reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-4. Implementation of Chapter

Sec. 4. The commissioner shall, in consultation with the secretary, do the following to implement this chapter:
(1) Develop a policy concerning conflicts of interest affecting navigators and application organizations, including conflicts of interest involving financial and nonfinancial considerations.
(2) Develop a consumer complaint procedure and applicable forms for filing a complaint.
(3) Define a reasonable period for the duration of navigator certification, after which the navigator must pay a renewal fee, complete continuing education, and reapply for certification.
(4) Define a reasonable period for the duration of application organization registration, after which the application organization must pay a renewal fee and reapply for registration.
(5) Develop a policy, procedure, and form for use by an application organization to attest to the commissioner that a navigator who provides the navigator's services on behalf of the application organization meets the requirements of section 3 of this chapter.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-5. Navigator Application for Certification

Sec. 5. (a) Before acting as a navigator in Indiana, an individual must:
(1) apply for certification as a navigator on a form prescribed by the commissioner; and
(2) declare, under penalty of denial, suspension, or revocation of the certification, that the statements made in the application are true, correct, and complete to the best of the individual's knowledge and belief.
(b) Before approving an application submitted under subsection (a), the commissioner shall determine whether the individual meets the following requirements:
(1) The individual is at least eighteen (18) years of age.
(2) The individual has not committed any act described in section 3 of this chapter that would be grounds for denial, suspension, or revocation of certification.
(3) The individual has completed a precertification course of study prescribed by the commissioner.
(4) The individual has paid the nonrefundable fee established under section 7 of this chapter.
(5) The individual has successfully passed the examination required by section 11 of this chapter.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-6. Application Organization Application for Registration

Sec. 6. (a) Before acting as an application organization in Indiana, an entity must be registered as an application organization as follows:
(1) The entity must apply for registration as an application organization on a form prescribed by the commissioner.
(2) The entity's application for registration:
(A) must be signed by an individual who is an owner, partner, officer, director, member, or manager of the entity, under penalty of denial, suspension, or revocation of registration; and
(B) must declare that the statements made in the application are true, correct, and complete to the best of the signing individual's knowledge and belief.
(b) Before approving an application submitted under subsection (a), the commissioner shall:
(1) verify that the entity is in good standing with the Indiana secretary of state; and
(2) determine whether the entity meets the following requirements:
(A) The entity has paid the nonrefundable fee established under section 7 of this chapter.
(B) The entity has designated a certified navigator to be responsible for the entity's compliance with this chapter.
(C) The entity has not committed any act described in section 3 of this chapter that would be grounds for denial, suspension, or revocation of registration.
(D) No owner, partner, officer, director, member, or manager of the entity has committed an act described in clause (C) or in section 3 of this chapter that would be grounds for denial, suspension, or revocation of certification as a navigator under this chapter.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-7. Verification of Information; Fees

Sec. 7. (a) The commissioner may require the production of any document that is reasonably necessary to verify the information contained in an application submitted under section 5 or 6 of this chapter.
(b) The commissioner shall collect from each applicant for certification or registration under this chapter a nonrefundable application fee established by the commissioner in an amount expected to generate revenue sufficient to cover the costs incurred by the commissioner in implementing this chapter.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-8. Navigator Appointment by Application Organization

Sec. 8. (a) A navigator who works for an application organization must be appointed by the application organization in writing.
(b) If an application organization, because of a violation described in section 3 of this chapter, revokes the appointment of a navigator described in subsection (a) who works for the application organization, the application organization shall, not more than thirty (30) days after the revocation occurs:
(1) submit a written report to the commissioner concerning the revocation; and
(2) provide a copy of the report to the navigator at the navigator's last known address by:
(A) certified mail, return receipt requested, postage prepaid; or
(B) overnight delivery using a nationally recognized carrier.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-9. Navigator Certification Renewal; Waiver

Sec. 9. A certified navigator who is unable to comply with the certification renewal procedures under this chapter due to military service or another extenuating circumstance may request from the commissioner:
(1) a temporary waiver of:
(A) the renewal procedure; or
(B) an examination requirement; or
(2) a waiver of a penalty or sanction that might otherwise be imposed for failure to comply with the renewal procedures.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-10. Content of Certification or Registration; Change of Information

