§ 24-9-7-2 — Political subdivisions; prohibited practices

Indiana § 24-9-7-2

• Jurisdiction: Indiana
• Art. 9: HOME LOAN PRACTICES
• Ch. 7: State Power to Regulate Lending

Text

Political subdivisions may not:
(1) enact, issue, or enforce ordinances, resolutions, regulations,
orders, requests for proposals, or requests for bids pertaining to
financial or lending activities, including ordinances, resolutions,
and rules that disqualify persons from doing business with a
municipality and that are based upon lending terms or practices;
or
(2) impose reporting requirements or any other obligations upon
persons regarding financial services or lending practices or upon
subsidiaries or affiliates that:
(A) are subject to the jurisdiction of the department of financial
institutions;
(B) are subject to the jurisdiction or regulatory supervision of
the Board of Governors of the Federal Reserve System, the
Office of the Comptroller of the Currency, the National Credit
Union Administration, the Federal Deposit Insurance
Corporation, the Federal Trade Commission, or the United
States Department of Housing and Urban Development;
(C) are chartered by the United States Congress to engage in
secondary market mortgage transactions;
(D) are created by the Indiana housing and community
development authority; or
(E) originate, purchase, sell, assign, securitize, or service
property interests or obligations created by financial
transactions or loans made, executed, originated, or purchased
by persons referred to in clauses (A), (B), (C), or (D).

Legislative History

As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.417 and P.L.181-2006, SEC.59; P.L.27-2012, SEC.34.