Indiana § 23-2.5-11-2 Required actions; denial of licensure application or renewal;
suspension; revocation

Indiana Statutes

§ 23-2.5-11-2 — Required actions; denial of licensure application or renewal; suspension; revocation

Indiana § 23-2.5-11-2

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2.5LOAN BROKERS

Ch. 11Violations and Civil Enforcement

This text of Indiana § 23-2.5-11-2 (Required actions; denial of licensure application or renewal; suspension; revocation) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-2.5-11-2 (2026).

Text

The commissioner shall deny an application for an initial or a renewal license under this article, and shall revoke the license of a licensee, if the applicant, the licensee, or an ultimate equitable owner of a loan broker or an applicant for a loan broker license:

(1)has had a:

(A)loan broker license issued under this article;

(B)mortgage loan originator license issued under this article; or

(C)license that is:

(i)equivalent to a license described in clause (A) or (B); and

(ii)issued by another jurisdiction; revoked by the commissioner or the appropriate regulatory agency in another jurisdiction, whichever applies;

(2)has been convicted of or pleaded guilty or nolo contendere to a felony in a domestic, foreign, or military court:

(A)during the seven (7) year period immediately pre

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The commissioner shall deny an application
for an initial or a renewal license under this article, and shall revoke the
license of a licensee, if the applicant, the licensee, or an ultimate
equitable owner of a loan broker or an applicant for a loan broker
license:
(1) has had a:
(A) loan broker license issued under this article;
(B) mortgage loan originator license issued under this article;
or
(C) license that is:
(i) equivalent to a license described in clause (A) or (B); and
(ii) issued by another jurisdiction;
revoked by the commissioner or the appropriate regulatory agency
in another jurisdiction, whichever applies;
(2) has been convicted of or pleaded guilty or nolo contendere to
a felony in a domestic, foreign, or military court:
(A) during the seven (7) year period immediately preceding the
date of the application or renewal; or
(B) at a time preceding the date of the application or renewal if
the felony involved an act of fraud or dishonesty, a breach of
trust, or money laundering;
(3) fails to maintain the bond required by IC 23-2.5-4-12;
(4) fails to demonstrate the financial responsibility, character, and
general fitness necessary to:
(A) command the confidence of the community in which the
applicant or licensee engages or will engage in the activities of
a loan broker; and
(B) warrant a determination by the commissioner that the
applicant or licensee will operate honestly, fairly, and
efficiently according to the requirements of this article;
(5) has failed to meet the education requirements set forth in IC 23-2.5-6;
(6) has failed to pass the written examination required by IC 23-2.5-6; or
(7) fails to:
(A) keep or maintain records in accordance with IC 23-2.5-8;
or
(B) allow the commissioner or an agent appointed by the
commissioner to inspect or examine a loan broker's books and
records to determine compliance with IC 23-2.5-8.