§ 24-4.5-6-105 — Administrative powers with respect to depository institutions

(1) With respect to depository
institutions, the powers of examination and investigation (IC 24-4.5-6-106) and administrative enforcement (IC 24-4.5-6-108) shall
be exercised by the department. The department may, at its discretion,
accept any examination of any financial institution made by a federal
authority in lieu of the examination made under the provisions of this
article. All other powers of the department under this article may be
exercised by the director with respect to a depository institution.
(2) If the department receives a complaint or other information
concerning noncompliance with this article by a depository institution,
the director shall inform the official or agency having supervisory
authority over the organization concerned. The department may request
information about depository institutions from the officials or agencies
supervising them.
(3) The department and any official or agency of this state having
supervisory authority over a depository institution are authorized and
directed to consult and assist one another in maintaining compliance
with this article. They may jointly pursue investigations, prosecute
suits, and take other official action, as they deem appropriate, if either
of them otherwise is empowered to take the action.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by
P.L.14-1992, SEC.47; P.L.35-2010, SEC.65.