INDIANA FINANCIAL INVESTORS INC
15-15D, 1995-07-10
INVESTORS, NEC
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                        SECURITIES ACT OF 1934                            
                                              
                             UNITED STATES 
                   SECURITIES AND EXCHANGE COMMISSION             
                        Washington, D.C. 20549                    


                             FORM 15

CERTIFICATION AND NOTICE  OF  TERMINATION  OF  REGISTRATION  UNDER 
SECTION  12(g) OF  THE SECURITIES EXCHANGE  ACT OF  1934  OR 
SUSPENSION  OF  DUTY  TO  FILE   REPORTS  UNDER  SECTIONS  13 AND 
15(d)  OF  THE  SECURITIES  EXCHANGE  ACT  OF  1934.



                                  Commission File Number: 0-7479

               INDIANA FINANCIAL INVESTORS, INC.
     (Exact name of registrant as specified in its charter)

      55 East Monroe Street, Suite 1600, Chicago, IL 60603
(Address, including zip code, and telephone number, including area
code, of registrant's principal executive offices)

                   Common Stock No Par Value
    (Title of each class of securities covered by this Form)



         (Titles of all other classes of securities for which a duty
to file reports under section 13(a) or 15(d) remains)

         Please place an X in the box(es) to designate, the
appropriate rule provision(s) relied upon to terminate or suspend the
duty to file reports:



Rule 12g-4(a)(1)(i)                              Rule 12h-3(b)(1)(i)      X
Rule 12g-4(a)(1)(ii)                             Rule 12h-3(b)(1)(ii)     
Rule 12g-4(a)(2)(i)                              Rule 12h-3(b)(2)(i)
Rule 12g-4(a)(2)(ii)                             Rule 12h-3(b)(2)(ii)  
              		                                 Rule 15d-6



         Approximate number of holders of record as of the
certification or notice date: 149

         Pursuant to the requirements of the Securities Exchange Act
of 1934 (Name of registrant as specified in charter) has caused this
certification/notice to be signed on its behalf  by the undersigned
duly authorized person.



Date: July 10, 1995     By: /s/ Gerald M. Tierney, Jr., Secretary

Instruction:  This form is required by Rules 12g4, 12h-3 and 15d-6 of
the General Rules and Regulations under the Securities Exchange Act of
19 The registrant shall  file with the Commission three copies of 
Form 15, one of  which shall be manually signed.  It may be signed by
an office registrant, by counsel or by any other duly authorized
person.  The name and title of the person signing  the form shall be
typed or printed un signature.  




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