Title 28, FINANCIAL INSTITUTIONS

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…

Sec. 1. A savings bank may discount, negotiate, sell, and guarantee promissory notes, bonds, drafts, acceptances, bills of exchange, and other evidences of debt. As added by P.L.42-1993, SEC.72.

Sec. 10. (a) A savings bank may receive deposits of state and federal public funds: (1) on the same terms and conditions; (2) with the same rights and privileges; and (3) subject to the same duties and obligations; as provided by law for banks of discount and deposit, trust compa…

Sec. 11. A savings bank may act as a fiscal or transfer agent of the United States or of any state, municipality, body politic or corporate, and in that capacity receive and disburse money. As added by P.L.42-1993, SEC.72.

Sec. 12. A savings bank may transfer, register, and countersign certificates of stock, bonds, or other evidence of indebtedness and authenticate and certify the bonds and certificates of indebtedness. As added by P.L.42-1993, SEC.72.

Sec. 13. A savings bank may act as an agent to buy and sell domestic and foreign transportation. As added by P.L.42-1993, SEC.72.

Sec. 14. (a) A savings bank may solicit and write insurance as an insurance producer or a broker for any insurance company authorized to do business in the state or states where the insurance producer or broker operates. (b) A savings bank or its affiliate (as defined in IC 28-6.…

Sec. 15. A savings bank may act as an attorney in fact or agent of any foreign or domestic person or corporation for any lawful purpose. As added by P.L.42-1993, SEC.72.

Sec. 16. (a) A savings bank may do the following: (1) Receive upon deposit for safekeeping or in escrow, money, bonds, mortgages, jewelry, plate, stock, securities, valuable papers of any kind, and other personal property. (2) Lease receptacles for safe deposits of personal prope…

Sec. 17. A savings bank may act under court appointment as any of the following: (1) Commissioner for the sale of real property. (2) Guardian of the person or estate of an incapacitated person (as defined in IC 29-3-1-7.5), or in other instances where a guardian may be appointed.…

Sec. 18. (a) A savings bank may do any of the following: (1) Act as the personal representative of the estate of a deceased individual. (2) Act as the trustee under the last will and testament of a deceased individual. (3) Act under court appointment as personal representative or…

Sec. 19. (a) A savings bank may act under court appointment as guardian, trustee, or personal representative on the application or consent of a person acting or entitled to act as such and in the place of that person. (b) An appointment under subsection (a) may be made: (1) upon …

Sec. 2. A savings bank may buy and sell exchange, coin, and bullion. As added by P.L.42-1993, SEC.72.

Sec. 20. A savings bank may do any of the following: (1) Take, accept, and execute a legal trust, duties, and powers in regard to: (A) the holding, management, sale, or disposition of property; and (B) the rents and profits from that property; that are granted or confided to the …