reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-12. Affidavit Stating Location of Principal Office and Name of Agent for Service of Process

Sec. 12. A foreign corporation admitted to do business in this state shall keep on file with the secretary of state an affidavit setting forth the location of its principal office in this state, and the name of a person who serves as its agent or representative on whom legal process may be served.
Formerly: Acts 1933, c.40, s.335. As amended by P.L.171-1996, SEC.17.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-14. Repealed

Formerly: Acts 1933, c.40, s.337. As amended by P.L.263-1985, SEC.90; P.L.171-1996, SEC.18. Repealed by P.L.63-2001, SEC.30 and P.L.134-2001, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-15. Change of Business; Amended Certificate of Admission

Sec. 15. A foreign corporation admitted to do business in this state may alter or enlarge the nature of the business which it is authorized to transact in this state under its articles of incorporation or association or by any amendments by obtaining an amended certificate of admission from the department.
Formerly: Acts 1933, c.40, s.338. As amended by P.L.171-1996, SEC.19.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-16. Application for Amended Certificate of Admission

Sec. 16. A foreign corporation may obtain an amended certificate if it files with the department an application for an amended certificate of admission, setting forth the change in the nature of the business it intends to carry on in this state. The application shall be signed by the president or a vice president and by the secretary or cashier of the corporation.
Formerly: Acts 1933, c.40, s.339. As amended by P.L.171-1996, SEC.20.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-17. Repealed

Formerly: Acts 1933, c.40, s.340. As amended by P.L.263-1985, SEC.91; P.L.14-1992, SEC.104. Repealed by P.L.171-1996, SEC.44.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-18. Issuance of Amended Certificate of Admission

Sec. 18. Upon submission of an application for an amended certificate of admission, the department shall issue an amended certificate of admission, which shall be filed with the secretary of state. The secretary of state shall file one (1) copy of the amended certificate of admission issued by the department and shall issue to the corporation an original and a duplicate amended certificate of admission.
Formerly: Acts 1933, c.40, s.341. As amended by P.L.171-1996, SEC.21; P.L.63-2001, SEC.11 and P.L.134-2001, SEC.12.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-19. Effect of Amended Certificate of Admission

Sec. 19. A foreign corporation that has been issued an amended certificate of admission by the secretary of state shall have authority to transact in this state the business set forth in the certificate.
Formerly: Acts 1933, c.40, s.342. As amended by P.L.263-1985, SEC.92; P.L.171-1996, SEC.22; P.L.11-1998, SEC.4.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-20. Change of Business Before Approval; Personal Liability of Officers and Directors

Sec. 20. If a foreign corporation changes the nature of the business it transacts in Indiana before the business receives the department's approval, the officers and directors of such corporation shall be severally liable for the liabilities of the corporation that result from the corporation's transaction of that business in Indiana.
Formerly: Acts 1933, c.40, s.343. As amended by P.L.263-1985, SEC.93; P.L.14-1992, SEC.105; P.L.171-1996, SEC.23; P.L.11-1998, SEC.5.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-21. Statement of Withdrawal

Sec. 21. A foreign corporation may surrender its certificate of admission by filing a statement of withdrawal with the department and the secretary of state.
Formerly: Acts 1933, c.40, s.344. As amended by P.L.171-1996, SEC.24.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-22. Form; Actions Not Affected

Sec. 22. The statement of withdrawal of a foreign corporation shall be in the form prescribed by the department. The filing of the statement does not affect:
(1) any action by or against the corporation that is pending at the time of the filing; or
(2) any right of action in favor of or against the corporation existing at or before the time of the filing.
Formerly: Acts 1933, c.40, s.345. As amended by P.L.263-1985, SEC.94; P.L.14-1992, SEC.106; P.L.171-1996, SEC.25.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-24. Revocation of Certificate of Admission

