Indiana § 28-8-4.1-401 Authority of director of department of financial institutions; authority
of department

Indiana Statutes

§ 28-8-4.1-401 — Authority of director of department of financial institutions; authority of department

Indiana § 28-8-4.1-401

Art. 8FINANCIAL SERVICES

Ch. 4.1Money Transmission Modernization Act

This text of Indiana § 28-8-4.1-401 (Authority of director of department of financial institutions; authority of department) 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 § 28-8-4.1-401 (2026).

Text

(a)To carry out the purposes of this chapter, the director may, subject to section 402(a) and 402(b) of this chapter, do any of the following:

(1)Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations in order to improve efficiencies and reduce regulatory burden by:

(A)standardizing methods or procedures; and

(B)sharing resources, records, or related information obtained under this chapter.

(2)Use, contract for, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter.

(3)Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by those other state or federal government agencies o

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(a) To carry out the purposes of this
chapter, the director may, subject to section 402(a) and 402(b) of this
chapter, do any of the following:
(1) Enter into agreements or relationships with other government
officials or federal and state regulatory agencies and regulatory
associations in order to improve efficiencies and reduce
regulatory burden by:
(A) standardizing methods or procedures; and
(B) sharing resources, records, or related information obtained
under this chapter.
(2) Use, contract for, or employ analytical systems, methods, or
software to examine or investigate any person subject to this
chapter.
(3) Accept, from other state or federal government agencies or
officials, licensing, examination, or investigation reports made by
those other state or federal government agencies or officials.
(4) Accept audit reports made by an independent certified public
accountant or another qualified third party auditor for an applicant
or licensee and incorporate the audit report in any report of
examination or investigation.
(b) The department has broad administrative authority to:
(1) administer, interpret, and enforce this chapter;
(2) promulgate rules or regulations implementing this chapter;
and
(3) recover the cost of administering and enforcing this chapter by
imposing and collecting proportionate and equitable fees and
costs associated with applications, examinations, investigations,
and other actions required to achieve the purpose of this chapter.