§ 23-19-6-9 — Appeals from orders; transcripts; trial de novo

Indiana § 23-19-6-9

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 19: INDIANA UNIFORM SECURITIES ACT
• Ch. 6: Administration and Judicial Review

Text

(a) An appeal may be taken by:
(1) any issuer, investment adviser, or registered broker-dealer
whose application for registration of an issue of securities may
have been granted or denied, from any final order of the
commissioner respecting that application or registration;
(2) any applicant for registration as a broker-dealer, investment
adviser, or agent of any registered broker-dealer, investment
advisor, or agent, from any final order of the commissioner
affecting the application or registration as a broker-dealer,
investment adviser, or agent;
(3) any person against whom a civil penalty has been imposed
under section 3(b) or 4(d) of this chapter, from the final order of
the commissioner imposing the civil penalty; or
(4) any person who is named a respondent, from any final order
issued by the commissioner under section 2, 3, or 4 of this
chapter;
to the circuit or superior court of Marion County or the county wherein
the person taking the appeal resides or maintains a place of business.
(b) Within twenty (20) days after the entry of the order, the
commissioner shall be served with:
(1) a written notice of the appeal stating the court to which the
appeal will be taken and the grounds upon which a reversal of the
final order is sought;
(2) a demand in writing for a certified transcript of the record and
of all papers on file in the commissioner's office affecting or
relating to the order; and
(3) a bond in the penal sum of five hundred dollars ($500) to the
state of Indiana with sufficient surety to be approved by the
commissioner, conditioned upon the faithful prosecution of the
appeal to final judgment and the payment of all costs that shall be
adjudged against the appellant.
(c) After the commissioner has been served with the items specified
in subsection (b), the commissioner shall within ten (10) days make,
certify, and deliver to the appellant the transcript, and the appellant
shall within five (5) days file the same and a copy of the notice of
appeal with the clerk of the court, which notice of appeal shall stand as
appellant's complaint, and the commissioner may appear and file any
motion or pleading and form the issue. The cause shall be entered on
the trial calendar for trial de novo and given precedence over all
matters pending in the court.
(d) The court shall receive and consider any pertinent evidence,
whether oral or documentary, concerning the order of the commissioner
from which the appeal is taken. If the order of the commissioner is
reversed, the court shall in its mandate specifically direct the
commissioner as to the commissioner's further action in the matter,
including the making and entering of any order or orders in connection
therewith and the conditions, limitations, or restrictions to be
contained. The commissioner is not barred from revoking or altering
the order for any proper cause that may thereafter accrue or be
discovered. If the order is affirmed, the appellant is not barred after
thirty (30) days from filing a new application if the application is not
otherwise barred or limited. The appeal shall not in any way suspend
the operation of the order appealed from during the pendency of the
appeal unless upon proper order of the court. An appeal may be taken
from the judgment of the court on any appeal on the same terms and
conditions as an appeal is taken in civil actions.

Legislative History

As added by P.L.27-2007, SEC.23.