Indiana § 28-15-6-1 - Limits on loans made to single borrower; derivative transactions
Full text of Indiana Indiana Code § 28-15-6-1 — Limits on loans made to single borrower; derivative transactions, with citation guidance and answers to common questions.
§ 28-15-6-1. Limits on loans made to single borrower; derivative transactions
Sec. 1. (a) The following limits apply to the loans that a savings association may make to one (1) borrower:
(1) Loans that a savings association may make to one (1) borrower are restricted by the provisions of 12 U.S.C. 84 and 12 CFR 32.
(2) Notwithstanding subdivision (1), a savings association may loan to one (1) borrower no more than the lesser of:
(A) an amount equal to four percent (4%) of the assets of the savings association; or
(B) five hundred thousand dollars ($500,000).
(3) Notwithstanding subdivisions (1) and (2), a savings association may make loans to one (1) borrower to develop domestic residential housing units in an amount equal to or less than thirty percent (30%) of the savings association's unimpaired capital and surplus if:
(A) the final purchase price of each single family dwelling unit whose development is financed under this section does not exceed five hundred thousand dollars ($500,000);
(B) loans made under this subdivision to all borrowers do not in the aggregate exceed one hundred fifty percent (150%) of the savings association's unimpaired capital and surplus; and
(C) the loans made under this subdivision comply with the applicable loan to value requirements that apply to federal savings associations.
(b) For purposes of any lending limits set forth under this article with respect to savings associations, the total loans and extensions of credit by a savings association includes any credit exposure to a person arising from a derivative transaction (as defined in 12 U.S.C. 84(b)(3)) between the savings association and the person.
As added by P.L.193-1997, SEC.2. Amended by P.L.27-2012, SEC.112.
IC 28-15-7Chapter 7. Loans on Deposit Accounts
28-15-7-1Note and pledge required
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-15-6-1
What does Indiana Code § 28-15-6-1 cover?
Section 28-15-6-1 ("Limits on loans made to single borrower; derivative transactions") 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 § 28-15-6-1?
A common citation format is "Indiana Code § 28-15-6-1" (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 § 28-15-6-1 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.