Sec. 6. (a) A principal manager shall complete at least one (1) compliance examination per year of each loan broker office for which the principal manager is the supervisor designated under section 4 of this chapter.
(b) A loan broker shall maintain complete documentation of each examination conducted by a principal manager under subsection (a):
(1) at the principal place of business; and
(2) for a minimum of five (5) years after the calendar year in which the examination is completed.
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