Sec. 10. (a) A certification or registration under this chapter must contain the navigator's or application organization's name and address, the date of issuance, the expiration date, and any other information the commissioner considers necessary.
(b) A navigator or an application organization shall inform the commissioner of a change of address or legal name:
(1) not more than thirty (30) days after the change occurs; and
(2) by any means acceptable to the commissioner.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-11. Navigator Course of Study and Examination

Sec. 11. (a) An individual who applies for certification as a navigator in Indiana must complete a course of study and pass a written examination as prescribed by the commissioner in consultation with the secretary.
(b) The course of study required under subsection (a) must provide instruction in:
(1) the functions of a health benefit exchange;
(2) the duties and responsibilities of a navigator;
(3) the insurance laws of Indiana that apply to the functions of a navigator with respect to a health benefit exchange, including rules related to public health insurance programs; and
(4) the obligations of a navigator related to confidentiality of information and conflicts of interest.
(c) The examination required by subsection (a) must test the knowledge of the individual concerning the applicable:
(1) functions of a health benefit exchange;
(2) duties and responsibilities of a navigator;
(3) insurance laws of Indiana that apply to the functions of a navigator with respect to a health benefit exchange, including rules related to public health insurance programs; and
(4) the obligations of a navigator related to confidentiality of information and conflicts of interest.
(d) The commissioner:
(1) in consultation with the secretary, shall develop:
(A) a curriculum for a course of study for navigators; and
(B) policies and procedures to allow a registered application organization to develop a training program and a course curriculum that meets the requirements of subsection (b) for use in training navigators who perform the navigators' services on behalf of the registered application organization; and
(2) may contract with one (1) or more third party organizations to do any of the following with respect to the course of study described in subdivision (1)(A):
(A) Develop examinations and course materials.
(B) Administer examinations and courses of study.
(C) Collect nonrefundable course and examination fees.
(e) All training programs, course curriculums, examinations, course materials, and examination fees referred to in subsection (d) must be approved in advance by the commissioner in consultation with the secretary.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-12. Navigator Continuing Education

Sec. 12. (a) The commissioner:
(1) in consultation with the secretary, shall develop continuing education requirements for navigators; and
(2) may contract with one (1) or more third party organizations to:
(A) develop continuing education materials to meet the requirements developed under subdivision (1);
(B) administer continuing education programs; and
(C) collect nonrefundable continuing education program fees.
(b) All continuing education materials, programs, and fees referred to in subsection (a)(2) must be approved in advance by the commissioner in consultation with the secretary.
(c) The commissioner may require a navigator to complete specific continuing education requirements, as prescribed by the commissioner in consultation with the secretary, as a prerequisite to the authority to perform specific functions with respect to a health benefit exchange.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-13. Reapplication for Examination

Sec. 13. An individual who fails to:
(1) appear for a scheduled examination required under section 11(a) of this chapter; or
(2) pass the examination;
may not be rescheduled for the examination unless the individual reapplies for the examination and remits all required fees and forms.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 27. Insurance › Article 19. Health Benefit Exchange › Chapter 4. Health Benefit Exchange Navigators and Application Organizations › 27-19-4-14. Insurance Producer Acting as Navigator

Sec. 14. (a) An insurance producer or insurance consultant:
(1) may not act as a navigator unless the insurance producer or insurance consultant has completed the continuing education requirements that apply to a navigator; and
(2) shall receive a designation from the commissioner as a navigator upon completion of the continuing education requirements;
under this chapter.
(b) The commissioner may require an insurance producer or insurance consultant to complete specific continuing education requirements, as prescribed by the commissioner in consultation with the secretary, as a prerequisite to the authority to perform specific functions with respect to a health benefit exchange.
(c) An insurance producer or insurance consultant is not required to complete continuing education hours of credit in excess of the required number of hours of credit in continuing education that apply to the insurance producer or insurance consultant under IC 27-1-15.7.
As added by P.L.278-2013, SEC.27.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-1. Short Title

Sec. 1. This article shall be known and may be cited as The Indiana Financial Institutions Act.
Formerly: Acts 1933, c.40, s.1. As amended by P.L.263-1985, SEC.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-2. Application of Article

Sec. 2. This article applies to every financial institution and to other corporations and individuals as may by law after July 1, 1933, be subjected to the provisions of this article.
Formerly: Acts 1933, c.40, s.2. As amended by P.L.263-1985, SEC.2; P.L.42-1993, SEC.19.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-3.5. Affiliate Relationship

