§ 24-4.4-1-202.5 — Persons also engaging in activities of a loan broker; examination by department; cooperation with securities division

Indiana § 24-4.4-1-202.5

• Jurisdiction: Indiana
• Art. 4.4: FIRST LIEN MORTGAGE LENDING
• Ch. 1: General Provisions and Definitions

Text

5. (1) If a person licensed or required to
be licensed by the department to engage in mortgage transactions also
engages in activities of a loan broker described in IC 23-2.5, the
activities of a loan broker are subject to the following sections of the
Indiana Code and any rules adopted to implement these sections:
(a) IC 23-2.5-8-1, except for IC 23-2.5-8-1(b)(2).
(b) IC 23-2.5-8-2.
(c) IC 23-2.5-11-15(b) and IC 23-2.5-11-15(c).
(d) IC 23-2.5-11-17.
(e) IC 23-2.5-8-3.
(f) IC 23-2.5-8-4 through IC 23-2.5-8-9.
(g) IC 23-2.5-8-10.
(h) IC 23-2.5-10-1.
(i) IC 23-2.5-9-1.
(j) IC 23-2.5-11-16.
(2) Loan broker business transactions engaged in by persons
licensed or required to be licensed by the department to engage in
mortgage transactions are subject to examination by the department
and to the examination fees described in IC 24-4.4-2-402(8)(c). The
department may cooperate with the securities division of the office of
the secretary of state in the department's examination of loan broker
business transactions and may use the securities division's examiners
to conduct examinations.

Legislative History

As added by P.L.35-2010, SEC.7. Amended by P.L.186-2015, SEC.7; P.L.69-2018, SEC.2; P.L.175-2019, SEC.4; P.L.158-2022, SEC.9; P.L.89-2024, SEC.32.