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Chapter 1. Establishment of the Department of Financial Institutions
28-11-1-1. Department of Financial Institutions; Establishment; Expenses Paid by Fees; Not Subject to Oversight; Examination of Funds, Accounts, and Financial Affairs - Sec. 1. (a) The department of financial institutions is established....
28-11-1-2. Administration of Title 28 - Sec. 2. The department shall administer this title. As added...
28-11-1-3. Members of Department - Sec. 3. (a) The ultimate authority for and the powers,...
28-11-1-4. Oath of Office; Necessity - Sec. 4. An individual must take an oath of office...
28-11-1-5. Term of Office; Reappointment of a Member; Service to Continue Until Successor Appointed - Sec. 5. (a) A member appointed by the governor under...
28-11-1-6. Chairman - Sec. 6. (a) The governor shall designate one (1) of...
28-11-1-7. Salary; Expenses - Sec. 7. (a) Each member who is not a state...
28-11-1-8. Officers; Election; Term of Office - Sec. 8. (a) During the first meeting after June 30...
28-11-1-9. Meetings - Sec. 9. Each year the members shall hold the following:...
28-11-1-9.1. Repealed - As added by P.L.35-2010, SEC.194. Repealed by P.L.134-2012, SEC.32.
28-11-1-10. Quorum; Action by Majority - Sec. 10. (a) Four (4) members constitute a quorum. (b)...
28-11-1-11. Delegation of Power - Sec. 11. The members may delegate a power or duty...
28-11-1-12. Adoption of Rules - Sec. 12. The department may, by a majority vote of...
28-11-1-13. Policies and Procedures - Sec. 13. The members may by resolution establish policies and...
28-11-1-13.5. Payments by Credit Card, Debit Card, or Charge Card; Discharge of Liability; Department's Authority to Contract With Vendor; Vendor Transaction Charge or Discount Fee - Sec. 13.5. (a) The department may accept payment of any...
28-11-1-14. Assignments, Deeds, and Other Documents; Execution - Sec. 14. All assignments, deeds, instruments, notices, orders, rules, and...
28-11-1-15. Director's Powers; State of Emergency or Governor's Approval - Sec. 15. If the governor: (1) declares, under IC 10-14-3-12,...
Chapter 2. Organization of Department
28-11-2-1. Director; Appointment; Oath of Office; Term of Office; Salary; Duties; Expenses - Sec. 1. (a) The governor shall appoint a qualified individual...
28-11-2-2. Organization of Department; Divisions - Sec. 2. (a) The director, with the approval of the...
28-11-2-3. Employees; Salaries and Benefits; Contractors to Assist With Examinations; Contracts Not Subject to Approval - Sec. 3. (a) The director, on behalf of the department,...
28-11-2-4. Performance Bonds and Crime Policies - Sec. 4. (a) The department may require that the members,...
28-11-2-5. Repealed - As added by P.L.33-1991, SEC.56. Amended by P.L.10-2006, SEC.72 and...
28-11-2-6. Conflicts of Interest; Adoption of Policies - Sec. 6. (a) The department shall adopt policies defining conflicts...
28-11-2-6.1. Ethics Rules and Requirements; Adopting Additional Rules - Sec. 6.1. (a) The members, the director, and the employees...
28-11-2-6.2. Public Meetings; Transcribing and Preserving Damaged Records - Sec. 6.2. Except as otherwise provided by law, the department...
28-11-2-7. Liability for Official Acts - Sec. 7. The members, director, and employees of the department...
28-11-2-8. Powers of Inquiry; Administration of Oaths; Requiring Production of Books and Records; Refusal of Person to Comply With Order or Subpoena - Sec. 8. (a) A member, the director, or an employee...
28-11-2-9. Financial Institutions Fund - Sec. 9. (a) The financial institutions fund is established. (b)...
Chapter 3. Supervision of Financial Institutions
28-11-3-1. Examination of Financial Institutions; Independent Audit; Report of Condition; Data Processing Services; Use of Report by Federal Home Loan Bank; Unauthorized Actions Concerning Reports; Examination of Vendors - Sec. 1. (a) The department shall examine the affairs of...