Sec. 3.5. Except as otherwise provided, for purposes of this title, a company is an affiliate of any financial institution or other person subject to this title if the company bears the same relationship to the financial institution or person subject to this title as a company described in IC 28-1-18.2-1 bears to a bank.
As added by P.L.10-2006, SEC.27 and P.L.57-2006, SEC.27.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-4. "Fund"

Sec. 4. As used in IC 28-11, "fund" refers to the financial institutions fund established by IC 28-11-2-9.
As added by P.L.33-1991, SEC.2.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-5. References to Savings Associations

Sec. 5. A reference in the Indiana Code to any of the following shall be interpreted as a reference to a savings association (as defined in IC 28-15-1-11):
(1) Building and loan association.
(2) Savings and loan association.
(3) Rural loan and savings association.
(4) Guaranty loan and savings association.
(5) Mutual association.
(6) Stock association.
As added by P.L.193-1997, SEC.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 1. Definitions and Application of Article › 28-1-1-6. "Depository Financial Institution"

Sec. 6. For purposes of IC 28-1-23-16, "depository financial institution" means a financial institution that is:
(1) a commercial bank, organized or reorganized under the law of another state (as defined in IC 28-2-17-19) or United States law;
(2) a trust company, organized or reorganized under the law of another state (as defined in IC 28-2-17-19) or United States law;
(3) a credit union, organized or reorganized under the law of another state (as defined in IC 28-2-17-19) or United States law;
(4) a savings bank, organized or reorganized under the law of another state (as defined in IC 28-2-17-19) or United States law;
(5) a savings association, organized or reorganized under Indiana law, the law of another state (as defined in IC 28-2-17-19), or United States law;
(6) a bank of discount and deposit, organized or reorganized under the law of another state (as defined in IC 28-2-17-19) or United States law;
(7) an industrial loan and investment company, organized or reorganized under Indiana law, the law of another state (as defined in IC 28-2-17-19), or United States law; or
(8) a financial institution similar to those listed in subdivisions (1) through (7), organized or reorganized under Indiana law, the law of another state (as defined in IC 28-2-17-19), or United States law.
As added by P.L.81-2001, SEC.1.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-1. Repealed

Formerly: Acts 1933, c.40, s.4; Acts 1945, c.348, s.2. As amended by P.L.263-1985, SEC.3. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-2. Repealed

Formerly: Acts 1933, c.40, s.5; Acts 1941, c.35, s.1; Acts 1945, c.348, s.3; Acts 1971, P.L.394, SEC.2; Acts 1974, P.L.127, SEC.1. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-3. Repealed

Formerly: Acts 1933, c.40, s.6; Acts 1941, c.35, s.2; Acts 1945, c.348, s.4; Acts 1971, P.L.394, SEC.3. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-5. Repealed

Formerly: Acts 1933, c.40, s.8; Acts 1945, c.348, s.5; Acts 1971, P.L.394, SEC.5. As amended by P.L.263-1985, SEC.4. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-6. Prudent Conduct of Business

Sec. 6. Every financial institution to which this article is applicable shall conduct and transact its business in a safe and prudent manner; shall maintain such institution in a safe and solvent condition; and shall establish and maintain safe and sound methods for the conduct of such financial institution and its business and prudential affairs.
Formerly: Acts 1933, c.40, s.9; Acts 1971, P.L.394, SEC.6.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-6.5. Compliance With Money Laundering Laws; Investigation and Enforcement by the Department

Sec. 6.5. (a) A financial institution (as defined in IC 28-1-1-3(1)), except for a licensee under IC 24-4.4, IC 24-4.5, or 750 IAC 9, shall comply with the following:
(1) The Bank Secrecy Act (31 U.S.C. 5311 et seq.).
(2) The USA Patriot Act of 2001 (P.L. 107-56).
(3) Any regulations, policies, or reporting requirements established by the Financial Crimes Enforcement Network of the United States Department of the Treasury.
(4) Subchapter II of Chapter 53 of Title 31 of the United States Code, including 31 U.S.C. 5318(l), and 31 CFR Chapter X, including 31 CFR 1020.220.
(5) Any other state or federal money laundering statutes or regulations that apply to a financial institution (as defined in IC 28-1-1-3(1)) other than a licensee under IC 24-4.4, IC 24-4.5, or 750 IAC 9.
(b) The department shall do the following:
(1) To the extent authorized or required by state law, investigate potential violations of, and enforce compliance with, state money laundering statutes or regulations.
(2) Investigate potential violations of federal money laundering statutes or regulations and, to the extent authorized or required by federal law:
(A) enforce compliance with the federal statutes or regulations; or
(B) refer suspected violations of the federal statutes or regulations to the appropriate federal regulatory agencies.
As added by P.L.10-2006, SEC.28 and P.L.57-2006, SEC.28. Amended by P.L.73-2016, SEC.14; P.L.176-2019, SEC.54.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-7. Repealed

