Indiana § 24-4.5-6-124 Factors for determining amount of civil penalty; indemnification by
creditor prohibited; deposit of civil penalties in financial institutions
fund

Indiana Statutes

§ 24-4.5-6-124 — Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund

Indiana § 24-4.5-6-124

Art. 4.5UNIFORM CONSUMER CREDIT CODE

Ch. 6Administration

This text of Indiana § 24-4.5-6-124 (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 § 24-4.5-6-124 (2026).

Text

(a)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 under section 122(c)(3) of this chapter:

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

(2)The gravity of the practice, violation, or breach.

(3)The history of previous practices, violations, or breaches.

(4)The economic benefit derived by the individual from the practice, violation, or breach.

(5)Other factors that justice requires.

(b)A creditor may not indemnify a director or an officer for a civil penalty imposed against the director or officer under this section.

(c)Civil penalties shall be deposited in the finan

Free access — add to your briefcase to read the full text and ask questions with AI

(a) 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 under section 122(c)(3) of this chapter:
(1) The appropriateness of the civil penalty with respect to the
financial resources and good faith of the individual charged.
(2) The gravity of the practice, violation, or breach.
(3) The history of previous practices, violations, or breaches.
(4) The economic benefit derived by the individual from the
practice, violation, or breach.
(5) Other factors that justice requires.
(b) A creditor may not indemnify a director or an officer for a civil
penalty imposed against the director or officer under this section.
(c) Civil penalties shall be deposited in the financial institutions
fund established by IC 28-11-2-9.