Indiana Code 28-1-7.5-12. Separate and distinct corporations; effect upon liability
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Terms Used In Indiana Code 28-1-7.5-12
- Fiduciary: A trustee, executor, or administrator.
- holding company: refers to a corporation that:
Indiana Code 28-1-7.5-1
- stock savings bank: has the meaning set forth in Indiana Code 28-1-7.5-1
Sec. 12. The bank, trust company, corporate fiduciary, or stock savings bank and the holding company are separate and distinct corporations. Notwithstanding any acts or omissions of the officers, directors, or shareholders of the corporations, neither of the corporations has any liability to the creditors, depositors, or shareholders of the other.
As added by P.L.238-1983, SEC.10. Amended by P.L.122-1994, SEC.70; P.L.262-1995, SEC.23.