Formerly: Acts 1933, c.40, s.10; Acts 1935, c.5, s.2; Acts 1945, c.348, s.6; Acts 1967, c.260, s.1; Acts 1971, P.L.394, SEC.7. Amended by Acts 1978, P.L.2, SEC.2801. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-8. Repealed

Formerly: Acts 1933, c.40, s.11; Acts 1935, c.5, s.3; Acts 1945, c.348, s.7. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-9. Repealed

Formerly: Acts 1933 c.40, s.12; Acts 1941, c.35, s.3; Acts 1945, c.348, s.8; Acts 1971, P.L.394, SEC.8. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-10. Repealed

Formerly: Acts 1933, c.40, s.13; Acts 1941, c.35, s.4; Acts 1945, c.348, s.9; Acts 1971, P.L.394, SEC.9; Acts 1974, P.L.127, SEC.2. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-11. Repealed

Formerly: Acts 1933, c.40, s.14; Acts 1937, c.33, s.1; Acts 1945, c.348, s.10; Acts 1971, P.L.394, SEC.10; Acts 1974, P.L.127, SEC.3. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-12. Repealed

Formerly: Acts 1933, c.40, s.15; Acts 1941, c.35, s.5; Acts 1945, c.348, s.11. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-14. Repealed

Formerly: Acts 1933, c.40, s.17; Acts 1941, c.35, s.6; Acts 1945, c.348, s.12; Acts 1971, P.L.394, SEC.11. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-15. Repealed

Formerly: Acts 1933, c.40, s.18; Acts 1941, c.35, s.7; Acts 1945, c.348, s.13. As amended by P.L.263-1985, SEC.5. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-16. Repealed

Formerly: Acts 1933, c.40, s.19; Acts 1945, c.348, s.14; Acts 1971, P.L.394, SEC.12; Acts 1975, P.L.283, SEC.1. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-17. Repealed

Formerly: Acts 1933, c.40, s.20; Acts 1945, c.348, s.15; Acts 1975, P.L.283, SEC.2. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-19. Repealed

Formerly: Acts 1933, c.40, s.22; Acts 1945, c.348, s.17; Acts 1971, P.L.394, SEC.13. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-20. Repealed

Formerly: Acts 1933, c.40, s.23; Acts 1945, c.348, s.18. As amended by Acts 1978, P.L.2, SEC.2802. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-22. Repealed

Formerly: Acts 1933, c.40, s.25; Acts 1941, c.83, s.1; Acts 1967, c.260, s.2; Acts 1969, c.280, s.1. As amended by P.L.263-1985, SEC.6; P.L.33-1991, SEC.3. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-23.5. Acquisition of Control of Stock Savings Banks

Sec. 23.5. This title does not prohibit the acquisition of control of one (1) or more stock savings banks by a bank holding company, a corporation, an individual, or individuals acting in concert with one (1) or more individuals if the acquisition is in compliance with section 23 of this chapter.
As added by P.L.42-1993, SEC.22.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-24. Repealed

Formerly: Acts 1933, c.40, s.26; Acts 1941, c.83, s.2; Acts 1967, c.260, s.3. As amended by P.L.263-1985, SEC.7; P.L.33-1991, SEC.5; P.L.14-1992, SEC.65. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-25. Repealed

Formerly: Acts 1933, c.40, s.27; Acts 1945, c.348, s.19. As amended by P.L.33-1991, SEC.6. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-26. Repealed

Formerly: Acts 1933, c.40, s.28; Acts 1945, c.348, s.20; Acts 1949, c.164, s.1. As amended by P.L.33-1991, SEC.7. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-27. Repealed

