Indiana § 28-5-1-10 - Time for existing companies to comply with loan limits
Full text of Indiana Indiana Code § 28-5-1-10 — Time for existing companies to comply with loan limits, with citation guidance and answers to common questions.
§ 28-5-1-10. Time for existing companies to comply with loan limits
Sec. 10. Except as otherwise provided in this chapter, any such company which holds obligations of indebtedness in violation of the limitations prescribed in this chapter shall, by July 1, 1938, cause the amount of such obligations to conform to the limitations prescribed in this chapter. The department may, in its discretion, extend the time for effecting such conformity, in individual instances, if the interests of the creditors will be protected and served by such extension. Upon the failure of any such company to comply with such limitations, in accordance with the terms of this section or in accordance with any order of the department with relation to such limitations, the department may declare that such company is conducting its business in an unauthorized or unsafe manner and proceed in accordance with IC 28-1-3.1-2.
Formerly: Acts 1935, c.181, s.10. As amended by P.L.263-1985, SEC.152.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-5-1-10
What does Indiana Code § 28-5-1-10 cover?
Section 28-5-1-10 ("Time for existing companies to comply with loan limits") 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 § 28-5-1-10?
A common citation format is "Indiana Code § 28-5-1-10" (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 § 28-5-1-10 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.