(a)The commissioner may do the following:
(1)Issue forms and orders to implement this article.
(2)Adopt rules under IC 4-22-2 to implement this article.
(3)Repeal rules, including rules and forms governing
applications, notice filings, reports, and other records.
(4)Define terms consistent with this article, whether or not used
in this article.
(5)Conduct investigations and examinations:
(A)in connection with an application for licensure, or a license
issued, under this article;
(B)whenever it appears to the commissioner, upon the basis of
a complaint or information, that reasonable grounds exist for
the belief that an investigation or examination is necessary or
advisable for the more complete protection of the interests of
the public; and
(C)including investigations and examinat
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(a) The commissioner may do the following:
(1) Issue forms and orders to implement this article.
(2) Adopt rules under IC 4-22-2 to implement this article.
(3) Repeal rules, including rules and forms governing
applications, notice filings, reports, and other records.
(4) Define terms consistent with this article, whether or not used
in this article.
(5) Conduct investigations and examinations:
(A) in connection with an application for licensure, or a license
issued, under this article;
(B) whenever it appears to the commissioner, upon the basis of
a complaint or information, that reasonable grounds exist for
the belief that an investigation or examination is necessary or
advisable for the more complete protection of the interests of
the public; and
(C) including investigations and examinations of a loan broker
office, principal place of business, branch office, location listed
in a mortgage loan originator's application under IC 23-2.5-4-3,
appraisal company, or loan processing company.
(6) Charge, as costs of investigation or examination, reasonable
expenses including:
(A) a per diem prorated on the salary of the:
(i) commissioner; or
(ii) employee performing the investigation or examination;
and
(B) actual travel and hotel expenses;
to be paid by the person that is under investigation or examination
and that is determined to have violated this article.
(7) After conducting an investigation or examination, issue
notices and orders, including cease and desist notices and orders.
A notice or order issued under this subdivision must include the
following:
(A) Notice that the notice or order is issued.
(B) Notice that if the commissioner receives from the person a
written request for a hearing concerning the notice or order, a
hearing will be set not later than:
(i) fifteen (15) business days after the commissioner receives
the request if the original order issued by the commissioner
was a summary suspension, summary revocation, or denial of
a license; and
(ii) forty-five (45) business days after the commissioner
receives the request for an order not described in item (i).
(8) Sign, or delegate to a deputy commissioner the authority to
sign orders, official certifications, documents, or papers issued
under this article.
(9) Hold and conduct hearings.
(10) Hear evidence.
(11) Conduct inquiries, with or without hearings.
(12) Receive reports of investigators or other officers or
employees of the state or a municipal corporation or
governmental subdivision in Indiana.
(13) Administer, or cause to be administered, oaths.
(14) Subpoena witnesses and compel witnesses to attend and
testify.
(15) Compel the production of books, records, and other
documents.
(16) Order depositions to be:
(A) taken of witnesses that reside in Indiana or elsewhere;
(B) taken in the manner prescribed by law for depositions in
civil actions; and
(C) made returnable to the commissioner.
(17) Order the same fees and mileage allowances provided for
witnesses in civil cases to be paid to each witness who appears
under the commissioner's order to testify before the
commissioner.
(18) Provide interpretive opinions or issue determinations that the
commissioner will not institute a proceeding or an action under
this article against a specified person for engaging in a specified
act, practice, or course of business if:
(A) the request for the interpretive opinion or determination is
made after the date on which the specified act, practice, or
course of business occurs; and
(B) the interpretive opinion or determination is consistent with
this article.
(19) Adopt rules to establish fees for individuals requesting an
interpretive opinion or a determination under subdivision (18).
(20) Subject to subsection (b):
(A) designate a multistate automated licensing system and
repository (including the Nationwide Multistate Licensing
System), established and operated by a third party, to serve as
the sole entity responsible for:
(i) processing applications for license issuance and renewal
under this article; and
(ii) performing other services that the commissioner
determines are necessary for the orderly administration of the
securities division's licensing system; and
(B) take action necessary to allow the securities division to
participate in a multistate automated licensing system and
repository described in clause (A).
(b) The commissioner's authority to designate a multistate
automated licensing system and repository under subsection (a)(20) is
subject to the following:
(1) The commissioner may not require:
(A) a person that is not required to be licensed under this
article; or
(B) an employee or agent of a person that is not required to be
licensed under this article;
to submit information to or participate in the multistate automated
licensing system and repository.
(2) The commissioner may require a person that is required under
this article to submit information to the multistate automated
licensing system and repository to pay a processing fee considered
to be reasonable by the commissioner.
(c) The commissioner shall do the following:
(1) Subject to IC 5-14-3, regularly report:
(A) violations of this article; and
(B) enforcement actions and other relevant information;
to the Nationwide Multistate Licensing System.
(2) Establish a process by which a mortgage loan originator may
challenge information entered by the commissioner into the
Nationwide Multistate Licensing System.