Indiana § 28-7-5-5 Initial and renewal applications; fees; financial statement; proof of
bond and insurance; standards; tax warrant list

Indiana Statutes

§ 28-7-5-5 — Initial and renewal applications; fees; financial statement; proof of bond and insurance; standards; tax warrant list

Indiana § 28-7-5-5

Art. 7SPECIALIZED FINANCIAL INSTITUTIONS

Ch. 5Pawnbrokers

This text of Indiana § 28-7-5-5 (Initial and renewal applications; fees; financial statement; proof of bond and insurance; standards; tax warrant list) 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 § 28-7-5-5 (2026).

Text

(a)The initial application and any renewal application shall be accompanied by a fee fixed by the department under IC 28-11-3-5. The initial application and any renewal application must include a financial statement that:

(1)is prepared in accordance with standards adopted by the director;

(2)indicates the applicant meets minimum financial responsibility standards adopted by the director; and

(3)is prepared by a third party acceptable to the director.

(b)The initial application and any renewal application must be accompanied by proof that the applicant:

(1)has executed a bond in accordance with section 5.5 of this chapter and payable to the state, in an amount determined by the director; and

(2)has obtained property and casualty insurance coverage, in an amount determined by the dir

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(a) The initial application and any renewal
application shall be accompanied by a fee fixed by the department
under IC 28-11-3-5. The initial application and any renewal application
must include a financial statement that:
(1) is prepared in accordance with standards adopted by the
director;
(2) indicates the applicant meets minimum financial responsibility
standards adopted by the director; and
(3) is prepared by a third party acceptable to the director.
(b) The initial application and any renewal application must be
accompanied by proof that the applicant:
(1) has executed a bond in accordance with section 5.5 of this
chapter and payable to the state, in an amount determined by the
director; and
(2) has obtained property and casualty insurance coverage, in an
amount determined by the director;
in accordance with standards adopted by the director.
(c) Any standards adopted by the director and described in
subsection (a)(1), (a)(2), or (b) must be made available:
(1) for public inspection and copying at the offices of the
department under IC 5-14-3; and
(2) electronically through the computer gateway administered by
the office of technology established by IC 4-13.1-2-1.
(d) If the department of state revenue notifies the department that a
person is on the most recent tax warrant list, the department shall not
issue or renew the person's license until:
(1) the person provides to the department a statement from the
department of state revenue that the person's tax warrant has been
satisfied; or
(2) the department receives a notice from the commissioner of the
department of state revenue under IC 6-8.1-8-2(k).
Formerly: Acts 1935, c.195, s.5. As amended by P.L.14-1992,
SEC.134; P.L.42-1993, SEC.75; P.L.45-1995, SEC.23; P.L.80-1998,
SEC.12; P.L.10-2006, SEC.40 and P.L.57-2006, SEC.40;
P.L.172-2011, SEC.133; P.L.216-2013, SEC.35.