reglab/housing_qa huggingface dataset:
IN Code § 28-8-4-20 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-20. License Required; Application; Felonies; Evidence of Compliance; Criminal Background Checks; Tax Warrant List

Sec. 20. (a) A person may not engage in the business of money transmission:(1) from a place of business in Indiana; or(2) with a consumer who is a resident of Indiana and who enters into the transaction in Indiana;without a license required by this chapter.(b) An application for a license must be:(1) submitted on a form prescribed by the director and must include the information required by the director; and(2) accompanied by a nonrefundable application fee as fixed by the department under IC 28-11-3-5.(c) An application submitted under this section must indicate whether any individuals described in section 35(b)(2) or 35(b)(3) of this chapter have been convicted of a felony under the laws of Indiana or any other jurisdiction.(d) The director may request evidence of compliance with this section at:(1) the time of application;(2) the time of renewal of a license; or(3) any other time considered necessary by the director.(e) For purposes of subsection (d), evidence of compliance may include:(1) criminal background checks, including a national criminal history background check (as defined in IC 10-13-3-12) by the Federal Bureau of Investigation for an individual described in section 35(b)(2) or 35(b)(3) of this chapter;(2) credit histories; and(3) other background checks considered necessary by the director.If the director requests a national criminal history background check under subdivision (1) for an individual described in that subdivision, the director shall require the individual to submit fingerprints to the department or to the state police department, as appropriate, at the time evidence of compliance is requested under subsection (d). The individual to whom the request is made shall pay any fees or costs associated with the fingerprints and the national criminal history background check. The national criminal history background check may be used by the director to determine the individual's compliance with this section. The director or the department may not release the results of the national criminal history background check to any private entity.(f) 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).As added by P.L.42-1993, SEC.85. Amended by P.L.63-2001, SEC.20 and P.L.134-2001, SEC.22; P.L.10-2006, SEC.55 and P.L.57-2006, SEC.55; P.L.90-2008, SEC.56; P.L.35-2010, SEC.180; P.L.172-2011, SEC.134; P.L.216-2013, SEC.46.
IN Code § 28-8-4-21 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-21. Form of License Applications; Surety Bond; Fee

Sec. 21. (a) An application for a license under this chapter must be:(1) in writing;(2) under oath; and(3) in a form prescribed by the director.(b) An application for a license must be accompanied by the following:(1) A surety bond as required by section 27 of this chapter. If requested, the director may permit corporations that are directly or indirectly commonly controlled to engage in activities under this chapter pursuant to a single surety bond filed under section 27 of this chapter.(2) A nonrefundable license fee as fixed by the department under IC 28-11-3-5.As added by P.L.42-1993, SEC.85. Amended by P.L.216-2013, SEC.48.
IN Code § 28-8-4-24 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-24. Contents of License Applications

Sec. 24. An application for licensure under this chapter must contain the following:(1) The name of the applicant.(2) The applicant's principal address.(3) A fictitious or trade name, if any, used by the applicant in the conduct of its business.(4) The location of the applicant's business records.(5) The history of the applicant's:(A) material litigation; and(B) criminal convictions for felonies involving fraud, deceit, or misrepresentation under the laws of Indiana or any other jurisdiction.(6) A description of:(A) the activities conducted by the applicant;(B) the applicant's history of operations; and(C) the business activities in which the applicant seeks to be engaged in Indiana.(7) A list identifying the applicant's proposed authorized delegates in Indiana.(8) A sample authorized delegate contract, if applicable.(9) A sample form of payment instrument, if applicable.(10) The location or locations at which the applicant and its authorized delegates propose to conduct the licensed activities in Indiana.(11) The name and address of the clearing bank or banks on which the applicant's payment instruments will be drawn or through which such payment instruments will be payable.(12) Documents revealing that the applicant has a net worth of at least six hundred thousand dollars ($600,000), calculated in accordance with United States generally accepted accounting principles or in any other form that may be accepted at the discretion of the director.As added by P.L.42-1993, SEC.85. Amended by P.L.10-2006, SEC.56 and P.L.57-2006, SEC.56; P.L.213-2007, SEC.76; P.L.217-2007, SEC.74; P.L.216-2013, SEC.49; P.L.159-2017, SEC.45; P.L.69-2018, SEC.61.
IN Code § 28-8-4-27 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-27. Surety Bond; Requirements; Amount; Termination; Liability; Notices