Sec. 24. The certificate of admission of any foreign corporation admitted to do business in this state may be revoked at any time by the department:
(1) upon the failure of the corporation for thirty (30) days to appoint and maintain an agent in this state upon whom service of legal process may be had;
(2) upon the failure of the corporation for thirty (30) days to keep on file in the office of the secretary of state duly authenticated copies of each instrument amending its articles of incorporation;
(3) upon the failure of the corporation for thirty (30) days to file for record in the office of a county recorder the certificate of admission or any amended certificate of admission as provided by this article;
(4) upon the failure, neglect, or refusal of the corporation for thirty (30) days to pay any fee required by the laws of this state; or
(5) for willful misrepresentation of any material matter in any application, statement, affidavit, or other paper filed by such corporation pursuant to this article.
Formerly: Acts 1933, c.40, s.347. As amended by P.L.263-1985, SEC.95; P.L.171-1996, SEC.26.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-25. Duties of Department Upon Revocation

Sec. 25. (a) A certificate of admission of a foreign corporation is revoked when the department:
(1) serves a certificate of revocation upon the corporation at its principal office in Indiana; and
(2) files a copy of the certificate of revocation with:
(A) the secretary of state; and
(B) the county recorder of the county in which the principal office of the corporation in Indiana is located.
(b) Upon the serving of a certificate of revocation by the department, the authority of the corporation to transact business in this state shall cease, and the corporation shall not transact any business in this state.
Formerly: Acts 1933, c.40, s.348. As amended by P.L.171-1996, SEC.27.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 22. Foreign Corporations › 28-1-22-28. Transaction of Business Without Certificate; Offenses; Remedies

Sec. 28. (a) No foreign corporation transacting business in this state without procuring a certificate of admission, or, if such a certificate has been procured, after its certificate of admission has been withdrawn or revoked, shall maintain any suit, action or proceeding in any of the courts of this state upon any demand, whether arising out of contract or tort; and every such corporation so transacting business shall be liable in an amount not exceeding ten thousand dollars ($10,000), in an action by the attorney general in any county in which the business was transacted.
(b) If any foreign corporation shall transact business in this state without procuring a certificate of admission, or, if a certificate has been procured, after its certificate has been withdrawn or revoked, or shall transact any business not authorized by such certificate, such corporation shall not be entitled to maintain any suit or action at law or in equity upon any claim, legal or equitable, whether arising out of contract or tort, in any court in this state; and it shall be the duty of the attorney general, upon being advised that any foreign corporation is so transacting business in this state, to bring an action in the circuit court of Marion County for an injunction to restrain it from transacting unauthorized business and for the annulment of its certificate of admission, if one has been procured.
Formerly: Acts 1933, c.40, s.351. As amended by Acts 1978, P.L.2, SEC.2812; P.L.171-1996, SEC.28.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-1. Fees Payable to Secretary of State; Fee on Basis of Capital Stock of Credit Union

Sec. 1. The fees payable to the secretary of state by financial institutions which are organized or reorganized under the laws of this state and under the laws of any other state shall be the same as the fees prescribed in chapter 219 of the Acts of the general assembly of 1929, except that the fee imposed on the basis of the capital stock of any credit union shall not exceed the sum of one dollar ($1.00) for each original application and one dollar ($1.00) for each additional application for shares irrespective of the number of shares to be authorized by such application and issued thereunder.
Formerly: Acts 1933, c.40, s.352.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-2. Fees Payable to Secretary of State; Fee on Basis of Capital Stock of Savings Association

Sec. 2. The fees payable to the secretary of state by financial institutions which are organized or reorganized under the laws of this state or under the laws of any other state shall be the same as the fees prescribed in IC 23-0.5-9, except that the fee imposed on the basis of the capital stock of any savings association shall be the sum of one dollar ($1) for each original application and one dollar ($1) for each additional application for shares, irrespective of the number of shares to be authorized by such application and issued thereunder.
Formerly: Acts 1933, c.40, s.352a; Acts 1965, c.22, s.1. As amended by P.L.263-1985, SEC.97; P.L.149-1986, SEC.63; P.L.79-1998, SEC.60; P.L.118-2017, SEC.125.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-3. Repealed

Formerly: Acts 1933, c.40, s.353. As amended by P.L.263-1985, SEC.98. Repealed by P.L.11-1998, SEC.24.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-4. Trust Business of National Banks; Duty to Furnish Information Concerning Obligation Secured by Real Estate; Noncompliance