28-11-3-2. Visitorial Powers - Sec. 2. The department has visitorial powers with respect to...
28-11-3-3. Disclosure of Confidential Information; Information Sharing Agreements - Sec. 3. (a) The director or the director's designee may...
28-11-3-4. Documents, Reports, and Other Papers; Certified Copies; Prima Facie Evidence - Sec. 4. A copy of a document, report, or other...
28-11-3-5. Schedule of Fees; Classification of Assets; Changes or Modifications of Fees; Excess Costs of Examinations - Sec. 5. (a) As used in this section, "assets" means...
28-11-3-6. Federal Preemption; Exemption of State Chartered Entities and Subsidiaries From Provisions of State Law - Sec. 6. (a) As used in this section: (1) "federally...
Chapter 4. Enforcement Powers of the Department
28-11-4-1. Application of Ic 4-21.5 - Sec. 1. (a) Except as provided in subsection (b), IC...
28-11-4-2. Unsafe or Unsound Practices or Violations of Law; Notice of Charges; Joint Exercise of Enforcement Powers With Federal Regulators - Sec. 2. If the director has reasonable cause to believe...
28-11-4-3. Violations by Certain Individuals; Director's Notice of Intent to Issue Order; Felonies; Civil Penalties - Sec. 3. (a) If the director determines that a current...
28-11-4-4. Director's Notice of Intent to Issue Order; Contents; Hearing; Final Order; Removal of Officer, Director, or Employee; Suspension or Prohibition Pending Final Order; Official Record - Sec. 4. (a) A notice issued under this chapter must:...
28-11-4-5. Consent to a Final Order - Sec. 5. If the director of the department enters into...
28-11-4-6. Temporary Order - Sec. 6. (a) If the director determines that an alleged...
28-11-4-7. Final Order; Remedies; Consent Presumed; Confidentiality - Sec. 7. (a) If, after a hearing held under section...
28-11-4-8. Final Order; Time in Effect - Sec. 8. (a) A final order issued under this chapter...
28-11-4-9. Civil Penalty - Sec. 9. (a) A civil penalty imposed on a director...
28-11-4-10. Enforcement of Orders, Agreements, and Conditions - Sec. 10. The director may enforce any of the following...
28-11-4-11. Persons Suspended or Prohibited From Participation - Sec. 11. An individual who: (1) is suspended or prohibited...
28-11-4-12. Enforcement Powers Exercised Against Affiliate of Financial Institution - Sec. 12. (a) The director of the department may exercise...
Chapter 5. Department Oversight of Organization of a Financial Institution
28-11-5-1. Application of Chapter - Sec. 1. This chapter applies to the following financial institutions:...
28-11-5-2. Approval of Articles of Incorporation and Organization and Establishment of Financial Institutions - Sec. 2. (a) A financial institution may not be organized,...
28-11-5-3. Applications to Establish Financial Institutions - Sec. 3. (a) A request to establish a financial institution...
28-11-5-4. Investigation of Applicant; Disapproval of Application; Submission of Fingerprints - Sec. 4. (a) Upon the acceptance of an application under...
28-11-5-4.5. Background Checks; Fingerprints - Sec. 4.5. (a) To obtain additional information for the purposes...
28-11-5-5. Hearings on Applications - Sec. 5. (a) The department may hold a hearing to...
28-11-5-6. Notice of Applications Subject to Hearings - Sec. 6. (a) If a public hearing is held under...
28-11-5-7. Hearing Procedures - Sec. 7. (a) This section applies only if the department...
28-11-5-8. Approval or Disapproval of Applications - Sec. 8. Within a reasonable time after the application is...
28-11-5-9. Payment of Expenses - Sec. 9. (a) The applicants shall pay all expenses incurred...
28-11-5-10. Financial Institutions Organized as Limited Liability Companies; Treatment as Financial Institution Organized in Stock Form; Exclusive Authority of Department to Regulate; Prior Approval of Department Required - Sec. 10. (a) Subject to subsection (g), a financial institution...