Indiana § 24-4.4-2-404.6 Factors for determining amount of civil penalty; indemnification by
creditor prohibited; deposit of civil penalties in financial institutions
fund

Indiana Statutes

§ 24-4.4-2-404.6 — Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund

Indiana § 24-4.4-2-404.6

Art. 4.4FIRST LIEN MORTGAGE LENDING

Ch. 2Miscellaneous

This text of Indiana § 24-4.4-2-404.6 (Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund) 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 § 24-4.4-2-404.6 (2026).

Text

6.

(1)The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer in a final order issued under section 404.4(3)(c) of this chapter:

(a)The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.

(b)The gravity of the practice, violation, or act.

(c)The history of previous practices, violations, or acts.

(d)The economic benefit derived by the individual from the practice, violation, or act.

(e)Other factors that justice requires.

(2)A creditor may not indemnify a director or an officer for a civil penalty imposed in a final order under section 404.4(3)(c) of this chapter.

(3)Civil penalties shal

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6. (1) The director or the department, as
appropriate, shall consider the following factors in determining the
amount of a civil penalty that should be assessed against a director or
an officer in a final order issued under section 404.4(3)(c) of this
chapter:
(a) The appropriateness of the civil penalty with respect to the
financial resources and good faith of the individual charged.
(b) The gravity of the practice, violation, or act.
(c) The history of previous practices, violations, or acts.
(d) The economic benefit derived by the individual from the
practice, violation, or act.
(e) Other factors that justice requires.
(2) A creditor may not indemnify a director or an officer for a civil
penalty imposed in a final order under section 404.4(3)(c) of this
chapter.
(3) Civil penalties shall be deposited in the financial institutions
fund established by IC 28-11-2-9.