Sec. 4. (a) Any national bank located within this state may accept and execute trusts of any kind which may be committed or transferred to it, subject to the same restrictions as are imposed on state banks or trust companies under IC 28-1-11 through IC 28-1-20.
(b) Any financial institution acting as trustee, mortgagee, or in any capacity under any mortgage or stock agreement, wherein and by virtue of which notes, bonds, preferred stock or other obligations, secured by real estate, have been sold or rediscounted by such financial institution shall, upon demand of the owner of such real estate or upon demand of any holder of any such note, bond, preferred stock or other obligation for information concerning such mortgage, note, bond, preferred stock or other obligation, immediately furnish all such information to the owner or holder of such bond, note, preferred stock or other obligation or to the owner of such mortgaged real estate.
(c) A person who fails to comply with this section commits a Class C infraction.
Formerly: Acts 1933, c.40, s.354. As amended by Acts 1978, P.L.2, SEC.2813.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-5. Execution of Verified Account, Report, or Other Paper

Sec. 5. Wherever any provision of this article requires that there shall be filed any verified account, report, or other paper by any person, firm, limited liability company, or corporation, such account, report, or other paper shall be executed by the person or persons filing such account, report, or other paper or by the president or such other officer as may be designated by the board of directors of any corporation filing such account, report, or other paper, and the truth of the matters stated in the account, report, or other paper shall be sworn to under oath by such person or by such president or other officer before a notary public or other officer duly qualified to administer oaths.
Formerly: Acts 1933, c.40, s.355. As amended by P.L.263-1985, SEC.99; P.L.8-1993, SEC.444; P.L.136-2018, SEC.209.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-6. Restrictions on Incorporation and Organization

Sec. 6. (a) Except as provided in subsection (b), a mutual savings bank or a mortgage guarantee company may not be incorporated or organized under Indiana law.
(b) A mutual savings bank may be organized with all rights and privileges under IC 28-6.1 only by a mutual bank conversion under IC 28-1-21.7.
Formerly: Acts 1933, c.40, s.356; Acts 1937, c.33, s.41. As amended by P.L.263-1985, SEC.100; P.L.147-1990, SEC.8; P.L.42-1993, SEC.45; P.L.79-1998, SEC.61.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-7. Violations

Sec. 7. A person who recklessly violates a provision of chapters 1 through 23 of this article for the violation of which a penalty is not otherwise provided commits a Class B misdemeanor.
Formerly: Acts 1933, c.40, s.357. As amended by Acts 1978, P.L.2, SEC.2814.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-9. Repealed

Formerly: Acts 1933, c.40, s.362. As amended by P.L.263-1985, SEC.101. Repealed by P.L.1-1989, SEC.75.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-10. Repealed

Formerly: Acts 1933, c.40, s.364. As amended by P.L.263-1985, SEC.102. Repealed by P.L.42-1993, SEC.103.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-15. Repealed

Formerly: Acts 1933, c.40, s.370; Acts 1945, c.348, s.27. Repealed by Acts 1978, P.L.2, SEC.2824.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23. Additional Provisions Pertaining to Financial Institutions › 28-1-23-16. Withdrawal of Deposits

Sec. 16. All persons, regardless of age, may become depositors in a depository financial institution (as defined in IC 28-1-1-6) and shall be subject to the same duties and liabilities respecting their deposits. Whenever a deposit is accepted by a depository financial institution in the name of any person, regardless of age, the deposit may be withdrawn by the depositor by any of the following methods:
(1) Check or other instrument in writing. The check or other instrument in writing constitutes a receipt or acquittance if it is signed by the depositor, and constitutes a valid release and discharge to the depository financial institution for all payments so made.
(2) Electronic means through:
(A) preauthorized direct withdrawal;
(B) an automated teller machine;
(C) a debit card;
(D) a transfer by telephone;
(E) a network, including the Internet; or
(F) any:
(i) electronic terminal;
(ii) computer;
(iii) magnetic tape; or
(iv) other electronic means.
However, this section may not be construed to affect the rights, liabilities, or responsibilities of participants in an electronic fund transfer under the federal Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.).
As added by P.L.81-2001, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-2. "Eligible Depository Financial Institution"

