2023 Indiana Code › Title 23. Business and Other Associations › Article 2.5. Loan Brokers › Chapter 11. Violations and Civil Enforcement › 23-2.5-11-6. Implementation; Rules; Commissioner Actions

Sec. 6. (a) The commissioner may do the following:
(1) Issue forms and orders to implement this article.
(2) Adopt rules under IC 4-22-2 to implement this article.
(3) Repeal rules, including rules and forms governing applications, notice filings, reports, and other records.
(4) Define terms consistent with this article, whether or not used in this article.
(5) Conduct investigations and examinations:
(A) in connection with an application for licensure, or a license issued, under this article;
(B) whenever it appears to the commissioner, upon the basis of a complaint or information, that reasonable grounds exist for the belief that an investigation or examination is necessary or advisable for the more complete protection of the interests of the public; and
(C) including investigations and examinations of a loan broker office, principal place of business, branch office, location listed in a mortgage loan originator's application under IC 23-2.5-4-3, appraisal company, or loan processing company.
(6) Charge, as costs of investigation or examination, reasonable expenses including:
(A) a per diem prorated on the salary of the:
(i) commissioner; or
(ii) employee performing the investigation or examination; and
(B) actual travel and hotel expenses;
to be paid by the person that is under investigation or examination and that is determined to have violated this article.
(7) After conducting an investigation or examination, issue notices and orders, including cease and desist notices and orders. A notice or order issued under this subdivision must include the following:
(A) Notice that the notice or order is issued.
(B) Notice that if the commissioner receives from the person a written request for a hearing concerning the notice or order, a hearing will be set not later than:
(i) fifteen (15) business days after the commissioner receives the request if the original order issued by the commissioner was a summary suspension, summary revocation, or denial of a license; and
(ii) forty-five (45) business days after the commissioner receives the request for an order not described in item (i).
(8) Sign, or delegate to a deputy commissioner the authority to sign orders, official certifications, documents, or papers issued under this article.
(9) Hold and conduct hearings.
(10) Hear evidence.
(11) Conduct inquiries, with or without hearings.
(12) Receive reports of investigators or other officers or employees of the state or a municipal corporation or governmental subdivision in Indiana.
(13) Administer, or cause to be administered, oaths.
(14) Subpoena witnesses and compel witnesses to attend and testify.
(15) Compel the production of books, records, and other documents.
(16) Order depositions to be:
(A) taken of witnesses that reside in Indiana or elsewhere;
(B) taken in the manner prescribed by law for depositions in civil actions; and
(C) made returnable to the commissioner.
(17) Order the same fees and mileage allowances provided for witnesses in civil cases to be paid to each witness who appears under the commissioner's order to testify before the commissioner.
(18) Provide interpretive opinions or issue determinations that the commissioner will not institute a proceeding or an action under this article against a specified person for engaging in a specified act, practice, or course of business if:
(A) the request for the interpretive opinion or determination is made after the date on which the specified act, practice, or course of business occurs; and
(B) the interpretive opinion or determination is consistent with this article.
(19) Adopt rules to establish fees for individuals requesting an interpretive opinion or a determination under subdivision (18).
(20) Subject to subsection (b):
(A) designate a multistate automated licensing system and repository (including the Nationwide Multistate Licensing System), established and operated by a third party, to serve as the sole entity responsible for:
(i) processing applications for license issuance and renewal under this article; and
(ii) performing other services that the commissioner determines are necessary for the orderly administration of the securities division's licensing system; and
(B) take action necessary to allow the securities division to participate in a multistate automated licensing system and repository described in clause (A).
(b) The commissioner's authority to designate a multistate automated licensing system and repository under subsection (a)(20) is subject to the following:
(1) The commissioner may not require:
(A) a person that is not required to be licensed under this article; or
(B) an employee or agent of a person that is not required to be licensed under this article;
to submit information to or participate in the multistate automated licensing system and repository.
(2) The commissioner may require a person that is required under this article to submit information to the multistate automated licensing system and repository to pay a processing fee considered to be reasonable by the commissioner.
(c) The commissioner shall do the following:
(1) Subject to IC 5-14-3, regularly report:
(A) violations of this article; and
(B) enforcement actions and other relevant information;
to the Nationwide Multistate Licensing System.
(2) Establish a process by which a mortgage loan originator may challenge information entered by the commissioner into the Nationwide Multistate Licensing System.
As added by P.L.175-2019, SEC.2.