Sec. 27. (a) An application for licensure under this chapter must be accompanied by a surety bond in accordance with this section.(b) The surety bond required under subsection (a) must:(1) be in the amount of three hundred thousand dollars ($300,000);(2) be in a form acceptable to the director;(3) be in effect during the term of the license issued under this chapter;(4) subject to subsection (c), remain in effect during the five (5) years after the license of the licensee is surrendered or terminated;(5) be payable to the department for the benefit of:(A) the state;(B) individuals who reside in Indiana when they agree to receive money transmission services from the licensee; and(C) entities that do business in Indiana when they agree to receive money transmission services from the licensee;(6) be issued by a bonding, surety, or insurance company authorized to do business in Indiana and rated at least "A-" by at least one (1) nationally recognized investment rating service; and(7) have payment conditioned upon the licensee's or any of the licensee's employees' or agents' noncompliance with or violation of this chapter or other applicable federal or state laws or regulations.(c) The director may adopt rules or guidance documents with respect to the requirements for a surety bond as necessary to accomplish the purposes of this chapter. Upon written request from a licensee, the director may, at the discretion of the director, waive or shorten the five (5) year period set forth in subsection (b)(4) during which a surety bond required by this section must remain in effect after the licensee's license is surrendered or terminated.(d) If the principal amount of a surety bond required under this section is reduced by payment of a claim or judgment, the licensee for whom the bond is issued shall immediately notify the director of the reduction and, not later than thirty (30) days after notice by the director, file a new or an additional surety bond in the amount needed to restore the amount of the surety bond to three hundred thousand dollars ($300,000).(e) If for any reason a surety terminates a bond issued under this section, the licensee shall immediately notify the department and file a new surety bond in the amount of three hundred thousand dollars ($300,000).(f) Cancellation of a surety bond issued under this section does not affect any liability incurred or accrued during the period when the surety bond was in effect.(g) The director may obtain satisfaction from a surety bond issued under this section if the director incurs expenses, issues a final order, or recovers a final judgment under this chapter.(h) Notices required under this section must be made in writing and submitted through the NMLSR or any other electronic registration system that may be approved by the director.As added by P.L.42-1993, SEC.85. Amended by P.L.73-2004, SEC.38; P.L.216-2013, SEC.51; P.L.176-2019, SEC.62; P.L.129-2020, SEC.21.
IN Code § 28-8-4-33 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-33. Conduct of Business; Insurance; Permissible Investments; Good Standing

Sec. 33. (a) A license granted under this chapter permits a licensee to conduct business:(1) at one (1) or more locations directly or indirectly owned by the licensee; or(2) through one (1) or more authorized delegates.(b) Each licensee shall maintain a policy of insurance issued by an insurer authorized to do business in Indiana that insures the applicant against loss by a criminal act or act of dishonesty. The principal sum of the policy shall be equivalent to the amount of the surety bond required under section 27 of this chapter.(c) A licensee must at all times possess permissible investments with an aggregate market value calculated in accordance with United States generally accepted accounting principles, or in any other form that may be preapproved at the discretion of the director, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee or an authorized delegate of the licensee in the United States.(d) A licensee that is a corporation or a limited liability company must at all times be in good standing with the secretary of state of the state in which the licensee was incorporated.As added by P.L.42-1993, SEC.85. Amended by P.L.73-2004, SEC.39; P.L.216-2013, SEC.57; P.L.69-2018, SEC.63.
IN Code § 28-8-4-34 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-34. Commonly Controlled Corporations or Organizations

Sec. 34. The director may permit corporations or other organizations that are directly or indirectly commonly controlled to engage in activities under this chapter, pursuant to a surety bond required under section 27 of this chapter.As added by P.L.42-1993, SEC.85. Amended by P.L.216-2013, SEC.58.
IN Code § 28-8-4-35 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-35. Investigations by Director; Issuance of Licenses; Controlling Persons; Denial of Applications

Sec. 35. (a) The director shall begin an investigation after an application for licensure under this chapter is complete.(b) The director shall investigate the financial condition and responsibility, financial and business experience, and character and general fitness of:(1) the applicant and any significant affiliate of the applicant;(2) each executive officer, director, or manager of the applicant, or any other individual having a similar status or performing a similar function for the applicant; and(3) if known, each controlling person.(c) The director may conduct an onsite investigation of the applicant, the reasonable cost of which shall be borne by the applicant.(d) The director shall issue a license to an applicant authorizing the applicant to engage in the licensed activities in Indiana for a term expiring December 31 of the year in which the license is issued if the director finds that:(1) the applicant's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community; and(2) the applicant has fulfilled the requirements imposed by this chapter.(e) Upon application, the director shall determine whether a particular person qualifies as a controlling person. The director may waive any or all requirements of this chapter pertaining to a controlling person for good cause shown.(f) If the director finds that:(1) an applicant does not satisfy the requirements in subsection (d); or(2) an application was submitted for the benefit of, or on behalf of, a person who does not qualify for a license;the director may deny the application. The director must set forth the reasons for the denial in writing and send a copy of the reasons to the applicant.As added by P.L.42-1993, SEC.85. Amended by P.L.10-2006, SEC.57 and P.L.57-2006, SEC.57; P.L.90-2008, SEC.58; P.L.216-2013, SEC.59.
IN Code § 28-8-4-36 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-36. Contesting Denial of License Applications