Sec. 2. As used in this chapter, "eligible depository financial institution" means a credit union that is organized or reorganized under Indiana law with the express power to receive and accept deposits of money subject to withdrawal by any of the methods set forth in IC 28-1-23-16.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-3. "Eligible Individual"

Sec. 3. As used in this chapter, "eligible individual", with respect to a prize linked savings program, means an individual who:
(1) is at least eighteen (18) years of age;
(2) is a member of the eligible depository financial institution conducting the prize linked savings program; and
(3) maintains a qualified account with the eligible depository financial institution conducting the prize linked savings program.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-4. "Qualified Account"

Sec. 4. (a) As used in this chapter, "qualified account", for purposes of a prize linked savings program, means:
(1) a savings account;
(2) a time deposit; or
(3) a savings program;
that is offered by an eligible depository financial institution to an eligible individual.
(b) The term includes:
(1) an account described in subsection (a) that is a share account; and
(2) an account described in subsection (a) in which an eligible individual has an interest:
(A) individually; or
(B) jointly with another eligible individual.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-5. "Qualified Financial Program"

Sec. 5. (a) As used in this chapter, "qualified financial program", for purposes of a prize linked savings program, means any savings, debt reduction, or financial education program or product that an eligible depository financial institution offers to eligible individuals for the purpose of:
(1) educating eligible individuals in the concepts of thrift;
(2) encouraging savings by eligible individuals; or
(3) providing eligible individuals the opportunity to use and control their own money in order to improve their economic and social condition.
(b) Subject to the approval of the director, and of the eligible depository financial institution's board of directors, the term includes the following:
(1) Programs or products that encourage or require eligible individuals to open one (1) or more qualified accounts or to increase deposits or contributions to one (1) or more qualified accounts.
(2) Programs or products that encourage or require eligible individuals to deposit or transfer money into one (1) or more qualified accounts on a recurring or automatic basis.
(3) Programs or products that encourage an eligible individual to:
(A) refinance or consolidate existing debt to obtain a lower interest rate;
(B) lower the eligible individual's total debt ratio or revolving debt ratio by paying off or reducing outstanding balances; or
(C) prepare a budget or a debt reduction plan.
(4) Programs that encourage eligible individuals to:
(A) attend financial education seminars or counseling sessions sponsored by the eligible financial institution and offered free of charge; or
(B) use free online financial education, budgeting, or debt reduction tools.
(5) Any other similar savings, debt reduction, or financial education program or product that an eligible depository financial institution offers to eligible individuals for any of the purposes set forth in subsection (a).
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-6. "Prize Linked Savings Program"

Sec. 6. As used in this chapter, "prize linked savings program" means a contest:
(1) that is associated with one (1) or more qualified accounts or one (1) or more qualified financial programs offered by an eligible depository financial institution to eligible individuals;
(2) that is conducted by an eligible depository financial institution, alone or together with one (1) or more other businesses;
(3) that offers eligible individuals one (1) or more chances to win designated prizes; and
(4) in which:
(A) the sole consideration for a chance to win a designated prize is obtained by:
(i) depositing a minimum specified amount of money in a qualified account; or
(ii) participating in one (1) or more qualified financial programs; and
(B) each entry has an equal chance of being drawn.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-7. Required Conditions to Offer and Conduct a Prize Linked Savings Program

