Indiana Code
Chapter 4. Money Transmitters
28-8-4-51. Suspension and Barring of Authorized Delegates

Sec. 51. (a) If, after notice and a hearing, the director finds that an authorized delegate of a licensee or a director, an officer, an employee, or a controlling person of the authorized delegate:
(1) has violated any provision of this chapter or order issued under this chapter;
(2) has engaged or participated in any unsafe or unsound act with respect to the business of:
(A) selling or issuing payment instruments of the licensee; or
(B) money transmission;
(3) has made or caused to be made in an application or report filed with the director or in any proceeding before the director, any statement that was at the time and in the circumstances under which it was made, false or misleading with respect to any material fact; or
(4) has omitted to state in an application or report filed with the director a material fact that is required to be stated in the application or report;
the director may issue an order suspending or barring such authorized delegate from becoming or continuing to be an authorized delegate of a licensee during the period for which such order is in effect.
(b) Upon issuance of an order under subsection (a), the licensee shall terminate the licensee's relationship with the authorized delegate according to the terms of the order.
(c) Any authorized delegate to whom an order is issued under this section may apply to the director to modify or rescind the order. The director shall not grant such application unless the director finds that it is in the public interest to do so and that it is reasonable to believe that the person will, if and when the person is permitted to resume being an authorized delegate of a licensee, comply with all applicable provisions of this chapter and of any regulation and order issued under this chapter.
(d) The right of an authorized delegate to whom an order is issued under this section to petition for judicial review of an order shall not be affected by the failure of the authorized delegate to apply to the director to modify or rescind the order.
As added by P.L.42-1993, SEC.85. Amended by P.L.136-2018, SEC.213.

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