Sec. 11. (a) A loan broker shall diligently review work performed on the loan broker's behalf by a loan processing company.
(b) A loan broker that fails to take reasonable steps to review work performed by a loan processing company on the loan broker's behalf may subject the loan broker to discipline under IC 23-2.5-11.
As added by P.L.175-2019, SEC.2.
Structure Indiana Code
Title 23. Business and Other Associations
Chapter 7. Loan Broker Offices and Personnel
23-2.5-7-2. Loan Processing Activities; Notice Filing Required
23-2.5-7-3. Loan Processor or Underwriter Activities; Representation to Public
23-2.5-7-4. Responsibilities of Principal Manager
23-2.5-7-5. Principal Manager; Supervising Activities Limitation
23-2.5-7-6. Annual Loan Broker Office Compliance Examinations
23-2.5-7-7. Branch Office Manager
23-2.5-7-8. Loan Broker Employees; Steps to Prevent Violation
23-2.5-7-9. Principal Manager; Steps to Prevent Violation
23-2.5-7-10. Branch Manager; Steps to Prevent Violation
23-2.5-7-11. Loan Broker Review of Loan Processing Company Work