Sec. 7. (a) Subject to subsections (b) and (c) and section 8 of this chapter, and subject to any rules, policies, or guidance adopted by the director under section 9 of this chapter, an eligible depository financial institution may offer and conduct a prize linked savings program if the following conditions are met:
(1) The terms and conditions of the prize linked savings program must allow an eligible individual to obtain one (1) or more entries to win a specified prize. Subject to any limits that the eligible depository financial institution may place on the number of entries that an eligible individual is permitted to obtain for any given prize linked savings program, as set forth in the terms and conditions of the prize linked savings program, the eligible depository financial institution must allow an eligible individual to obtain an entry for a prize linked savings program only by doing either or both of the following:
(A) Depositing a minimum specified amount of money in a qualified account in accordance with the terms and conditions of the prize linked savings program.
(B) Participating in one (1) or more qualified financial programs in accordance with the terms and conditions of the prize linked savings program.
(2) Each entry in the prize linked savings program must have an equal chance of being drawn.
(3) The prize linked savings program must be approved by:
(A) the director; and
(B) the eligible depository financial institution's board of directors;
before it is offered or promoted to eligible individuals by the eligible depository financial institution.
(b) An eligible depository financial institution may not conduct a prize linked savings program if the prize linked savings program will:
(1) harm the eligible depository financial institution's ability to operate in a safe and sound manner; or
(2) mislead eligible individuals or the public.
(c) An eligible depository financial institution that conducts a prize linked savings program under this chapter shall maintain books and records relating to the conduct of the prize linked savings program in the manner and for the length of time that the director may prescribe in rules, policies, or guidance adopted under section 9 of this chapter.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-8. Statement Describing the Terms and Conditions of Prize Linked Savings Programs

Sec. 8. (a) An eligible depository financial institution that offers a prize linked savings program under this chapter shall:
(1) post in any location where entries may be submitted; and
(2) disclose in any:
(A) printed materials; or
(B) electronic media;
promoting the prize linked savings program;
a statement describing the terms and conditions of the prize linked savings program.
(b) The statement required under subsection (a) must include language specifying the following:
(1) That, except for:
(A) making a deposit described in section 7(a)(1)(A) of this chapter; or
(B) participating in one (1) or more qualified financial programs, as described in section 7(a)(1)(B) of this chapter;
no other action, and no purchase or other consideration, is necessary for an entry into the prize linked savings program.
(2) That, except for:
(A) making a deposit described in section 7(a)(1)(A) of this chapter; or
(B) participating in one (1) or more qualified financial programs, as described in section 7(a)(1)(B) of this chapter;
taking any other action, or purchasing any goods or services, will not improve the odds of winning.
(3) That the odds of winning are determined based on the number of entries received.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.2. Prize Linked Savings Programs › 28-1-23.2-9. Director Actions

Sec. 9. The director may do any of the following:
(1) Prescribe the form or manner in which an eligible depository financial institution may seek approval from the department to offer a prize linked savings program to eligible individuals.
(2) Adopt rules, policies, or guidance concerning the conduct of prize linked savings programs in Indiana.
(3) Examine the conduct of an eligible depository financial institution's prize linked savings program.
(4) Issue cease and desist orders or otherwise exercise the department's enforcement powers under IC 28-11-4 for a violation of this chapter.
As added by P.L.135-2014, SEC.3.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-1. Application of Chapter

Sec. 1. This chapter applies to the following financial institutions:
(1) A bank operating under IC 28-1-11.
(2) A credit union operating under IC 28-7-1.
(3) A savings bank operating under IC 28-6.1.
(4) A savings association operating under IC 28-15.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-2. "Electronic Activity"

Sec. 2. As used in this chapter, "electronic activity" refers to:
(1) any activity or function that a financial institution performs through electronic means or facilities; or
(2) the provision or delivery of any product or service by a financial institution through the use of electronic technology.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-3. Consistency With Safety and Soundness Standards, Consumer Protection Laws, and Supervisory Guidance

Sec. 3. An electronic activity performed by a financial institution must be consistent with the following:
(1) Standards used by the department to determine whether a financial institution is operating or will operate in a safe and sound condition.
(2) State and federal consumer protection laws and regulations.
(3) State or federal supervisory guidance considered necessary or appropriate by the director.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-4. Electronic Activities; Statutory Authorization; Standards

Sec. 4. (a) The director may determine whether an electronic activity by a financial institution is permitted under:
(1) IC 28-1-11, with respect to a bank;
(2) IC 28-7-1, with respect to a credit union;
(3) IC 28-6.1, with respect to a savings bank;
(4) IC 28-15, with respect to a savings association; or
(5) any other state statute that applies to a financial institution described in subdivisions (1) through (4).
(b) The director may establish standards or conditions designed to ensure that the electronic activities of financial institutions are:
(1) transacted as intended; and
(2) conducted safely and soundly, in accordance with other applicable statutes, regulations, or supervisory policies.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-5. Electronic Activity Authorized as Part of Financial Institution's Business

