Sec. 5. (a) The initial application and any renewal application shall be accompanied by a fee fixed by the department under IC 28-11-3-5. The initial application and any renewal application must include a financial statement that:
(1) is prepared in accordance with standards adopted by the director;
(2) indicates the applicant meets minimum financial responsibility standards adopted by the director; and
(3) is prepared by a third party acceptable to the director.
(b) The initial application and any renewal application must be accompanied by proof that the applicant:
(1) has executed a bond in accordance with section 5.5 of this chapter and payable to the state, in an amount determined by the director; and
(2) has obtained property and casualty insurance coverage, in an amount determined by the director;
in accordance with standards adopted by the director.
(c) Any standards adopted by the director and described in subsection (a)(1), (a)(2), or (b) must be made available:
(1) for public inspection and copying at the offices of the department under IC 5-14-3; and
(2) electronically through the computer gateway administered by the office of technology established by IC 4-13.1-2-1.
(d) If the department of state revenue notifies the department that a person is on the most recent tax warrant list, the department shall not issue or renew the person's license until:
(1) the person provides to the department a statement from the department of state revenue that the person's tax warrant has been satisfied; or
(2) the department receives a notice from the commissioner of the department of state revenue under IC 6-8.1-8-2(k).
Formerly: Acts 1935, c.195, s.5. As amended by P.L.14-1992, SEC.134; P.L.42-1993, SEC.75; P.L.45-1995, SEC.23; P.L.80-1998, SEC.12; P.L.10-2006, SEC.40 and P.L.57-2006, SEC.40; P.L.172-2011, SEC.133; P.L.216-2013, SEC.35.
Structure Indiana Code
Title 28. Financial Institutions
Article 7. Specialized Financial Institutions
28-7-5-3. Necessity of License; Misleading Representations; Territorial Application
28-7-5-5.5. Surety Bond; Requirements; Amount; Termination; Liability; Notices
28-7-5-9. License Not Transferrable or Assignable; Branch Locations
28-7-5-10.4. Carrying on Other Business
28-7-5-10.6. Felony Convictions or Pleas; Notice to Department
28-7-5-11. License Renewal; Application; Fees
28-7-5-13.1. Failure to File Renewal Form or Pay Renewal Fee; Revocation or Suspension of License
28-7-5-15. Investigatory and Enforcement Authority; Costs of Investigation; Voided Loans
28-7-5-15.1. Applicability of Law Governing Administrative Orders and Procedures; Venue
28-7-5-19. Loan Record Requisites; Data Recording Methods
28-7-5-20. Signature and Thumbprint of Pledger; Electronic Record
28-7-5-21. Pawn Ticket; Duty of Reasonable Care in Safekeeping of Articles
28-7-5-21.5. Required Disclosure of Information
28-7-5-23. Redemption by Mail; Compliance With Local Ordinance or Law Concerning Pledge Retention
28-7-5-24. Partial Payment Before Maturity
28-7-5-25. Loss, Destruction, or Theft of Pawn Ticket
28-7-5-26. Alteration of Pawn Ticket; Effect
28-7-5-28.5. Additional Charge; Servicing Fee
28-7-5-29. Liability for Loss to Pledger; Due Care
28-7-5-29.5. Waiver of Rights Not Permitted
28-7-5-34. Delivery of Pledge; Necessity of Surrender of Pawn Ticket
28-7-5-35. Conflicting Claims; Sale of Pledge Subject to Adjudication
28-7-5-36. Unlawful Transactions
28-7-5-37.5. Compliance With Money Laundering Laws; Investigation and Enforcement by the Department
28-7-5-38. Violations; Civil Action; Injunctive Relief; Civil Penalties