Sec. 36. (a) An applicant that is denied a license under section 35(f) of this chapter may, not more than thirty (30) days after receipt of written notice of the denial, contest the denial by serving a response on the director.(b) The serving of a response on the director automatically stays the denial of the license until a final ruling in the hearing is announced.(c) The director shall set a date for a hearing not less than sixty (60) days after service of the response. A later date may be set with the denied applicant's consent.As added by P.L.42-1993, SEC.85.
IN Code § 28-8-4-37 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-37. License Renewal Fees

Sec. 37. The department shall fix an annual fee for renewal of a license under IC 28-11-3-5. The annual fee shall be paid on or before December 31 of each year.As added by P.L.42-1993, SEC.85. Amended by P.L.213-2007, SEC.80; P.L.217-2007, SEC.78; P.L.216-2013, SEC.60.
IN Code § 28-8-4-38 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-38. License Renewal; Annual Requirements; Financial Statements; Fee

Sec. 38. A licensee may renew a license by complying with the following:(1) Filing with the director or the director's designee the annual renewal in the form that is prescribed by the director and sent by the director to each licensee not later than December 31 of each year. The renewal must include the following, which, except for the financial statements described in clause (A), must be filed not later than December 31:(A) Either:(i) a copy of the licensee's most recent audited consolidated annual financial statements, including a balance sheet, a statement of income or loss, a statement of changes in shareholder equity, and a statement of changes in financial position; or(ii) if the licensee is a wholly owned subsidiary, the parent corporation's or parent organization's most recently prepared consolidated audited annual financial statements, or the parent corporation's or parent organization's most recent Form 10K report filed with the Securities and Exchange Commission, along with the licensee's unaudited annual financial statements.The audited financial statements required to be submitted under this clause must be prepared, by an independent certified public accountant authorized to do business in the United States, in accordance with AICPA Statements on Standards for Accounting and Review Services (SSARS) and in accordance with United States generally accepted accounting principles, and must be filed with the director or the director's designee not later than one hundred twenty (120) days after the close of the calendar or fiscal year covered by the statements.(B) The number of payment instruments sold by the licensee in Indiana, the dollar amount of those instruments, and the dollar amount of outstanding payment instruments sold by the licensee calculated from the most recent quarter for which data is available before the date of the filing of the renewal application, but in no event more than one hundred twenty (120) days before the renewal date.(C) Material changes to the information submitted by the licensee on its original application or as part of a renewal that have not been reported previously to the director on any other report or renewal required to be filed under this chapter.(D) A list of the licensee's permissible investments.(E) A list of the locations within Indiana at which business regulated by this chapter will be conducted by either the licensee or its authorized delegate.(2) Paying the annual renewal fee described under section 37 of this chapter.As added by P.L.42-1993, SEC.85. Amended by P.L.10-2006, SEC.58 and P.L.57-2006, SEC.58; P.L.1-2007, SEC.188; P.L.213-2007, SEC.81; P.L.217-2007, SEC.79; P.L.216-2013, SEC.61; P.L.137-2014, SEC.32; P.L.186-2015, SEC.44; P.L.159-2017, SEC.46; P.L.69-2018, SEC.64.
IN Code § 28-8-4-39 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-39. Written Reports Following Bankruptcies or Reorganizations, License Revocations or Suspensions, and Felony Indictments and Convictions

Sec. 39. A licensee shall file a written report with the director not later than fifteen (15) days after the occurrence of one (1) or more of the following events:(1) The filing for bankruptcy or reorganization by the licensee.(2) The institution of revocation or suspension proceedings against the licensee by a state or governmental authority with regard to the licensee's money transmission activities.(3) A felony indictment of the licensee or of a key officer or director of the licensee related to money transmission activities.(4) A felony conviction of the licensee or a key officer or director of the licensee related to money transmission activities.The written report must give details concerning the event.As added by P.L.42-1993, SEC.85.
IN Code § 28-8-4-40.1 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-40.1. License Not Transferable or Assignable

