§ 24-4.5-3-501.5 — Persons also engaging in activities of a loan broker; examination by department; cooperation with securities division

Indiana § 24-4.5-3-501.5

• Jurisdiction: Indiana
• Art. 4.5: UNIFORM CONSUMER CREDIT CODE
• Ch. 3: Loans

Text

5. (1) If a person licensed or required to
be licensed under section 502.1 of this chapter 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 under section 502.1 of this chapter
are subject to examination by the department and to the examination
fees described in section 503(8)(b) of this chapter. 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.186-2015, SEC.15. Amended by P.L.175-2019, SEC.7; P.L.158-2022, SEC.10; P.L.89-2024, SEC.33.