Formerly: Acts 1933, c.40, s.29; Acts 1935, c.5, s.4. As amended by P.L.263-1985, SEC.8. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-28. Repealed

Formerly: Acts 1933, c.40, s.30. As amended by Acts 1978, P.L.2, SEC.2803. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-29. Repealed

Formerly: Acts 1933, c.40, s.31; Acts 1963, c.433, s.1; Acts 1965, c.356, s.21; Acts 1974, P.L.128, SEC.1; Acts 1975, P.L.284, SEC.1. As amended by P.L.264-1985, SEC.1. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-30. "Financial Institution"; Confidential Information; Disclosure Prohibited

Note: This version of section effective until 1-1-2024. See also following version of this section, effective 1-1-2024.
Sec. 30. (a) As used in this section, "financial institution" means any bank, trust company, corporate fiduciary, savings association, credit union, savings bank, bank of discount and deposit, or industrial loan and investment company organized or reorganized under the laws of this state, and includes licensees and registrants under IC 24-4.4, IC 24-4.5, IC 24-7, IC 24-12, IC 28-1-29, IC 28-7-5, IC 28-8-4, IC 28-8-5, and 750 IAC 9.
(b) Except as otherwise provided, a member of the department or the director or deputy, assistant, or any other person having access to any such information may not disclose to any person, other than officially to the department, by the report made to it, or to the board of directors, partners, or owners, or in compliance with the order of a court, the names of the depositors or shareholders in any financial institution, or the amount of money on deposit in any financial institution at any time in favor of any depositor, or any other information concerning the affairs of any such financial institution.
Formerly: Acts 1933, c.40, s.32; Acts 1937, c.33, s.2; Acts 1939, c.102, s.1; Acts 1945, c.348, s.21; Acts 1967, c.260, s.4; Acts 1971, P.L.394, SEC.14. As amended by Acts 1978, P.L.2, SEC.2804; P.L.17-1984, SEC.8; P.L.33-1991, SEC.8; P.L.136-2018, SEC.205; P.L.29-2022, SEC.9.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-30-b. "Financial Institution"; Confidential Information; Disclosure Prohibited

Note: This version of section effective 1-1-2024. See also preceding version of this section, effective until 1-1-2024.
Sec. 30. (a) As used in this section, "financial institution" means any bank, trust company, corporate fiduciary, savings association, credit union, savings bank, bank of discount and deposit, or industrial loan and investment company organized or reorganized under the laws of this state, and includes licensees and registrants under IC 24-4.4, IC 24-4.5, IC 24-7, IC 24-12, IC 28-1-29, IC 28-7-5, IC 28-8-4.1, IC 28-8-5, and 750 IAC 9.
(b) Except as otherwise provided, a member of the department or the director or deputy, assistant, or any other person having access to any such information may not disclose to any person, other than officially to the department, by the report made to it, or to the board of directors, partners, or owners, or in compliance with the order of a court, the names of the depositors or shareholders in any financial institution, or the amount of money on deposit in any financial institution at any time in favor of any depositor, or any other information concerning the affairs of any such financial institution.
Formerly: Acts 1933, c.40, s.32; Acts 1937, c.33, s.2; Acts 1939, c.102, s.1; Acts 1945, c.348, s.21; Acts 1967, c.260, s.4; Acts 1971, P.L.394, SEC.14. As amended by Acts 1978, P.L.2, SEC.2804; P.L.17-1984, SEC.8; P.L.33-1991, SEC.8; P.L.136-2018, SEC.205; P.L.29-2022, SEC.9; P.L.198-2023, SEC.2.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-31. Acceptance of Examination by Federal Authority

Sec. 31. The department may, in its discretion, accept any examination of any financial institution made by federal authority in lieu of the examination made under the provisions of this article.
Formerly: Acts 1933, c.40, s.33. As amended by P.L.263-1985, SEC.9.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-32. Repealed

Formerly: Acts 1933, c.40, s.34. As amended by Acts 1978, P.L.2, SEC.2805. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-33. Repealed

Formerly: Acts 1933, c.40, s.35; Acts 1935, c.5, s.5; Acts 1937, c.33, s.3; Acts 1941, c.223, s.2; Acts 1945, c.348, s.22; Acts 1949, c.164, s.2; Acts 1955, c.94, s.1; Acts 1957, c.214, s.1; Acts 1961, c.153, s.1; Acts 1967, c.260, s.5; Acts 1971, P.L.366, SEC.10(1); Acts 1972, P.L.192, SEC.1. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-34. Repealed

