Indiana Code
Title 23. Business and Other Associations
Article 2.5. Loan Brokers

23-2.5-1-4. "Borrower's Residential Mortgage Loan Application Information" - Sec. 4. "Borrower's residential mortgage loan application information" means the:...

23-2.5-1-5. "Branch Manager" - Sec. 5. "Branch manager" means a mortgage loan originator or...

23-2.5-1-6. "Branch Office" - Sec. 6. "Branch office" means a loan broker office other...

23-2.5-1-7. "Branch Office License" - Sec. 7. "Branch office license" means a license issued by...

23-2.5-1-8. "Commissioner" - Sec. 8. "Commissioner" refers to the securities commissioner appointed under...

23-2.5-1-9. "Depository Institution" - Sec. 9. "Depository institution" has the meaning set forth in...

23-2.5-1-10. "Encrypted" - Sec. 10. "Encrypted", with respect to personal information, means that...

23-2.5-1-11. "Immediate Family" - Sec. 11. "Immediate family", with respect to an individual, refers...

23-2.5-1-12. "Licensee" - Sec. 12. "Licensee" means a person that is issued a...

23-2.5-1-13. "Loan" - Sec. 13. "Loan" means an agreement to advance money or...

23-2.5-1-14. "Loan Broker" - Sec. 14. (a) "Loan broker" means a person who, in...

23-2.5-1-15. "Loan Broker Employee" - Sec. 15. "Loan broker employee" means an individual: (1) who...

23-2.5-1-16. "Loan Broker License" - Sec. 16. "Loan broker license" means a license issued by...

23-2.5-1-17. "Loan Broker Office" - Sec. 17. "Loan broker office" means a fixed physical location:...

23-2.5-1-18. "Loan Processing Activities" - Sec. 18. (a) "Loan processing activities" means clerical or support...

23-2.5-1-19. "Loan Processing Company" - Sec. 19. "Loan processing company" means a person that: (1)...

23-2.5-1-20. "Loan Processor" - Sec. 20. "Loan processor" means an individual who performs loan...

23-2.5-1-21. "Mortgage Loan Origination Activities" - Sec. 21. "Mortgage loan origination activities" means performance of any...

23-2.5-1-22. "Mortgage Loan Originator" - Sec. 22. (a) "Mortgage loan originator" means an individual engaged...

23-2.5-1-23. "Mortgage Loan Originator License" - Sec. 23. "Mortgage loan originator license" means a license issued...

23-2.5-1-24. "Nationwide Multistate Licensing System" - Sec. 24. "Nationwide Multistate Licensing System" refers to a multistate...

23-2.5-1-25. "Person" - Sec. 25. "Person" means an individual, a partnership, a trust,...

23-2.5-1-26. "Personal Information" - Sec. 26. "Personal information" includes the following: (1) An individual's...

23-2.5-1-27. "Principal Manager" - Sec. 27. "Principal manager" means an individual who has at...

23-2.5-1-28. "Principal Manager License" - Sec. 28. "Principal manager license" means a license issued by...

23-2.5-1-29. "Principal Place of Business" - Sec. 29. "Principal place of business" means the loan broker...

23-2.5-1-30. "Real Estate Appraiser" - Sec. 30. "Real estate appraiser" means a person who: (1)...

23-2.5-1-31. "Real Estate Brokerage Activity" - Sec. 31. "Real estate brokerage activity" means offering or providing...

23-2.5-1-32. "Redacted" - Sec. 32. "Redacted", with respect to personal information, means that...

23-2.5-1-33. "Registered Mortgage Loan Originator" - Sec. 33. "Registered mortgage loan originator" means a mortgage loan...

23-2.5-1-34. "Residential Mortgage Loan" - Sec. 34. "Residential mortgage loan" means a loan: (1) that...

23-2.5-1-35. "Residential Real Estate" - Sec. 35. "Residential real estate" means real property: (1) that...

23-2.5-1-36. "Securities Division" - Sec. 36. "Securities division" refers to the division of the...

