Indiana § 28-8-4.1-406 Outside vendor providing services to licensee; department's authority
to examine; expense of examination; refusal to permit examination

Indiana Statutes

§ 28-8-4.1-406 — Outside vendor providing services to licensee; department's authority to examine; expense of examination; refusal to permit examination

Indiana § 28-8-4.1-406

Art. 8FINANCIAL SERVICES

Ch. 4.1Money Transmission Modernization Act

This text of Indiana § 28-8-4.1-406 (Outside vendor providing services to licensee; department's authority to examine; expense of examination; refusal to permit examination) 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 § 28-8-4.1-406 (2026).

Text

If a licensee contracts with an outside vendor to provide a service that would otherwise be undertaken internally by the licensee and be subject to the department's routine examination procedures, the person that provides the service to the licensee shall, at the request of the director, submit to an examination by the department. If the director determines that an examination under this section is necessary or desirable, the examination may be made at the expense of the person to be examined. If the person to be examined under this section refuses to permit the examination to be made, the director may order any licensee that receives services from the person refusing the examination to:

(1)discontinue receiving one (1) or more services from the person; or

(2)otherwise cease conducting b

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If a licensee contracts with an outside
vendor to provide a service that would otherwise be undertaken
internally by the licensee and be subject to the department's routine
examination procedures, the person that provides the service to the
licensee shall, at the request of the director, submit to an examination
by the department. If the director determines that an examination under
this section is necessary or desirable, the examination may be made at
the expense of the person to be examined. If the person to be examined
under this section refuses to permit the examination to be made, the
director may order any licensee that receives services from the person
refusing the examination to:
(1) discontinue receiving one (1) or more services from the
person; or
(2) otherwise cease conducting business with the person.