Indiana § 28-8-4.1-403 Director's authority to conduct examinations and investigations; access
to records; costs of examination; persons operating without a license

Indiana Statutes

§ 28-8-4.1-403 — Director's authority to conduct examinations and investigations; access to records; costs of examination; persons operating without a license

Indiana § 28-8-4.1-403

Art. 8FINANCIAL SERVICES

Ch. 4.1Money Transmission Modernization Act

This text of Indiana § 28-8-4.1-403 (Director's authority to conduct examinations and investigations; access to records; costs of examination; persons operating without a license) 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 § 28-8-4.1-403 (2026).

Text

(a)The director may conduct an examination or investigation of a licensee or an authorized delegate or otherwise take independent action authorized by this chapter, or by a rule adopted or order issued under this chapter, as reasonably necessary or appropriate to administer and enforce this chapter, regulations implementing this chapter, and other applicable law, including the Bank Secrecy Act and the USA Patriot Act of 2001 (P.L. 107-56). The director may:

(1)conduct an examination either onsite or offsite as the director may reasonably require;

(2)conduct an examination in conjunction with an examination conducted by other state agencies or agencies of another state or of the federal government;

(3)accept the examination report of another state agency or an agency of another state or

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(a) The director may conduct an
examination or investigation of a licensee or an authorized delegate or
otherwise take independent action authorized by this chapter, or by a
rule adopted or order issued under this chapter, as reasonably necessary
or appropriate to administer and enforce this chapter, regulations
implementing this chapter, and other applicable law, including the
Bank Secrecy Act and the USA Patriot Act of 2001 (P.L. 107-56). The
director may:
(1) conduct an examination either onsite or offsite as the director
may reasonably require;
(2) conduct an examination in conjunction with an examination
conducted by other state agencies or agencies of another state or
of the federal government;
(3) accept the examination report of another state agency or an
agency of another state or of the federal government, or a report
prepared by an independent accounting firm, with any such report
considered, upon being accepted and for all purposes, as an
official report of the director; and
(4) summon and examine under oath a key individual or employee
of a licensee or authorized delegate and require the person to
produce records regarding any matter related to the condition and
business of the licensee or authorized delegate.
(b) A licensee or an authorized delegate shall provide, and the
director shall have full and complete access to, all records the director
may reasonably require to conduct a complete examination. The
records must be provided at the location and in the format specified by
the director. The director may use multistate record production
standards and examination procedures when those standards will
reasonably achieve the purposes of this subsection.
(c) Unless otherwise directed by the director, a licensee shall pay all
costs reasonably incurred in connection with an examination of the
licensee or the licensee's authorized delegates.
(d) The director shall determine the sufficiency of the licensee's
records and whether the licensee has made the required information
reasonably available.
(e) To discover violations of this chapter, the director may
investigate and examine the records of any person the director believes
is operating without a license, when a license is required under this
chapter. The person examined must pay the reasonably incurred costs
of the examination.