Title 28, FINANCIAL INSTITUTIONS

Sec. 1003. The division of consumer credit within the department is responsible for administering this chapter. As added by P.L.222-2025, SEC.5.

Sec. 101. This chapter shall be known as and may be cited as the Indiana Earned Wage Access Act. As added by P.L.222-2025, SEC.5.

Sec. 201. The following definitions apply throughout this chapter: (1) "Consumer" means an individual who: (A) resides in Indiana, as may be determined by a provider on the basis of the: (i) mailing address; or (ii) state of residence; provided by the individual; or (B) requests …

Sec. 301. This chapter does not apply to the following: (1) A federally insured depository financial institution, which may provide earned wage access services in Indiana without obtaining a license under this chapter. (2) An individual employed by: (A) a licensee; or (B) a perso…

Sec. 302. The director may require any person claiming to be exempt from licensing under section 301 of this chapter to provide information and documentation to the director demonstrating that the person qualifies for the claimed exemption. As added by P.L.222-2025, SEC.5.

Sec. 401. (a) To administer and enforce this chapter, the director may, subject to section 402 of this chapter, do any of the following: (1) Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations…

Sec. 402. (a) Except as otherwise provided in this section, the following are confidential: (1) All information or reports obtained by the department from an applicant or licensee. (2) All information contained in or related to an examination, investigation, operating report, or …

provision of records to the director by a licensee Sec. 403. (a) The director may conduct an examination or investigation of a licensee or otherwise take independent action authorized by this chapter, or by a rule adopted or order issued under this chapter, as reasonably necessar…

Sec. 404. (a) To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the director may participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors and any…

Sec. 501. (a) A person may not: (1) engage in the business of offering or providing earned wage access services; or (2) advertise, solicit, or hold itself out as offering or providing earned wage access services; unless the person is licensed under this chapter. (b) Subsection (a…

Sec. 502. (a) To establish consistent licensing between this state and other states, the director may: (1) implement all licensing provisions of this chapter in a manner that is consistent with other states that have adopted: (A) a law containing the same provisions of this chapt…

Sec. 503. (a) The department shall receive and act on all applications for licenses to offer or provide earned wage access services. Applications must be made as prescribed by the director. If, at any time, the information or record contained in: (1) an application filed under th…

Sec. 504. (a) An individual in control of a licensee or an applicant, an individual who seeks to acquire control of a licensee, and each key individual with respect to a licensee or an applicant shall furnish to the department through the NMLSR the following items: (1) The indivi…

Sec. 505. (a) An applicant for an earned wage access services 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 …

Sec. 506. (a) A license under this chapter shall be renewed annually as follows: (1) An annual renewal fee, as set by the department, shall be paid not later than December 31 of each year. (2) The renewal term is for a period of one (1) year and: (A) begins on January 1 of each y…

Sec. 507. (a) If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new earned wage access services license, the department may suspend or revoke the licensee's license in accordance with the procedures established…

Sec. 601. (a) Any person, or group of persons acting in concert, seeking to acquire control of a licensee shall obtain the written approval of the department before acquiring control. An individual: (1) is not considered to acquire control of a licensee; and (2) is not subject to…

Sec. 602. (a) A licensee adding or replacing any key individual shall: (1) provide notice in a manner prescribed by the director not later than fifteen (15) days after the effective date of the key individual's appointment; and (2) provide information as required by section 504 o…

Sec. 701. (a) A provider required to be licensed under this chapter shall maintain records in a manner that will enable the department to determine whether the provider is complying with the provisions of this chapter. The department shall be given free access to the records wher…

Sec. 801. A provider required to be licensed under this chapter shall do the following: (1) Develop and implement policies and procedures to: (A) respond to questions raised by consumers; and (B) address complaints from consumers; in an expedient manner. (2) Whenever the provider…

Sec. 802. A provider required to be licensed under this chapter shall not do any of the following: (1) Share with an employer a portion of any: (A) fees; or (B) voluntary tips, gratuities, or other donations; received from or charged to a consumer for earned wage access services.…

Sec. 803. A fee described in section 201(11)(A) of this chapter shall not exceed: (1) an amount; or (2) a percentage of the proceeds delivered to a consumer; that exceeds the limitation set forth in IC 28-8-5-17(a)(2). As added by P.L.222-2025, SEC.5.

