
Full text of Indiana Indiana Code § 28-14-5-6.5 — Purchase of speculative securities or securities not rated by a generally recognized security rating service, with citation guidance and answers to common questions.
§ 28-14-5-6.5. Purchase of speculative securities or securities not rated by a generally recognized security rating service
Sec. 6.5. (a) A corporate fiduciary may not purchase for its own account any bond, note, or other evidence of indebtedness that is commonly designated as a security that is speculative in character or that has speculative characteristics. For the purposes of this subsection, a security is speculative or has speculative characteristics if at the time of purchase the security:
(1) is rated below the first four (4) rating classes by a generally recognized security rating service;
(2) is in default; or
(3) is otherwise considered speculative by the director.
(b) A corporate fiduciary may purchase for its own account a security that is not rated by a generally recognized security rating service if:
(1) the corporate fiduciary at the time of purchase obtains financial information that is adequate to document the investment quality of the security; and
(2) the security is not otherwise considered speculative by the director.
As added by P.L.176-1996, SEC.32. Amended by P.L.89-2011, SEC.72.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-14-5-6.5
What does Indiana Code § 28-14-5-6.5 cover?
Section 28-14-5-6.5 ("Purchase of speculative securities or securities not rated by a generally recognized security rating service") 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 § 28-14-5-6.5?
A common citation format is "Indiana Code § 28-14-5-6.5" (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 § 28-14-5-6.5 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.