Temporary facilities on college or university premises

Sec. 22.5. (a) A state bank is entitled to establish a temporary facility on the premises of an accredited college or university in Indiana for the purpose of offering limited account services. (b) The services that may be offered at a temporary facility established under this section include: (1) the opening of accounts; (2) the acceptance of deposits; and (3) other services determined by the department. (c) To establish a temporary facility under this section, a state bank is not required to submit an application to the department. However, before establishing a temporary facility under this section, a state bank must: (1) obtain the written permission of the college or university for the establishment and operation of the facility on the premises of the college or university; and (2) notify the department in writing of the intention of the state bank to establish the temporary facility. (d) A written notice provided to the department under subsection (c)(2) must: (1) be in the form; and (2) contain the information; prescribed by the department. (e) A temporary facility operated by a state bank under this section: (1) may be operated only: (A) during registration periods of the college or university; and (B) for an additional period that may not exceed seven (7) days during a calendar year; and (2) must meet all other requirements of state law applying to state banks.