Sec. 40.1. Except in a transaction approved under section 40.2 of this chapter, a license is not transferable or assignable.As added by P.L.89-2011, SEC.58.
IN Code § 28-8-4-40.4 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-40.4. Carrying on Other Business

Sec. 40.4. A licensee may carry on other business at a location where the licensee conducts the business of money transmission unless the licensee carries on other business for the purpose of evasion or violation of this chapter.As added by P.L.159-2017, SEC.47.
IN Code § 28-8-4-40.6 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-40.6. Felony Convictions; Notice to Department

Sec. 40.6. (a) This section applies if, after a person has been issued a license or renewal license under this chapter, the licensee, or any individual described in section 35(b)(2) or 35(b)(3) of this chapter, has been convicted of a felony under the laws of Indiana or any other jurisdiction.(b) If this section applies, the licensee shall provide to the department the information required under section 24(5)(B) or 25(6)(B) of this chapter, whichever applies:(1) not later than thirty (30) days after the licensee or individual described in section 35(b)(2) or 35(b)(3) of this chapter has been convicted of the felony; or(2) if the licensee's next license renewal fee under section 37 of this chapter is due before the date described in subdivision (1), along with the licensee's next license renewal fee under section 37 of this chapter.As added by P.L.213-2007, SEC.83; P.L.217-2007, SEC.81. Amended by P.L.90-2008, SEC.59; P.L.35-2010, SEC.182; P.L.216-2013, SEC.62.
IN Code § 28-8-4-42 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-42. Suspected Violations; Request for Additional Financial Data; Onsite Examinations Without Notice; Fees

Sec. 42. (a) If the director has a reasonable basis to believe that a licensee or an authorized delegate of a licensee is in violation of this chapter, the director may:(1) request financial data from the licensee in addition to that required under section 38(a)(1) of this chapter; or(2) conduct an in-state, onsite examination of an authorized delegate's operation or a licensee's location without prior notice to the authorized delegate or licensee.(b) All reasonable costs of an examination incurred under subsection (a)(2) shall be paid by the:(1) authorized delegate whose operation is examined; or(2) the licensee whose location is examined;in accordance with the fee schedule adopted under IC 28-11-3-5. A fee established by the department under IC 28-11-3-5 may be charged for each day a fee under this section is delinquent.As added by P.L.42-1993, SEC.85. Amended by P.L.27-2012, SEC.100.
IN Code § 28-8-4-43 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-43. Making, Keeping, and Preserving Records

Sec. 43. A licensee shall make, keep, and preserve the following for three (3) years:(1) A record or records of payment instruments sold.(2) A general ledger containing all asset, liability, capital income, and expense accounts for which a general ledger shall be posted at least monthly.(3) Settlement sheets, if received from authorized delegates.(4) Bank statements and bank reconciliation records.(5) Records of outstanding payment instruments.(6) Records of each payment instrument paid within the three (3) years.(7) A list of the names and addresses of all of the licensee's authorized delegates, as well as a copy of each authorized delegate's contract.As added by P.L.42-1993, SEC.85.
IN Code § 28-8-4-44 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-44. Maintenance and Availability of Records

Sec. 44. (a) The records maintained under section 43 of this chapter shall be:(1) maintained in conformity with United States generally accepted accounting principles and practices, or in any other form that may be preapproved at the discretion of the director, in a manner that will enable the director to determine whether the licensee is complying with the provisions of this chapter; and(2) made reasonably available to the director.(b) The director shall determine the sufficiency of the records and whether the licensee has made the required information reasonably available.As added by P.L.42-1993, SEC.85. Amended by P.L.69-2018, SEC.65.
IN Code § 28-8-4-45 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-45. Maintenance of Records at Foreign Locations

Sec. 45. Records maintained under section 43 of this chapter may be maintained at a location that is outside Indiana if the records are made accessible to the director after the director has given fifteen (15) days written notice.As added by P.L.42-1993, SEC.85.
IN Code § 28-8-4-45.5 (2021)
2021 Indiana Code|Title 28. Financial Institutions|Article 8. Financial Services|Chapter 4. Money Transmitters|28-8-4-45.5. Duty to Safeguard Personal Records

Sec. 45.5. The following persons are subject to IC 28-1-2-30.5 with respect to any records maintained by the person:(1) A person licensed or required to be licensed under this chapter.(2) An authorized delegate of a person described in subdivision (1).As added by P.L.90-2008, SEC.60.