Formerly: Acts 1933, c.40, s.36; Acts 1949, c.93, s.1; Acts 1959, c.120, s.1; Acts 1967, c.260, s.6; Acts 1971, P.L.394, SEC.15. As amended by Acts 1979, P.L.256, SEC.1; P.L.168-1986, SEC.1. Repealed by P.L.33-1991, SEC.58.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 2. Powers and Duties of the Department › 28-1-2-36. Solicitation of Political Contributions; Violations

Sec. 36. It is a Class A misdemeanor for a person to knowingly solicit from any officer or employee of the department any money or other property for political assessments or contributions.
Formerly: Acts 1933, c.40, s.38. As amended by Acts 1978, P.L.2, SEC.2806.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-1. Definitions

Sec. 1. (a) The definitions set forth in this section apply throughout this chapter.
(b) "Federal deposit insurance agency" means an agency or instrumentality of the United States that insures to any extent the deposits of a financial institution, including the Federal Deposit Insurance Corporation or the National Credit Union Administration.
(c) "Insolvent" means a financial institution that:
(1) is incapable of meeting the demands of creditors or depositors on a timely basis; or
(2) has liabilities in excess of the total value of its assets as determined by the department.
(d) "Receiver" means a:
(1) federal deposit insurance agency;
(2) private deposit insurer of credit unions; or
(3) designated agent of the department.
(e) "Receivership court" means the court that the department has filed the notice of possession with, under this chapter.
As added by P.L.141-1984, SEC.2. Amended by P.L.8-1991, SEC.10; P.L.262-1995, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-2. Authority of Department to Take Possession of Business and Property; Conditions; Duties of Department

Sec. 2. (a) The department may take possession of the business and property of any financial institution except a creditor licensed to make supervised or regulated loans under IC 24-4.5, whenever it appears to the department that the financial institution:
(1) is insolvent or in imminent danger of insolvency;
(2) is in an unsafe or unsound condition;
(3) has refused to pay its deposits or obligations in accordance with the terms under which those deposits or obligations were incurred;
(4) has refused to submit its records and affairs for inspection or examination by the department or federal authorities;
(5) has violated any court order, statute, rule, or regulation of the department or its articles of incorporation and that continued control of its own affairs threatens injury to the public, the financial community, its depositors, or other creditors;
(6) requests through its board of directors that the department take possession for the benefit of depositors, other creditors, shareholders, or other persons;
(7) has an impairment of its capital (the capital of a bank or trust company shall, for the purpose of this subdivision, be considered to be unimpaired so long as the sound value of its assets over and above its liabilities, exclusive of liabilities for capital notes, debentures, and capital stock, as determined by the department, equals or exceeds the minimum capital or capital stock required by the department for a bank or trust company);
(8) has neglected or refused, for a period of thirty (30) days, to comply with the terms of a duly issued order of the department, essential to preserve the solvency of the financial institution;
(9) has failed to pay the fees charged by the department under IC 28-11-3-5 after due notice of the amount of the fee has been given;
(10) has breached a fiduciary duty under IC 30-4-3-6; or
(11) has violated IC 30-4-3-7 in a way that has caused or may cause harm to fiduciary accounts.
(b) When the department makes a determination to take possession of the business and property of a financial institution under subsection (a), the department shall:
(1) make a finding to that effect and enter that finding on the records of the proceedings of the department; and
(2) cause a certified copy of the finding to be served on the president or other executive officer actively in charge of the financial institution and demand possession of the business, property, and records of the financial institution from the officer. The financial institution shall immediately surrender the possession to the department.
(c) The department or its receiver is not required to become the owner of any property to fulfill the liquidation requirements of this chapter.
As added by P.L.141-1984, SEC.2. Amended by P.L.33-1991, SEC.9; P.L.262-1995, SEC.4; P.L.176-2019, SEC.55.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-3. Holding Business and Property Until Liquidation of Affairs

