Title 23, BUSINESS AND OTHER ASSOCIATIONS

Sec. 11.5. (a) As used in this section, "office of supervisory jurisdiction" has the meaning set forth in the National Association of Securities Dealers Conduct Rule 3010(g) (as in effect on January 1, 2009). (b) A broker-dealer registered or required to be registered under this …

Sec. 12. (a) If the commissioner finds that the order is in the public interest and subsection (d) authorizes the action, an order issued under this article may deny an application, or may condition or limit registration, of an applicant to be a broker-dealer, agent, investment a…

Sec. 13. (a) For purposes of this section, "adviser" refers to any of the following: (1) An investment adviser. (2) A federal covered investment adviser. (3) An investment adviser representative. (b) A third party solicitor shall provide a copy of the third party solicitor's writ…

Sec. 2. (a) It is unlawful for an individual to transact business in this state as an agent unless the individual is registered under this article as an agent or is exempt from registration as an agent under subsection (b). (b) The following individuals are exempt from the regist…

Sec. 3. (a) It is unlawful for a person to transact business in this state as an investment adviser unless the person is registered under this article as an investment adviser or is exempt from registration as an investment adviser under subsection (b). (b) The following persons …

Sec. 4. (a) It is unlawful for an individual to transact business in this state as an investment adviser representative unless the individual is registered under this article as an investment adviser representative or is exempt from registration as an investment adviser represent…

Sec. 5. (a) Except with respect to a federal covered investment adviser described in subsection (b), it is unlawful for a federal covered investment adviser to transact business in this state as a federal covered investment adviser unless the federal covered investment adviser co…

Sec. 6. (a) A person shall register as a broker-dealer, agent, investment adviser, or investment adviser representative by filing an application and a consent to service of process complying with IC 23-19-6-11, satisfying the examination requirements of IC 23-19-4.3, and paying t…

Sec. 7. (a) A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of…

Sec. 8. (a) If an agent registered under this article terminates employment by or association with a broker-dealer or issuer, or if an investment adviser representative registered under this article terminates employment by or association with an investment adviser or federal cov…

Sec. 9. Withdrawal of registration by a broker-dealer, agent, investment adviser, or investment adviser representative becomes effective sixty (60) days after the filing of the application to withdraw or within any shorter period as provided by rule adopted or order issued under …

Sec. 1. (a) An application for issuance or renewal of a loan broker license must contain the following: (1) Consent to service of process under section 9 of this chapter. (2) Evidence of the bond required by section 12 of this chapter. (3) An application fee of two hundred dollar…

Sec. 10. (a) At the time of application for an initial license under this chapter, the commissioner shall require the following to submit fingerprints for a national criminal history background check (as defined in IC 10-13-3-12) for use by the commissioner in determining whether…

Sec. 11. In reviewing a consumer report obtained under section 3(b)(12) of this chapter, the commissioner may consider one (1) or more of the following in determining whether the individual applicant has demonstrated financial responsibility: (1) Bankruptcies filed by the individ…

Sec. 12. A loan broker shall maintain an electronic surety bond that: (1) is satisfactory to the commissioner; (2) is in the amount of sixty thousand dollars ($60,000); and (3) covers the activities of each manager and mortgage loan originator employed by the loan broker. As adde…

Sec. 13. (a) The commissioner may request evidence of compliance with this chapter at any of the following times: (1) The time of application for an initial license. (2) The time of renewal of a license. (3) Any other time considered necessary by the commissioner. (b) For purpose…

Sec. 14. A unique identifier obtained by an individual from the Nationwide Multistate Licensing System as required by IC 23-2.5-3-1, IC 23-2.5-3-2, and IC 23-2.5-3-3 may not be used for purposes other than the purposes set forth in the S.A.F.E. Mortgage Licensing Act of 2008 (Tit…

Sec. 3. (a) An application for issuance or renewal of a mortgage loan originator license must be made on a form prescribed by the commissioner. (b) An application under subsection (a) must include the following information for the individual who seeks to be licensed as a mortgage…

Sec. 4. (a) An application for issuance or renewal of a branch office license must be made on a form prescribed by the commissioner. (b) An application under subsection (a) must include the following information for the location for which licensure as a branch office is sought: (…

Sec. 5. (a) The commissioner shall issue a license and license number to an applicant for a license issued under this chapter if the applicant meets the applicable licensure requirements under this chapter. (b) A license issued under this chapter expires on December 31 of the yea…

Sec. 6. (a) A licensee under this chapter may not continue to: (1) act as a loan broker or mortgage loan originator; or (2) operate as a branch office; unless the licensee annually renews the license. (b) A licensee under this chapter shall renew the license by: (1) filing with t…

Sec. 7. (a) The license of a mortgage loan originator is not effective during any period during which the mortgage loan originator is not employed by a loan broker that is licensed under this article. (b) If a licensed mortgage loan originator seeks to transfer the licensee's lic…

Sec. 8. (a) If a material fact or statement included in an application for a license under this chapter changes after the application has been submitted, the applicant shall provide written notice to the commissioner of the change. (b) The commissioner may deny issuance, revoke, …

Sec. 9. An applicant for licensure, or renewal of a license, under this chapter shall file with the commissioner, in a form prescribed by the commissioner, an irrevocable consent appointing the secretary of state as the applicant's agent for service of process in any noncriminal …

Sec. 1. A master limited liability company must have an operating agreement. As added by P.L.170-2016, SEC.19.

Sec. 10. (a) A master limited liability company and any of its series may elect any of the following: (1) To consolidate their operations as a single taxpayer to the extent permitted under applicable law. (2) To work cooperatively. (3) To contract jointly. (4) To be treated as a …

Sec. 2. An operating agreement of a master limited liability company may establish or provide for the establishment of one (1) or more designated series of members, managers, or limited liability company interests that: (1) have separate rights, powers, or duties with respect to:…

Sec. 3. An operating agreement may also: (1) provide for classes or groups of members or managers associated with a series having relative rights, powers, and duties as the operating agreement may provide; (2) make provisions for the future creation of additional classes or group…

Sec. 4. (a) A series with limited liability must be treated as a separate entity to the extent set forth in the articles of organization of the master limited liability company. (b) Each series with limited liability may, in its own name, do all the following: (1) Contract. (2) H…

Sec. 5. In an operating agreement for a master limited liability company or in another written agreement, a member or manager may agree to be obligated personally for any or all of the debts, obligations, and liabilities of one (1) or more series. As added by P.L.170-2016, SEC.19…

Sec. 6. (a) A series may be managed, as provided in an operating agreement or series agreement, as applicable, by: (1) the member or members associated with the series; or (2) a manager or managers chosen by the members of the series. (b) Unless otherwise provided in an operating…

Sec. 7. Except as otherwise provided in an operating agreement, any event under this article or in an operating agreement that causes a manager to cease to be a manager with respect to a series does not, in itself, cause the manager to cease to be a manager of the master limited …

Sec. 8. (a) Unless otherwise provided in the operating agreement, a member ceases to: (1) be associated with a series; and (2) have the power to exercise any rights or powers of a member with respect to the series; upon the assignment, transfer, or redemption of all the member's …

Sec. 9. (a) An operating agreement may grant to: (1) all or certain identified members or managers; or (2) a specified class or group of members or managers; associated with a series the right to vote separately or with all or any class or group of the members or managers associa…