Sec. 5. (a) A principal manager designated by a loan broker under section 4 of this chapter may supervise not more than five (5) loan broker offices operated by the loan broker, including the principal place of business and any branch offices.
(b) A loan broker shall employ a sufficient number of additional principal managers designated as supervisors to accommodate any branch offices:
(1) operated by the loan broker; and
(2) in excess of the number permitted under subsection (a).
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