Sec. 5. (a) An electronic activity is authorized for a financial institution as part of the financial institution's business if the activity is described in:
(1) IC 28-1-11, with respect to a bank;
(2) IC 28-7-1, with respect to a credit union;
(3) IC 28-6.1, with respect to a savings bank;
(4) IC 28-15, with respect to a savings association; or
(5) any other state statute that applies to a financial institution described in subdivisions (1) through (4).
(b) In determining whether an electronic activity is authorized as part of a financial institution's business, the director shall consider the following:
(1) Whether the activity is functionally equivalent to, or a logical outgrowth of, a recognized activity of the type of financial institution under consideration.
(2) Whether the activity strengthens the financial institution by benefiting its customers or its business.
(3) Whether the activity involves risks similar in nature to those already assumed by the type of financial institution under consideration.
(4) Whether the activity may be conducted by:
(A) the same, or functionally equivalent type, of federally chartered financial institution; or
(B) the same, or functionally equivalent type, of financial institution that:
(i) is organized or reorganized under the laws of another state; and
(ii) does business in Indiana;
under the authority of applicable federal or state statutes, regulations, or supervisory policies.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-6. Electronic Activity Incidental to Financial Institution's Business

Sec. 6. (a) An electronic activity is authorized for a financial institution as incidental to the financial institution's business if the activity is convenient or useful to an activity that is:
(1) specifically authorized for the type of financial institution under consideration; or
(2) otherwise part of the business of the type of financial institution under consideration.
(b) In determining whether an electronic activity is authorized as incidental to a financial institution's business, the director may consider whether the activity:
(1) facilitates the production or delivery of the financial institution's products or services;
(2) enhances the financial institution's ability to sell or market its products or services;
(3) improves the effectiveness or efficiency of the financial institution's operations; or
(4) enables the financial institution to:
(A) use capacity acquired for its operations as a financial institution; or
(B) otherwise avoid economic loss or waste.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-7. Evaluation of Potential Risks; Authorization to Act

Sec. 7. (a) As used in this section, "potential risks", with respect to a proposed electronic activity by a financial institution, include the following:
(1) Legal risks.
(2) Transactional risks.
(3) Risk of the financial institution's noncompliance with applicable statutes, regulations, or supervisory policies.
(4) Risk of harm to the financial institution's reputation.
(b) A financial institution's board of directors and executive officers are responsible for ensuring that all potential risks are evaluated and taken into account before the financial institution undertakes any electronic activity. The board of directors and the executive officers may not delegate their responsibility under this subsection to other persons within the financial institution or to outside parties.
(c) After a financial institution's board of directors and executive officers have acted under subsection (b) to conduct an evaluation of the potential risks associated with an electronic activity, the financial institution may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that it is otherwise authorized to perform, provide, or deliver, subject to this chapter and any other applicable statutes, regulations, or supervisory policies.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-8. Activities Authorized for National Banks and Federal Credit Unions

Sec. 8. (a) A financial institution described in section 1(1), 1(3), or 1(4) of this chapter may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that a national bank is specifically authorized to perform, provide, or deliver under 12 CFR 7.5000 et seq.
(b) A financial institution described in section 1(2) of this chapter may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that a federal credit union is specifically authorized to perform, provide, or deliver under Part 721 of the National Credit Union Administration's regulations (12 CFR 721.1 et seq.).
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 23.5. Electronic Activity by Financial Institutions › 28-1-23.5-9. Performing Authorized or Required Activities Through Electronic Means

Sec. 9. A financial institution may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that it is otherwise authorized or required to perform, provide, or deliver by nonelectronic means or facilities, subject to the following:
(1) The approval of the customer or member to or for whom the activity, function, product, or service is performed, provided, or delivered.
(2) The:
(A) safety and soundness requirements; and
(B) state or federal supervisory guidance;
that the director would apply if the activity were conducted by nonelectronic means or facilities.
As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 25. Loans or Obligations Secured by the United States Government › 28-1-25-1. Exemption From Limitations Under State Laws

