Title 23, BUSINESS AND OTHER ASSOCIATIONS

Sec. 0.1. The amendments made to sections 1 and 8 of this chapter by P.L.24-1989 are clarifications only and should not be construed as modifications of existing law. As added by P.L.220-2011, SEC.379.

Sec. 1. As used in this chapter: "Bona fide employee" means a person who is a regular, nontemporary employee of a charitable organization under the direct and exclusive control of the organization. The term does not include a person that: (1) solicits contributions for a charitab…

Sec. 2. (a) A person may not act as a professional fundraiser consultant or professional solicitor for a charitable organization unless the person has first registered with the division. A person who applies for registration shall disclose the following information while under oa…

Sec. 3. All registration statements and information required to be filed under this chapter with the division, are public records. The division shall maintain these records for at least two (2) years, and shall make them available to the general public for inspection and photocop…

Sec. 4. (a) A professional fundraiser consultant or professional solicitor who applies for registration shall pay a fee of one thousand dollars ($1,000). A partnership, limited liability company, corporation, or other entity that intends to act as a professional fundraiser consul…

Sec. 5. (a) Every professional fundraiser consultant and professional solicitor required to register under this chapter shall keep accurate fiscal records regarding its activities in Indiana. A professional fundraiser consultant or professional solicitor shall retain the records …

Sec. 6. (a) A professional solicitor subject to registration under this chapter or a person who is employed to solicit or act on behalf of a professional solicitor subject to registration under this chapter shall disclose at the time of the solicitation and before the donor agree…

Sec. 7. (a) A person who solicits charitable contributions may not: (1) use the fact of registration as an endorsement by the state; (2) misrepresent that the person is an officer or employee of a public safety agency; (3) use the name "police", "law enforcement", "trooper", "res…

Sec. 8. (a) The division may receive, investigate, and prosecute complaints concerning the activities of professional fundraiser consultants and professional solicitors who: (1) may be subject to this chapter; or (2) have or may have violated this chapter. All complaints must be …

Sec. 9. (a) In the administration of this chapter, the attorney general may accept an assurance of voluntary compliance with respect to any violation of this chapter. The assurance of voluntary compliance may include any of the following: (1) Stipulation for the voluntary payment…

Sec. 1. A benefit corporation may have an officer designated as the benefit officer. As added by P.L.93-2015, SEC.3.

Sec. 2. A benefit officer shall have: (1) the powers and duties relating to the purpose of the benefit corporation to create general public benefit or a specific public benefit provided: (A) by the bylaws; or (B) absent controlling provisions in the bylaws, by resolutions or orde…

Sec. 1. A partnership interest is personal property. A partner has no interest in specific limited partnership property. As added by P.L.147-1988, SEC.1.

Sec. 2. Unless otherwise provided in the partnership agreement: (1) a partnership interest is assignable in whole or in part; (2) an assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become a partner or to exercise any rights …

Sec. 3. On application to a court by any judgment creditor of a partner, the court may charge the partnership interest of the partner with payment of the unsatisfied amount of the judgment, with interest. To the extent so charged, the judgment creditor has only the rights of an a…

Sec. 4. (a) An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner, if and to the extent that: (1) the partnership agreement so provides; or (2) all other partners consent in writing. (b) An assignee who has become a limite…

Sec. 5. (a) If a partner who is an individual dies or a court adjudges the partner to be mentally incompetent, the partner's personal representative, guardian, conservator, or other legal representative may exercise all of the partner's rights for the purpose of settling the part…

Sec. 1. (a) A member may resign at any time. (b) The resignation of a member does not relieve the member from any obligations the member may have to the corporation as a result of obligations incurred or commitments made before a resignation. As added by P.L.179-1991, SEC.1.

Sec. 2. (a) A member of a public benefit or mutual benefit corporation may not be expelled or suspended and a membership or memberships in such a corporation may not be terminated or suspended except under a procedure that is: (1) fair and reasonable; and (2) carried out in good …

Sec. 3. (a) A public benefit or religious corporation may not purchase any of the corporation's memberships or any right arising from a membership. (b) A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amoun…

Sec. 1. Except as otherwise provided in a written operating agreement, a suit on behalf of a limited liability company may be brought in the name of the limited liability company by the following: (1) A member of a limited liability company, whether or not the articles of organiz…

Sec. 2. A determination that a member or manager does not have authority to sue on behalf of the limited liability company under section 1 of this chapter may not be asserted for the following: (1) As a defense to an action brought by the limited liability company. (2) As a basis…

Sec. 1. (a) A contract for the services of a loan broker is not enforceable unless the contract is in writing and signed by each of the contracting parties. (b) At the time a contract for the services of a loan broker is signed, the loan broker shall provide the following to each…

Sec. 10. If a licensee or a person required to be licensed under this article possesses funds that belong to another person, including money received by or on behalf of a prospective borrower, the licensee or person required to be licensed shall: (1) upon request of the prospecti…

Sec. 11. (a) A loan broker shall, when required by the commissioner, submit reports of condition to the: (1) commissioner; and (2) Nationwide Multistate Licensing System. (b) A report required by this section must be in the form and contain the information required by the commiss…

Sec. 2. (a) A licensee or a person required to be licensed under this article shall not knowingly bribe, coerce, or intimidate another person to corrupt or improperly influence the independent judgment of a real estate appraiser with respect to the value of real estate offered as…

Sec. 3. (a) If a transaction for which a loan broker has charged a fee is rescinded by a person under the federal Truth in Lending Act (15 U.S.C. 1601-1667e) within twenty (20) calendar days after the date on which a notice of the rescission is delivered to the creditor, the loan…

Sec. 4. A loan broker agreement must be assigned an account number. As added by P.L.175-2019, SEC.2.

Sec. 5. A loan broker shall maintain the following records, or the electronic equivalent of the following: (1) A file for each borrower or prospective borrower that contains the following: (A) The name and address of the borrower or prospective borrower. (B) A copy of the signed …

Sec. 6. (a) The records maintained under section 5 of this chapter must be: (1) maintained for two (2) years in the office of the loan broker in which the loan was originated; and (2) separate or readily identifiable from the records of any other business that is conducted in the…

Sec. 7. (a) A loan broker that ceases to conduct business as a loan broker or allows the loan broker license to lapse shall, before ceasing to conduct business as a loan broker, arrange for the preservation of the records specified in section 5 of this chapter for the remainder o…

Sec. 8. If a breach of the security of a record: (1) maintained by a loan broker under this chapter; and (2) containing the unencrypted, unredacted personal information of a borrower or prospective borrower; occurs, the loan broker is subject to the disclosure requirements of IC …

Sec. 9. A licensee may not dispose of the unencrypted, unredacted personal information of a borrower or prospective borrower without first shredding, incinerating, mutilating, erasing, or otherwise rendering the information illegible or unusable. As added by P.L.175-2019, SEC.2.