Sec. 901. (a) A license issued by the department under this chapter may be revoked or suspended by the department if the person fails to: (1) file any renewal form required by the department; or (2) pay any license renewal fee described under section 506(a)(1) of this chapter; no…

Sec. 902. Except as otherwise provided, IC 4-21.5 applies to and governs all agency action taken by the department under this chapter. A proceeding for administrative review under IC 4-21.5-3 or judicial review under IC 4-21.5-5 must be held in Marion County. As added by P.L.222-…

Sec. 903. (a) If the department determines, after notice and an opportunity to be heard, that a person has violated this chapter, the department may, in addition to or instead of all other remedies available under this chapter, impose upon the person a civil penalty not greater t…

Sec. 904. The director, in the exercise of reasonable judgment, is authorized to compromise, settle, and collect civil penalties from a person for a violation of: (1) a provision of this chapter; or (2) an order issued or promulgated pursuant to this chapter. As added by P.L.222-…

Sec. 905. If it appears to the director that a person has committed or is about to commit a violation of a provision of this chapter or an order of the director, the director may apply to a court having jurisdiction for: (1) an order enjoining the person from violating or continu…

Sec. 906. (a) The director may enter into a consent order with a person to resolve a matter arising under this chapter. (b) A consent order must: (1) be signed by the person to whom it is issued or by an authorized representative of that person; and (2) indicate agreement to the …

document; failure to file a document Sec. 907. (a) A person who knowingly or intentionally makes a material false statement, or omits a material entry, in a document filed or required to be filed under this chapter, with the intent to deceive the recipient of the document, commit…

Sec. 1. Unless a delayed effective date is specified, the corporate existence of the corporation begins when the articles of incorporation bearing the approval stamp of the department are filed with the secretary of state. As added by P.L.14-1992, SEC.162.

Sec. 2. The filing of the articles of incorporation with the secretary of state is conclusive proof that the incorporators satisfied all conditions precedent to incorporation except in a proceeding by the state to cancel or revoke the incorporation or involuntarily dissolve the c…

Sec. 1. (a) After fixing a record date for a meeting, a corporation shall prepare an alphabetical list of the names of all the corporation's shareholders who are entitled to notice of a shareholders' meeting. The list must: (1) be arranged by voting group; (2) be arranged by clas…

Sec. 2. (a) Except as provided in subsections (b), (c), (d), and (e) or unless the articles of incorporation provide otherwise, each outstanding share, regardless of class, is entitled to one (1) vote on each matter voted on at a shareholders' meeting. (b) Absent special circumst…

Sec. 3. (a) A shareholder may vote the shareholder's shares in person or by proxy. (b) A shareholder may appoint a proxy to vote or otherwise act for the shareholder by signing an appointment form, either personally or by the shareholder's attorney-in-fact. (c) An appointment of …

Sec. 4. (a) A corporation may establish a recognition procedure by which the beneficial owner of shares that are registered in the name of a nominee is recognized by the corporation as the shareholder. The extent of this recognition may be determined in the recognition procedure.…

Sec. 5. (a) If the name signed on a vote, consent, waiver, or proxy appointment corresponds to the name of a shareholder, the corporation if acting in good faith is entitled to accept the vote, consent, waiver, or proxy appointment and give it effect as the act of the shareholder…

Sec. 6. (a) Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists with respect to that matter. Unless the articles of incorporation or this article require a greater number, a majority of the votes enti…

Sec. 7. (a) If the articles of incorporation or this article provide for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in section 6 of this chapter. (b) If the articles of incorporation or this article…

Sec. 8. The articles of incorporation may provide for a greater quorum or voting requirement for shareholders or voting groups of shareholders than is provided for by this article. As added by P.L.14-1992, SEC.163.

Sec. 9. Directors are elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present. As added by P.L.14-1992, SEC.163.

Sec. 1. (a) Books and records of the corporate fiduciary must be reasonably accessible to the department. (b) If the records of a corporate fiduciary are located outside Indiana: (1) the records shall be made available to the department at a convenient location within Indiana; or…

Sec. 2. A corporate fiduciary exercising trust powers or any powers as a fiduciary shall: (1) keep, separate and apart from its other business, separate books and accounts for its fiduciary accounts; and (2) keep all securities and property that is held for its fiduciary accounts…

Sec. 3. (a) The records of a corporate fiduciary must contain full information relative to each fiduciary account, including accounting, correspondence, and legal documentation as needed for the successful administration of the account. (b) The records of a corporate fiduciary mu…

Sec. 4. A corporate fiduciary shall keep correct and complete books of accounts and minutes of the proceedings of shareholders, directors, executives, and finance committees. As added by P.L.262-1995, SEC.90.

Sec. 5. A corporate fiduciary shall keep at its principal office: (1) an original or a duplicate stock transfer book; or (2) records setting forth: (A) the names and addresses of all shareholders; and (B) the number of shares held by each shareholder; or (3) the records described…

Sec. 1. (a) The following limits apply to the loans that a savings association may make to one (1) borrower: (1) Loans that a savings association may make to one (1) borrower are restricted by the provisions of 12 U.S.C. 84 and 12 CFR 32. (2) Notwithstanding subdivision (1), a sa…