Indiana § 28-7-1-22 - Authority to borrow; limits; authority to receive public deposits and pledge securities
Full text of Indiana Indiana Code § 28-7-1-22 — Authority to borrow; limits; authority to receive public deposits and pledge securities, with citation guidance and answers to common questions.
§ 28-7-1-22. Authority to borrow; limits; authority to receive public deposits and pledge securities
Sec. 22. (a) A credit union may borrow from any source. The total borrowing of a credit union may not at any time exceed fifty per cent (50%) of the unimpaired shares capital and surplus of the credit union.
(b) A credit union may receive deposits of state and federal public funds, including the right to pledge securities or other assets for the repayment of the deposits if the pledge is permitted by applicable law or regulation.
Formerly: Acts 1961, c.182, s.22. As amended by P.L.263-1995, SEC.19; P.L.90-2008, SEC.45; P.L.35-2010, SEC.162.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-7-1-22
What does Indiana Code § 28-7-1-22 cover?
Section 28-7-1-22 ("Authority to borrow; limits; authority to receive public deposits and pledge securities") 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 § 28-7-1-22?
A common citation format is "Indiana Code § 28-7-1-22" (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 § 28-7-1-22 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.