Sec. 1. Whenever the United States, any federal reserve bank of the United States, or any department, bureau, board, or commission of the United States, including any corporation wholly owned directly or indirectly by the United States, shall secure or guarantee the payment of or make commitment or agreement to take over or purchase the full amount of any loans or obligations of any financial institution or of any investment type industrial loan and investment company, such loans or obligations shall not be subject to any limitations in the laws of this state based upon the nature, priority, amount, location, or form of security prescribing or limiting the period for which loans or advances of credit may be made, prescribing any ratio between the amount of any loan and the appraised value of security for such loan, or requiring periodical reduction of the principal of any loan.
Formerly: Acts 1945, c.47, s.1. As amended by P.L.263-1985, SEC.104.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 25. Loans or Obligations Secured by the United States Government › 28-1-25-2. Application of Limitations Under State Laws to Unsecured Portion of Loans Partially Federally Secured

Sec. 2. Whenever the United States, any federal reserve bank of the United States, or any department, bureau, board, or commission of the United States, including any corporation wholly owned directly or indirectly by the United States, shall secure or guarantee the payment of or make commitment or agreement to take over or purchase any portion of a loan or obligation of any financial institution or any investment type industrial loan and investment company, any law of this state prescribing the ratio between the amount of any loan or obligation and the appraised value of the security for such loan or obligation shall apply only to the portion of such loan or obligation which is not secured or guaranteed or upon which there is no commitment or agreement to take over or purchase.
Formerly: Acts 1945, c.47, s.2. As amended by P.L.263-1985, SEC.105.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 25. Loans or Obligations Secured by the United States Government › 28-1-25-3. Rules

Sec. 3. To permit and encourage financial institutions and investment type industrial loan and investment companies of this state to make loans secured or guaranteed or upon which there is a commitment or agreement to take over or purchase in whole or part by the United States or an agency thereof, as described in section 1 of this chapter, on terms, provisions, and conditions equal to those applicable from time to time to national banking associations and to federal savings and loan associations, as the case may be, the department of financial institutions is hereby authorized and empowered to supplement sections 1 and 2 of this chapter by making and promulgating rules with respect to the nature, priority, amount, location, or form of security for such loans prescribing or limiting the period for which such loans or advances for credit may be made, prescribing any ratio between the amount of such loans and the appraised value of security, and requiring periodical reduction of the principal of any loan which any such financial institution of this state may make. Such rules shall not restrict the provisions of sections 1 and 2 of this chapter.
Formerly: Acts 1945, c.47, s.3. As amended by P.L.263-1985, SEC.106.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 26.5. Misrepresentation of Age › 28-1-26.5-1. Estoppel by Representation

Sec. 1. When, in case of any loan or sale made by any seller, creditor or secured party, the borrower, or any other person furnishing security on behalf of the borrower, shall, as an inducement to the seller, creditor or secured party to make the loan or sale, represent to it, in writing, that he or she is eighteen (18) years of age or older, whereas in fact such person or persons are under the age of eighteen (18) years, or shall otherwise make any false statement or representation to the seller, creditor or secured party and the seller, creditor or secured party is thereby deceived, and the loan or sale is made in reliance upon such representation, neither the person so representing, nor any one in his or her behalf, nor any person otherwise legally liable to pay such loan or sale, shall afterwards be allowed, as against such seller, creditor or secured party, to take advantage of the fact that the person making the representation was under eighteen (18) years of age, but each such person shall be estopped by such representation.
Formerly: Acts 1973, P.L.280, SEC.14.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 29. Debt Management Companies › 28-1-29-0.5. Inapplicability; Attorneys; Depository Financial Institutions; Third-Party Bill Paying Services

