Indiana § 28-3-2-5 - Effect of conversion, merger, or consolidation on obligations of state bank
Full text of Indiana Indiana Code § 28-3-2-5 — Effect of conversion, merger, or consolidation on obligations of state bank, with citation guidance and answers to common questions.
§ 28-3-2-5. Effect of conversion, merger, or consolidation on obligations of state bank
Sec. 5. The merger or consolidation of a bank or trust company with, or the conversion of a bank or trust company into a national banking association shall not release such bank or trust company from its obligation to pay and discharge all of the liabilities created by law or incurred by such bank or trust company before it was merged or consolidated with, or was converted into a national banking association, or to pay any and all taxes imposed under and by virtue of the laws of this state up to the date on which it was merged or consolidated with or was converted into such national banking association, in proportion to the time which has elapsed since the last preceding payment and assessment therefor, or to pay any and all assessments, penalties and forfeitures imposed or incurred under the laws of this state up to the date on which it is merged or consolidated with, or is converted into a national banking association.
Formerly: Acts 1953, c.69, s.5.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-3-2-5
What does Indiana Code § 28-3-2-5 cover?
Section 28-3-2-5 ("Effect of conversion, merger, or consolidation on obligations of state bank") 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 § 28-3-2-5?
A common citation format is "Indiana Code § 28-3-2-5" (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 § 28-3-2-5 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.