23-2.5-1-37. "State Licensed Mortgage Loan Originator" - Sec. 37. "State licensed mortgage loan originator" means an individual...

23-2.5-1-38. "Ultimate Equitable Owner" - Sec. 38. "Ultimate equitable owner" means a person that, directly...

23-2.5-1-39. "Unique Identifier" - Sec. 39. "Unique identifier" means a number or other identifier...

Chapter 2. Loan Broker Regulation Account

23-2.5-2-1. Loan Broker Regulation Account - Sec. 1. (a) The loan broker regulation account is created...

Chapter 3. Licensure and Loan Processing Company Notice Filing Requirements

23-2.5-3-1. Loan Broker License Required - Sec. 1. (a) A person may not engage in the...

23-2.5-3-2. Principal Manager License Required; Mortgage Loan Originator License Required - Sec. 2. (a) An individual may not act as a...

23-2.5-3-3. Loan Processing Activities - Sec. 3. An individual may not engage in loan processing...

23-2.5-3-4. Branch Office License Required - Sec. 4. (a) A loan broker may not operate a...

23-2.5-3-5. Loan Processing Company Notice Filing - Sec. 5. Before engaging in loan processing activities, a loan...

23-2.5-3-6. Registered Mortgage Loan Originator License Not Required - Sec. 6. A registered mortgage loan originator is not required...

Chapter 4. License Issuance and Renewal

23-2.5-4-1. Loan Broker License Application Requirements - Sec. 1. (a) An application for issuance or renewal of...

23-2.5-4-2. Principal Manager License Application Requirements - Sec. 2. (a) An application for issuance or renewal of...

23-2.5-4-3. Mortgage Loan Originator License Application Requirements - Sec. 3. (a) An application for issuance or renewal of...

23-2.5-4-4. Branch Office License Application Requirements - Sec. 4. (a) An application for issuance or renewal of...

23-2.5-4-5. Issuance and Renewal of License - Sec. 5. (a) The commissioner shall issue a license and...

23-2.5-4-6. License Renewal Required - Sec. 6. (a) A licensee under this chapter may not...

23-2.5-4-7. Principal Manager or Mortgage Loan Originator License; Effective Only With Employment; Transfer of License; Notice of Termination - Sec. 7. (a) The license of a principal manager or...

23-2.5-4-8. Notice of Change in Material Fact or Statement in License Application - Sec. 8. (a) If a material fact or statement included...

23-2.5-4-9. Agent for Service of Process - Sec. 9. An applicant for licensure, or renewal of a...

23-2.5-4-10. National Criminal History Background Check - Sec. 10. (a) At the time of application for an...

23-2.5-4-11. Financial Responsibility of Applicant - Sec. 11. In reviewing a consumer report obtained under section...

23-2.5-4-12. Electronic Surety Bond - Sec. 12. A loan broker shall maintain an electronic surety...

23-2.5-4-13. Evidence of Compliance - Sec. 13. (a) The commissioner may request evidence of compliance...

23-2.5-4-14. Unique Identifier; Use Restricted - Sec. 14. A unique identifier obtained by an individual from...

Chapter 5. Loan Processing Company Notice Filing and Renewal

23-2.5-5-1. Loan Processing Company Notice Filing - Sec. 1. Before engaging in loan processing activities, a loan...

23-2.5-5-2. Form and Content of Loan Processing Company Notice Filing - Sec. 2. A loan processing company notice filing must be...

23-2.5-5-3. Loan Processing Company Notice Filing; Annual Renewal - Sec. 3. (a) A loan processing company notice filing described...

23-2.5-5-4. Employment for Loan Processing Activities; Requirements - Sec. 4. A loan processing company may not employ an...

23-2.5-5-5. Burden of Proof of Compliance - Sec. 5. A loan processing company bears the burden of...

23-2.5-5-6. Loan Processing Company or Loan Processor Violations - Sec. 6. (a) If the commissioner determines that a loan...

23-2.5-5-7. Agent for Service of Process - Sec. 7. (a) A loan processing company shall, before engaging...