Sec. 0.5. (a) This chapter does not apply to:
(1) an attorney at law authorized to practice in Indiana; or
(2) persons under the supervision and control of an attorney at law authorized to practice in Indiana;
to the extent the attorney's debt management services are incidental to the attorney's practice of law.
(b) This chapter does not apply to a depository financial institution (as defined in IC 28-1-1-6).
(c) This chapter does not apply to a third-party bill paying service with which the customer contracts solely for the customer's convenience of paying routine bills, in an arrangement in which the customer retains full control over all funds deposited. The types of payments made by a bill paying service are exempt from this chapter as long as the company's actions are not an attempt, as determined by the director, to circumvent limitations under this chapter.
As added by P.L.35-2010, SEC.118. Amended by P.L.216-2013, SEC.19.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 29. Debt Management Companies › 28-1-29-2. Administration of Chapter

Sec. 2. The department shall adopt such rules and regulations as it deems advisable for the administration of this chapter, and to provide such forms and procedures as it determines to be necessary to carry out the provisions of such chapter.
Formerly: Acts 1971, P.L.397, SEC.1; Acts 1972, P.L.10, SEC.6. As amended by P.L.42-1993, SEC.47.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 29. Debt Management Companies › 28-1-29-4.1. Failure to File Renewal Application or Pay Renewal Fee; Revocation or Suspension of License

Sec. 4.1. (a) A license issued by the department under this chapter shall be revoked or suspended by the department if the licensee fails to:
(1) file any renewal application prescribed by the director; or
(2) pay any license renewal fee described under section 3 of this chapter;
within sixty (60) days after the date the renewal is due.
(b) A person whose license is revoked or suspended under this section may:
(1) pay all delinquent fees and apply for reinstatement of the license; or
(2) appeal the revocation or suspension to the department for an administrative review under IC 4-21.5-3.
Pending the decision resulting from a hearing under IC 4-21.5-3 concerning a license revocation or suspension, the license remains in force.
As added by P.L.176-1996, SEC.16. Amended by P.L.35-2010, SEC.122; P.L.89-2011, SEC.39.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 29. Debt Management Companies › 28-1-29-4.5. Collection Agencies or Process Servers; Licenses; Restriction

Sec. 4.5. After August 31, 1981, the department may not issue a license to any person who is an employee of, owner of, or affiliated in any way with a collection agency or a process serving business. Any person who was granted a license before September 1, 1981, is not affected by the restriction imposed in this section.
As added by Acts 1981, P.L.256, SEC.1. Amended by P.L.42-1993, SEC.50.
2023 Indiana Code › Title 28. Financial Institutions › Article 1. Department of Financial Institutions › Chapter 29. Debt Management Companies › 28-1-29-7.5. Felonies; Civil Actions; Enforcement Actions; Notice to Department

Sec. 7.5. (a) This section applies if, after a person has been issued a license or renewal license under this chapter, any individuals described in section 5(b)(2), 5(b)(3), or 5(b)(4) of this chapter have been convicted of a felony under Indiana law or the laws of any other jurisdiction.
(b) If this section applies, the licensee shall provide to the department the information required under section 5(c) of this chapter:
(1) not later than thirty (30) days after any person described in subsection (a) has been convicted of the felony; or
(2) if the licensee's next license renewal fee under section 3(d) of this chapter is due before the date described in subdivision (1), along with the licensee's next license renewal fee under section 3(d) of this chapter.
(c) Not later than thirty (30) days after a licensee has been served with notice of a civil action that is for the violation of this chapter by the licensee (or by an employee or agent of the licensee) and that is brought by or on behalf of a debtor who resides or resided in Indiana on:
(1) the date an agreement that is the subject of the civil action was entered into; or
(2) the date the civil action is filed;
the licensee shall provide written notice of the civil action to the department.
(d) Not later than thirty (30) days after a licensee receives notice of any enforcement action initiated against the licensee (or an employee or agent of the licensee) by a federal or state regulatory or law enforcement agency, the licensee shall notify the director in writing of the notice received.
As added by P.L.213-2007, SEC.47; P.L.217-2007, SEC.45. Amended by P.L.90-2008, SEC.30; P.L.35-2010, SEC.125; P.L.42-2011, SEC.62; P.L.216-2013, SEC.24.