23-20-1-28. Securities Restitution Fund; Threshold; Suspension of Payment of Claims; Proration of Claims After Suspension Period
Sec. 28. (a) If the fund would be reduced below two hundred fifty thousand dollars ($250,000) by payment in full of all awards that become final in a month, the division shall suspend payment of the claims that become final during the month and the following two (2) months. (b) At the end of the […]
23-20-1-13. Division’s Review of Applications; Request for Additional Information
Sec. 13. (a) The division shall review all applications to ensure that the applications are complete. (b) If an application is not complete, the application shall be returned to the claimant with a brief statement of the additional information required. (c) The claimant may, not more than thirty (30) days after receipt of the request […]
23-20-1-14. Denial of Assistance to Victim Participating in or Profiting From Securities Violation
Sec. 14. (a) Subject to subsection (b), the division may not award restitution assistance if the victim: (1) sustained the monetary injury as a result of: (A) participating or assisting in; or (B) attempting to commit or committing; a securities violation; or (2) profited or would have profited from the securities violation. (b) If the […]
23-20-1-15. Assistance Limited to One Claimant per Victim
Sec. 15. The division may not award restitution assistance under this chapter to more than one (1) claimant per victim. As added by P.L.114-2010, SEC.12.
23-20-1-16. Adjudication of Violation Required; Final Order; Failure of Party to Pay
Sec. 16. (a) The division may not award restitution assistance under this chapter unless the securities violation was adjudicated in a state or federal court or a regulatory agency administrative proceeding. (b) The division may not award restitution assistance under this chapter unless: (1) a final order has been entered ordering restitution to the victim […]
23-20-1-17. Denial of Assistance; Order Not Containing Restitution Award
Sec. 17. The division shall deny an award of restitution assistance under this chapter if a court or administrative order does not contain an award of restitution to the victim. As added by P.L.114-2010, SEC.12.
23-20-1-2. “Division”
Sec. 2. As used in this chapter, “division” refers to the securities division of the office of the secretary of state. As added by P.L.114-2010, SEC.12.
23-20-1-18. Restitution Award Overturned on Appeal; Denial or Forfeiture of Assistance
Sec. 18. (a) The division may not award restitution assistance under this chapter on behalf of a victim whose award of restitution under a court or administrative order is overturned on appeal. (b) If: (1) restitution assistance is awarded under this chapter; and (2) after the award of restitution assistance under this chapter, the victim’s […]
23-20-1-3. “Fund”
Sec. 3. As used in this chapter, “fund” refers to the securities restitution fund established by section 25 of this chapter. As added by P.L.114-2010, SEC.12.
23-20-1-19. Subrogation Rights of State
Sec. 19. (a) The state is subrogated to the rights of the person awarded restitution under this chapter to the extent of the award. (b) The subrogation rights are against the person who committed the securities violation or a person liable for the pecuniary loss. As added by P.L.114-2010, SEC.12.