Indiana § 23-2.5-4-1 Loan broker license application requirements

Indiana Statutes

§ 23-2.5-4-1 — Loan broker license application requirements

Indiana § 23-2.5-4-1

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2.5LOAN BROKERS

Ch. 4License Issuance and Renewal

This text of Indiana § 23-2.5-4-1 (Loan broker license application requirements) 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 § 23-2.5-4-1 (2026).

Text

(a)An application for issuance or renewal of a loan broker license must contain the following:

(1)Consent to service of process under section 9 of this chapter.

(2)Evidence of the bond required by section 12 of this chapter.

(3)An application fee of two hundred dollars ($200), plus one hundred dollars ($100) for each ultimate equitable owner.

(4)An affidavit affirming that none of the applicant's ultimate equitable owners, directors, managers, or officers have been convicted, in any jurisdiction, of:

(A)a felony during the previous seven (7) years; or

(B)an offense involving fraud or deception that is punishable by at least one (1) year of imprisonment; unless the affidavit is waived by the commissioner under subsection (b).

(5)Evidence that the applicant, if the applicant is an in

Free access — add to your briefcase to read the full text and ask questions with AI

(a) An application for issuance or renewal of
a loan broker license must contain the following:
(1) Consent to service of process under section 9 of this chapter.
(2) Evidence of the bond required by section 12 of this chapter.
(3) An application fee of two hundred dollars ($200), plus one
hundred dollars ($100) for each ultimate equitable owner.
(4) An affidavit affirming that none of the applicant's ultimate
equitable owners, directors, managers, or officers have been
convicted, in any jurisdiction, of:
(A) a felony during the previous seven (7) years; or
(B) an offense involving fraud or deception that is punishable
by at least one (1) year of imprisonment;
unless the affidavit is waived by the commissioner under
subsection (b).
(5) Evidence that the applicant, if the applicant is an individual,
has completed the education requirements under IC 23-2.5-6.
(6) The name and license number of each mortgage loan
originator to be employed by the loan broker.
(7) The name and license number of each manager to be
employed by the loan broker.
(8) The location of each loan broker office to be operated by the
loan broker. If the loan broker operates only one (1) loan broker
office or one (1) location at which mortgage loan origination
activities occur, that location must be designated as the loan
broker's principal place of business.
(9) The name of the individual employed by the loan broker who
will serve as branch manager for any branch office operated by
the loan broker.
(10) For each ultimate equitable owner, the following
information:
(A) The name of the ultimate equitable owner.
(B) The address of the ultimate equitable owner, including the
home address of the ultimate equitable owner if the ultimate
equitable owner is an individual.
(C) The telephone number of the ultimate equitable owner,
including the home telephone number if the ultimate equitable
owner is an individual.
(D) The ultimate equitable owner's Social Security number and
date of birth, if the ultimate equitable owner is an individual.
(b) Upon good cause shown, the commissioner may waive the
requirements of subsection (a)(4) for one (1) or more of an applicant's
ultimate equitable owners, directors, managers, or officers.