Sec. 3. (a) When the department has taken possession of the business and property of a financial institution under the provisions of section 2 of this chapter, the department shall hold possession of the business and property until the affairs of the institution have been finally liquidated as provided in this chapter, unless the financial institution has undertaken the voluntary liquidation of its affairs under IC 28-1-9.
(b) If a corporate fiduciary is to be liquidated, the department may appoint an agent from within or outside the department to temporarily conduct the affairs of the corporate fiduciary until a receiver is appointed. The agent may be required to give bond and shall be paid reasonable compensation by the corporate fiduciary being liquidated.
As added by P.L.141-1984, SEC.2. Amended by P.L.262-1995, SEC.5.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-4. Notice; Entry of Cause; Hearing; Record; Rights and Liabilities of Persons Interested; Federal Deposit Insurance Corporation as Receiver

Sec. 4. (a) Immediately upon the taking possession of the business and property of any financial institution under section 2 of this chapter, the department shall give notice by:
(1) posting the notice at the main entrance of the principal office of the financial institution;
(2) causing the notice to be served upon the president or other executive officer actively in charge of the business of the financial institution; and
(3) filing the notice in the office of the circuit court, superior court, or probate court in the county where the principal office of the financial institution is located.
(b) Upon the filing of the notice under subsection (a), the clerk shall:
(1) note the filing of the notice upon the records of the receivership court; and
(2) enter the cause as a civil action upon the dockets of the court under the name and style of "In the matter of the liquidation of ___________" (inserting the name of the financial institution).
(c) The receivership court may hear and determine all issues and matters pertaining to or connected with the liquidation of the financial institution, including:
(1) the amount of the compensation and necessary expenses of any special representative, assistant, accountant, agent, or attorney employed by the department, or the receiver appointed by the department, as set forth in this chapter; and
(2) all papers and pleadings pertaining to the liquidation proceedings.
(d) All entries, orders, judgments, and decrees of the receivership court in connection with the liquidation proceedings shall be filed and entered of record in the cause of action.
(e) The rights and liabilities of a financial institution and of its creditors, depositors, shareholders, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date of the filing of the notice of possession with the receivership court. In the case of mutual debts or mutual credits of equal priority between the financial institution and another person, the credits and debts shall be set off and the balance only shall be allowed or paid. The right to set off shall be determined as of the date of the filing of the notice of possession of the financial institution under subsection (a).
(f) Notwithstanding this section, if the Federal Deposit Insurance Corporation is appointed receiver of a financial institution, subsections (a)(3), (b), (c), and (d) do not apply, and applicable federal law governs the receivership.
As added by P.L.141-1984, SEC.2. Amended by P.L.35-2010, SEC.99; P.L.84-2016, SEC.120.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-5. Receiver; Appointment; Vesting of Title to All Assets and Right to Terminate Affairs of Institution; Liens or Claims Against Property

Sec. 5. (a) The department may appoint the receiver of the closed financial institution. Unless the receiver is the Federal Deposit Insurance Corporation, the department, upon acceptance of the appointment of a receiver, shall make immediate application to the receivership court for confirmation of the receiver. The receivership court shall approve the department's application if it finds that to do so would be in the public interest. The application may be acted on by the receivership court without any notice except that provided in section 4 of this chapter. The receiver shall give a bond the director considers appropriate. However, a federal deposit insurance agency shall not be required to post any bond. If the receiver is not a federal deposit insurance agency, the director may agree to reasonable compensation for the receiver.
(b) Upon appointment as receiver, title to all assets of the financial institution vest in the receiver without the execution of any instruments of conveyance, assignment, transfer, or endorsement. If no other receiver is appointed as provided in this chapter, the department shall act as receiver and has all of the powers and duties of a receiver as provided in this chapter.
(c) Except as otherwise provided, the sole and exclusive right to liquidate and terminate the affairs of any financial institution is vested in the receiver appointed under this section, and except as otherwise provided by law, no other receiver, assignee, trustee, or liquidating agent shall be appointed by any court or any other person.
(d) After the department has taken possession of the business and property for any financial institution, no suit, action, or other proceeding at law or in equity shall be commenced or prosecuted against the financial institution upon any debt, obligation, claim, or demand.
(e) No person, firm, limited liability company, corporation, or other entity holding any of the property or credits of the financial institution shall have any lien or charge against the property or credits for any payment, advance, or clearance made after the department has taken possession. A lien shall not attach to any of the assets or property of the financial institution by reason of the entry of any judgment recovered against the institution after the department has taken possession of its business and property and while the possession continues.
(f) A receiver appointed to liquidate a corporate fiduciary must have sufficient experience in fiduciary matters.
As added by P.L.141-1984, SEC.2. Amended by P.L.8-1993, SEC.438; P.L.262-1995, SEC.6; P.L.35-2010, SEC.100.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-6. Receiver; Authority

