§ 23-2-6-28 — Investigations; examinations; hearings; civil penalties

Indiana § 23-2-6-28

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 2: SECURITIES AND FRANCHISES
• Ch. 6: Indiana Commodity Code

Text

(a) The commissioner may make
investigations in or outside Indiana that the commissioner finds
necessary or appropriate to:
(1) determine whether any person has violated or is about to
violate this chapter or any rule or order of the commissioner; or
(2) aid in the enforcement of this chapter.
(b) The commissioner may charge as costs of an investigation or
examination all reasonable expenses, including a per diem prorated on
the salary of the commissioner or an employee. All reasonable
expenses of investigation, examination, or hearing shall be paid by the
party under investigation or examination.
(c) The commissioner may publish information concerning any
violation of this chapter or any rule or order of the commissioner. The
commissioner shall upon request make available for inspection and
copying under IC 5-14-3 information concerning any violation of this
chapter or any rule or order of the commissioner.
(d) For purposes of an investigation or a proceeding under this
chapter, the commissioner or an officer or employee designated by rule
or order may do any of the following:
(1) Administer oaths and affirmations.
(2) Subpoena witnesses and compel the attendance of witnesses.
(3) Take evidence.
(4) Require the production of books, papers, correspondence,
memoranda, agreements, or other documents or records that the
commissioner finds to be relevant or material to the investigation
or proceeding.
(e) If a person does not give testimony or produce the documents
required by the commissioner or the commissioner's designee under an
administrative subpoena, the commissioner or the designee may
petition for a court order compelling compliance with the subpoena or
the giving of the required testimony.
(f) A petition for an order of compliance under subsection (e) may
be filed in any of the following:
(1) The circuit or superior court of a county containing a
consolidated city.
(2) The circuit or superior court where service may be obtained on
the person refusing to comply with the subpoena if the person is
within Indiana.
(3) The appropriate court of the state having jurisdiction over the
person refusing to comply with the subpoena if the person is
outside Indiana.
(g) Costs of investigations, examinations, and hearings and civil
penalties recovered under this chapter shall be deposited in the
securities division enforcement account established under IC 23-19-6-1(f). With the approval of the budget agency, the funds in the
securities division enforcement account may be used to augment and
supplement the funds appropriated for the administration of this
chapter.

Legislative History

As added by P.L.177-1991, SEC.10. Amended by P.L.27-2007, SEC.21.