Sec. 1. After December 31, 2016, a person may not regularly engage (as determined in accordance with IC 24-12-1-1(13)) in the business of making CPAP transactions with consumer claimants unless the person obtains, and maintains on an annual basis, a CPAP license issued by the department under this chapter. As added by P.L.153-2016, SEC.7. Amended […]
Sec. 10. (a) The department may issue to a person licensed under this article an order to show cause why the license should not be revoked or suspended for a period determined by the department. (b) An order issued under subsection (a) must: (1) include: (A) a statement of the place, date, and time for […]
Sec. 11. (a) A CPAP provider required to be licensed under this article shall maintain records in conformity with United States generally accepted accounting principles and practices in a manner that will enable the department to determine whether the licensee is complying with the provisions of this article. The record keeping system of a licensee […]
Sec. 12. (a) As used in this section, “control” means possession of the power directly or indirectly to: (1) direct or cause the direction of the management or policies of a CPAP provider, whether through the beneficial ownership of voting securities, by contract, or otherwise; or (2) vote at least twenty-five percent (25%) of the […]
As added by P.L.153-2016, SEC.7. Repealed by P.L.176-2019, SEC.43.
Sec. 3. A CPAP transaction entered into before July 1, 2016, is not subject to this article. As added by P.L.153-2016, SEC.7. Amended by P.L.176-2019, SEC.44.
Sec. 4. (a) Subject to subsection (f), the director may designate the NMLSR to serve as the sole entity responsible for: (1) processing applications and renewals for licenses required under section 1 of this chapter; (2) issuing unique identifiers for licensees under this chapter; and (3) performing other services that the director determines are necessary […]
Sec. 5. (a) The department shall receive and act on all applications for licenses to regularly engage as a CPAP provider in CPAP transactions. Applications must be as prescribed by the director of the department of financial institutions. If, at any time, the information or record contained in: (1) an application; or (2) a renewal […]
Sec. 6. (a) When the director requests a national criminal history background check under section 5(d)(1) of this chapter for an individual described in section 5(b) of this chapter, the director shall require the individual to submit fingerprints to the department, state police department, or NMLSR, as directed, at the time evidence of compliance is […]
Sec. 7. (a) If the director requests a credit report for an individual described in section 5(b) of this chapter, the individual to whom the request is made shall pay any fees or costs associated with procuring the report. (b) The individual must submit personal history and experience information in a form prescribed by the […]
Sec. 8. (a) If required by the department, each CPAP provider licensed by the department under this article must be covered by a surety bond in accordance with this section in an amount not to exceed fifty thousand dollars ($50,000). (b) Any surety bond required under this section must: (1) provide coverage for the CPAP […]
Sec. 9. (a) A license issued under this article must be renewed not later than December 31 of each calendar year. The minimum standards for license renewal for a CPAP provider include the following: (1) Payment by the CPAP provider of all required fees for renewal of the license. (2) The filing by the CPAP […]