Sec. 6. The receiver of a closed financial institution may do the following:
(1) Take possession of all books, records, and assets of the financial institution.
(2) Collect all debts, claims, and judgments belonging to the financial institution and do such other acts as are necessary to preserve and liquidate its assets.
(3) Execute in the name of the financial institution any instrument necessary or proper to effectuate its powers or perform its duties as receiver.
(4) Initiate, pursue, and defend litigation involving any right, claim, interest, or liability of the financial institution.
(5) Exercise any and all fiduciary functions of the financial institution as of the date of appointment as receiver.
(6) Borrow money as necessary in the liquidation of the financial institution and secure the borrowings by the pledge or mortgage of assets.
(7) Abandon or convey title to any holder of a mortgage, security deed, security interest, or lien against property in which the financial institution has an interest whenever the receiver determines that to continue to claim that interest is burdensome and of no advantage to the financial institution, its depositors, creditors, or shareholders.
(8) Subject to the approval of the receivership court:
(A) sell any and all real and personal property to compromise any debt, claim, or judgment due to the financial institution and discontinue any action or other proceeding pending; or
(B) pay off all mortgages, securities deeds, security agreements, and liens upon any real or personal property belonging to the financial institution and purchase at a judicial sale or at a sale authorized by court order, any real or personal property in order to protect the financial institution's equity in that property.
(9) If, at the time of liquidation, a closed financial institution holds property in trust for an individual or a corporation under or by virtue of a trust instrument, the administration of the property must be handled in the manner set forth in IC 28-1-9-7.
Notwithstanding this section, when the Federal Deposit Insurance Corporation is appointed receiver of a financial institution, subdivision (8) does not apply.
As added by P.L.141-1984, SEC.2. Amended by P.L.42-1993, SEC.23; P.L.262-1995, SEC.7; P.L.35-2010, SEC.101.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-7. Receiver's Authority to Sell Assets; Borrowing of Money for Deposit Liabilities

Sec. 7. The receiver may, with ex parte approval of the receivership court, sell all or any part of the financial institution's assets to another state or federally chartered financial institution or to a federal deposit insurance agency acting in its corporate capacity. The Federal Deposit Insurance Corporation is not required to seek ex parte approval of the receivership court. The receiver may also borrow from a federal deposit insurance agency any amount necessary to facilitate the assumption of deposit liabilities by a newly chartered or existing state or federally chartered financial institution, assigning any part or all of the assets of the financial institution as security for the loan.
As added by P.L.141-1984, SEC.2. Amended by P.L.35-2010, SEC.102.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-8. Claims; Presentation; Notice; Rejection

Sec. 8. (a) All parties having claims against the closed financial institution shall present their claims supported by proof to the receiver within one hundred eighty (180) days after the department has taken possession.
(b) The receiver shall cause notice of the claims procedure prescribed by this section to be:
(1) published once a week for twelve (12) consecutive weeks in a newspaper of general circulation published in the county in which the receivership court is located; and
(2) mailed to each person whose name appears as a creditor upon books of the financial institution at the person's last address of record.
(c) Within one hundred eighty (180) days following receipt of claim, the receiver shall notify in writing any claimant whose claim has been rejected. Notice is effective when mailed. Any claimant whose claim has been rejected by the receiver may petition the receivership court for a hearing on the claim within sixty (60) days from the date the claim is rejected.
(d) If the Federal Deposit Insurance Corporation is the receiver, compliance with this section is not required.
As added by P.L.141-1984, SEC.2. Amended by P.L.35-2010, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 3.1. Liquidation of Financial Institutions › 28-1-3.1-9. Late Claims

Sec. 9. Any claims filed after the one hundred eighty (180) day claim period prescribed by section 8 of this chapter and subsequently accepted by the receiver or allowed by the receivership court shall be entitled to share in the distribution of assets only to the extent of the undistributed assets in the hands of the receiver on the date the claims are accepted or allowed. If the Federal Deposit Insurance Corporation is the receiver, compliance with this section is not required.
As added by P.L.141-1984, SEC.2. Amended by P.L.35-2010, SEC.104.