Sec. 5. (a) Except as provided in subsection (b), the commissioner may not enter a final order:
(1) denying, suspending, or revoking the license of an applicant or a licensee; or
(2) imposing another sanction;
without prior notice to all interested parties, opportunity for a hearing, and written findings of fact and conclusions of law.
(b) The commissioner may, by summary order, deny, suspend, or revoke a license:
(1) pending final determination of a proceeding under this chapter; or
(2) before a proceeding is initiated under this chapter.
(c) Upon the entry of a summary order under subsection (b), the commissioner shall promptly notify all interested parties:
(1) that the summary order has been entered;
(2) of the reasons for the summary order; and
(3) that, upon receipt by the commissioner of a written request from a party, the matter will be set for hearing to commence not later than forty-five (45) business days after the commissioner's receipt of the request.
(d) If a hearing:
(1) is not requested under subsection (c); and
(2) is not ordered by the commissioner;
the summary order remains in effect until the summary order is modified or vacated by the commissioner.
(e) If a hearing is requested under subsection (c) or ordered by the commissioner, the commissioner may:
(1) after notice of the hearing has been given to all interested persons; and
(2) the hearing has been held;
modify or vacate the summary order or extend the summary order until final determination is made.
As added by P.L.175-2019, SEC.2. Amended by P.L.211-2019, SEC.31.
Structure Indiana Code
Title 23. Business and Other Associations
Chapter 11. Violations and Civil Enforcement
23-2.5-11-1. Permissive Actions; Denial of Licensure Application or Renewal; Suspension; Revocation
23-2.5-11-2. Required Actions; Denial of Licensure Application or Renewal; Suspension; Revocation
23-2.5-11-3. Investigation; Orders; Penalties
23-2.5-11-4. Censure; Permanent Bar
23-2.5-11-5. Notice Before Final Order
23-2.5-11-6. Implementation; Rules; Commissioner Actions
23-2.5-11-7. Immunity of Witness
23-2.5-11-8. Certificate of Compliance or Noncompliance
23-2.5-11-9. Court to Compel Obedience to Subpoena, Order, or Demand
23-2.5-11-10. Action to Enforce Penalty
23-2.5-11-11. Action to Enjoin; Other Relief
23-2.5-11-12. Appeal; Procedure
23-2.5-11-13. Admissibility of Copied Statements, Documents, and Records
23-2.5-11-14. Court Compelled Obedience to Subpoena, Order, or Demand
23-2.5-11-15. Contempt of Court; Liability for Damages; Contract Void
23-2.5-11-16. Securities Division and Department of Financial Institutions; Cooperation