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149 chapters · 1,498 sections in this title.
Ind. Code § 28-8-4.1-1001 Duty to maintain tangible net worth; amount; director's authority to exempt applicant or licensee
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Sec. 1001. (a) A licensee under this chapter shall maintain at all times a tangible net worth of at least the greater of: (1) one hundred thousand dollars ($100,000); or (2) the total of the following: (A) Three percent (3%) of the first one hundred million dollars ($100,000,000)…
Ind. Code § 28-8-4.1-1002 Surety bond; amount of required security
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Sec. 1002. (a) An applicant for a money transmission license must provide, and a licensee at all times must maintain, security consisting of a surety bond in a form satisfactory to the director. (b) Subject to subsections (c) and (d), the amount of the required security under thi…
Ind. Code § 28-8-4.1-1003 Permissible investments; statutory trust
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Sec. 1003. (a) A licensee shall maintain at all times permissible investments that have a market value computed in accordance with United States generally accepted accounting principles of not less than the aggregate amount of all of the licensee's outstanding money transmission …
Ind. Code § 28-8-4.1-1004 Enumeration of permissible investments; letter of credit naming department as beneficiary; enumeration of permissible investments subject to limitations
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Sec. 1004. (a) The following investments are permissible under section 1003 of this chapter: (1) Cash (including demand deposits, savings deposits, and funds in such accounts held, for the benefit of the licensee's customers, in a federally insured depository financial institutio…