Indiana § 28-7-1-8 - Unauthorized use of name "credit union"; violations
Full text of Indiana Indiana Code § 28-7-1-8 — Unauthorized use of name "credit union"; violations, with citation guidance and answers to common questions.
§ 28-7-1-8. Unauthorized use of name "credit union"; violations
Sec. 8. (a) The use of any name or title that contains the words "credit union", or that means "credit union" in any language, is unlawful unless the name is used by:
(1) a corporation authorized to use the words "credit union" under Indiana or United States law; or
(2) the Indiana Credit Union League, Inc., and its affiliates.
(b) The department is authorized to exercise the powers under IC 28-11-4 against a person, firm, limited liability company, or corporation that improperly holds itself out as a credit union.
(c) A person, firm, limited liability company, or corporation that violates this section is subject to a penalty of five hundred dollars ($500) per day for each day during which the violation continues. The penalty imposed shall be recovered in the name of the state on relation of the department and, when recovered, shall be paid into the financial institutions fund established by IC 28-11-2-9.
Formerly: Acts 1961, c.182, s.8. As amended by Acts 1978, P.L.2, SEC.2820; P.L.52-1985, SEC.8; P.L.263-1995, SEC.6; P.L.141-2005, SEC.12.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-7-1-8
What does Indiana Code § 28-7-1-8 cover?
Section 28-7-1-8 ("Unauthorized use of name "credit union"; violations") 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 § 28-7-1-8?
A common citation format is "Indiana Code § 28-7-1-8" (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 § 28-7-1-8 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.