§ 24-10-2-1 — Consumer protection assistance fund

Indiana § 24-10-2-1

• Jurisdiction: Indiana
• Art. 10: CONSUMER PROTECTION ASSISTANCE FUND
• Ch. 2: Establishment and Purposes of Fund

Text

(a) The consumer protection assistance fund is
established for the purpose of compensating qualifying individuals who
submit qualifying claims to the office. The fund shall be administered
by the office.
(b) The fund consists of:
(1) appropriations made to the fund by the general assembly;
(2) grants, gifts, and donations intended for deposit in the fund;
and
(3) at the discretion of the office, money recovered or received by
the office for consumer protection purposes if use of the money
is not otherwise restricted.
(c) Money in the fund may be used to make payments to qualifying
individuals who file qualifying claims with the office in connection
with a case involving a violation by one (1) or more other persons of
any of the following statutes, including rules adopted under the
authority of the following statutes:
(1) IC 24-4.7 (concerning telephone solicitation of consumers) if
the case concerns a violation involving telephone solicitations
made in connection with any practice or transaction governed by
a statute described in subdivisions (2) through (4).
(2) IC 24-5-15 (concerning credit services organizations).
(3) IC 24-5.5 (concerning mortgage rescue fraud).
(4) IC 24-9 (concerning home loan practices).
(d) The expenses of administering the fund shall be paid from
money in the fund.
(e) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public money may be invested. Interest that accrues
from these investments shall be deposited in the fund.
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.

Legislative History

As added by P.L.121-2011, SEC.2.