Indiana § 28-3-1-1 - Petition; vote of shareholders; order and bond
Full text of Indiana Indiana Code § 28-3-1-1 — Petition; vote of shareholders; order and bond, with citation guidance and answers to common questions.
§ 28-3-1-1. Petition; vote of shareholders; order and bond
Sec. 1. Whenever the directors of any bank organized under the laws of this state, shall desire to liquidate any such bank, they may file a petition with the department of financial institutions for authority so to do. After the filing of any such petition, the said department shall authorize the directors to call a special meeting of the stockholders of such bank, and if the owners of two-thirds (2/3) of the capital stock of such bank shall vote in favor of such liquidation, the directors shall thereupon so notify the department and said department shall thereupon enter an order directing the liquidation of said bank, and shall also provide that a bond be executed in such an amount and with such sureties as the department may approve, for the faithful discharge by the officers of such bank of their respective duties in the liquidation of said bank.
Formerly: Acts 1943, c.39, s.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-3-1-1
What does Indiana Code § 28-3-1-1 cover?
Section 28-3-1-1 ("Petition; vote of shareholders; order and bond") 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 § 28-3-1-1?
A common citation format is "Indiana Code § 28-3-1-1" (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 § 28-3-1-1 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.