23-2.5-5-8. Ceasing Loan Processing Activities; Requirements - Sec. 8. If a loan processing company ceases to engage...

Chapter 6. Education and Examination

23-2.5-6-1. Academic Education Required for Licensure - Sec. 1. (a) An applicant for an initial license under...

23-2.5-6-2. Continuing Academic Education Required for Licensure - Sec. 2. (a) To maintain a license issued under IC...

23-2.5-6-3. License Lapse or Expiration; Educational Requirements for Licensure - Sec. 3. If a license issued under IC 23-2.5-4 lapses...

23-2.5-6-4. Commissioner Review and Approval of Internal Academic Education Programs - Sec. 4. (a) In determining the acceptability of academic education,...

23-2.5-6-5. Principal Manager; Mortgage Loan Originator; Written Examination Requirements - Sec. 5. (a) The commissioner shall require an applicant for...

23-2.5-6-6. Mortgage Loan Originator Activities License or Registration Lapse or Expiration; Written Examination for Licensure or Registration - Sec. 6. If an individual who has been issued a...

23-2.5-6-7. Written Examination; Time to Obtain License - Sec. 7. If an individual does not obtain a license...

Chapter 7. Loan Broker Offices and Personnel

23-2.5-7-1. Loan Broker Employment of Principal Manager or Mortgage Loan Originator; License Required - Sec. 1. A loan broker shall not employ an individual...

23-2.5-7-2. Loan Processing Activities; Notice Filing Required - Sec. 2. A loan broker shall not engage the services...

23-2.5-7-3. Loan Processor or Underwriter Activities; Representation to Public - Sec. 3. An individual who acts solely as a loan...

23-2.5-7-4. Responsibilities of Principal Manager - Sec. 4. A loan broker shall, in accordance with section...

23-2.5-7-5. Principal Manager; Supervising Activities Limitation - Sec. 5. (a) A principal manager designated by a loan...

23-2.5-7-6. Annual Loan Broker Office Compliance Examinations - Sec. 6. (a) A principal manager shall complete at least...

23-2.5-7-7. Branch Office Manager - Sec. 7. (a) A loan broker that operates a branch...

23-2.5-7-8. Loan Broker Employees; Steps to Prevent Violation - Sec. 8. A loan broker that fails to take reasonable...

23-2.5-7-9. Principal Manager; Steps to Prevent Violation - Sec. 9. A principal manager who fails to take reasonable...

23-2.5-7-10. Branch Manager; Steps to Prevent Violation - Sec. 10. A branch manager who fails to take reasonable...

23-2.5-7-11. Loan Broker Review of Loan Processing Company Work - Sec. 11. (a) A loan broker shall diligently review work...

Chapter 8. Conduct of Business

23-2.5-8-1. Loan Broker Contract - Sec. 1. (a) A contract for the services of a...

23-2.5-8-2. Real Estate Appraiser; Influence; Ownership or Interest - Sec. 2. (a) A licensee or a person required to...

23-2.5-8-3. Contract Rescission; Consideration - Sec. 3. (a) If a transaction for which a loan...

23-2.5-8-4. Loan Broker Agreement Account Number - Sec. 4. A loan broker agreement must be assigned an...

23-2.5-8-5. Loan Broker Records - Sec. 5. A loan broker shall maintain the following records,...

23-2.5-8-6. Loan Broker Record Maintenance - Sec. 6. (a) The records maintained under section 5 of...

23-2.5-8-7. Loan Broker Ceasing to Do Business; Records; Notice to Commissioner - Sec. 7. (a) A loan broker that ceases to conduct...

23-2.5-8-8. Security Breach of Loan Broker Record - Sec. 8. If a breach of the security of a...

23-2.5-8-9. Licensee Disposal of Records - Sec. 9. A licensee may not dispose of the unencrypted,...

23-2.5-8-10. Prospective Borrower Funds; Requirements - Sec. 10. If a licensee or a person required to...

23-2.5-8-11. Loan Broker Reports of Condition - Sec. 11. (a) A loan broker shall, when required by...

