§ 23-2.5-6-1 — Academic education required for licensure

Indiana § 23-2.5-6-1

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 2.5: LOAN BROKERS
• Ch. 6: Education and Examination

Text

(a) An applicant for an initial license under IC 23-2.5-4 shall provide to the commissioner evidence that, during the
twenty-four (24) month period immediately preceding the application,
the applicant completed at least twenty (20) hours of academic
education that is acceptable to the commissioner and approved by the
Nationwide Multistate Licensing System.
(b) The education hours required by subsection (a) must include the
following:
(1) Three (3) hours of federal law and regulations concerning
residential mortgage lending.
(2) Three (3) hours of ethics, including instruction on fraud,
consumer protection, and fair lending practices.
(3) Two (2) hours of training concerning lending standards for
nontraditional residential mortgage loan products.
(4) Two (2) hours of state law and rules concerning residential
mortgage lending.

Legislative History

As added by P.L.175-2019, SEC.2.