§ 32-30-10.3-3 — Prohibited acts by political subdivisions

Indiana § 32-30-10.3-3

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 30: CAUSES OF ACTION CONCERNING REAL
• Ch. 10.3: State Regulation of Mortgage Foreclosures

Text

A political subdivision may not do any of
the following:
(1) Enact, issue, or enforce ordinances, resolutions, regulations,
orders, requests for proposals, or requests for bids pertaining to
mortgage foreclosure activities or practices and rules that
disqualify persons from doing business with a municipality and
that are based upon mortgage foreclosure activities or practices.
(2) Impose reporting requirements or any other obligations upon
persons regarding mortgage foreclosure activities or 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, the United States
Department of Housing and Urban Development or the Federal
Housing Finance Agency;
(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.247-2015, SEC.28.