Chapter 9. Residential Mortgage Loan Transaction Documents

23-2.5-9-1. Loan Broker Agreement; Licensee Information - Sec. 1. A loan broker agreement that is delivered or...

23-2.5-9-2. Loan Processing Company Records - Sec. 2. (a) A loan processing company shall maintain records...

23-2.5-9-3. Loan Processing Company Breach; Disclosure - Sec. 3. If a breach occurs of the security of...

23-2.5-9-4. Loan Processing Company Records Disposal - Sec. 4. A loan processing company may not dispose of...

23-2.5-9-5. Loan Processing Company Records; Commissioner Examination - Sec. 5. The commissioner may examine the books and records...

23-2.5-9-6. Loan Processor; Federal Law Compliance - Sec. 6. A loan processor shall comply with all of...

23-2.5-9-7. Loan Processor; Loan Processor Company; Violations - Sec. 7. The following are subject to disciplinary proceedings under...

Chapter 10. Prohibited Acts

23-2.5-10-1. Violations in Connection With Loan Broker Agreement - Sec. 1. (a) A person shall not, in connection with...

Chapter 11. Violations and Civil Enforcement

23-2.5-11-1. Permissive Actions; Denial of Licensure Application or Renewal; Suspension; Revocation - Sec. 1. The commissioner may deny an application for an...

23-2.5-11-2. Required Actions; Denial of Licensure Application or Renewal; Suspension; Revocation - Sec. 2. The commissioner shall deny an application for an...

23-2.5-11-3. Investigation; Orders; Penalties - Sec. 3. (a) If the commissioner determines that a person...

23-2.5-11-4. Censure; Permanent Bar - Sec. 4. The commissioner may do either of the following:...

23-2.5-11-5. Notice Before Final Order - Sec. 5. (a) Except as provided in subsection (b), the...

23-2.5-11-6. Implementation; Rules; Commissioner Actions - Sec. 6. (a) The commissioner may do the following: (1)...

23-2.5-11-7. Immunity of Witness - Sec. 7. (a) If a witness, in a hearing, an...

23-2.5-11-8. Certificate of Compliance or Noncompliance - Sec. 8. (a) In a prosecution, action, suit, or proceeding...

23-2.5-11-9. Court to Compel Obedience to Subpoena, Order, or Demand - Sec. 9. (a) This section applies when a person or...

23-2.5-11-10. Action to Enforce Penalty - Sec. 10. The commissioner may bring an action in the...

23-2.5-11-11. Action to Enjoin; Other Relief - Sec. 11. (a) If the commissioner believes that a person...

23-2.5-11-12. Appeal; Procedure - Sec. 12. (a) An appeal may be taken, to the...

23-2.5-11-13. Admissibility of Copied Statements, Documents, and Records - Sec. 13. Copies of a statement or document filed with...

23-2.5-11-14. Court Compelled Obedience to Subpoena, Order, or Demand - Sec. 14. Upon: (1) disobedience on the part of any...

23-2.5-11-15. Contempt of Court; Liability for Damages; Contract Void - Sec. 15. (a) If a person fails, refuses, or neglects...

23-2.5-11-16. Securities Division and Department of Financial Institutions; Cooperation - Sec. 16. In the securities division's investigative, examination, and regulatory...

23-2.5-11-17. Violations; Felonies - Sec. 17. (a) Except as provided in subsection (b), a...

Chapter 12. Effect of Repeal of Ic 23-2-5

23-2.5-12-1. Effect of Repeal of Former Law - Sec. 1. The repeal of IC 23-2-5 does not affect...

23-2.5-12-2. Governance of Repealed Law - Sec. 2. IC 23-2-5, as in effect before its repeal,...

23-2.5-12-3. Effect of Repeal on License in Effect - Sec. 3. Unless a license issued under IC 23-2-5, before...

23-2.5-12-4. Effect of Repeal on Certain Items in Effect - Sec. 4. (a) This section applies to the extent that:...

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Indiana Code Title 23. Business and Other Associations Article 2.5. Loan Brokers

Indiana Code
Title 23. Business and Other Associations
Article 2.5. Loan Brokers