Sec. 1. (a) The governor shall appoint a qualified individual to be the director of the department. The appointment must be without regard to political beliefs or affiliations. (b) The director shall take an oath of office before assuming office. (c) The term of the director is four (4) years. However, the director serves at […]
Sec. 2. (a) The director, with the approval of the members, shall organize the department. (b) The department must consist of at least the following divisions: (1) The division of banks and trust companies. (2) The division of consumer credit. (3) The division of credit unions. As added by P.L.33-1991, SEC.56. Amended by P.L.90-2008, SEC.68.
Sec. 3. (a) The director, on behalf of the department, shall employ qualified individuals as assistants, deputies, supervisors, and other necessary employees. Individuals employed by the director are not subject to job classifications or compensation schedules established under IC 4-15. The technical or professional qualification of an applicant shall be determined by examination, by professional […]
Sec. 4. (a) The department may require that the members, the director, or specified classes of employees of the department be covered by bonds for faithful performance of their respective duties. A requirement for purchase of faithful performance bonds may be satisfied by the purchase of a blanket bond or a crime insurance policy endorsed […]
As added by P.L.33-1991, SEC.56. Amended by P.L.10-2006, SEC.72 and P.L.57-2006, SEC.72. Repealed by P.L.100-2012, SEC.67.
Sec. 6. (a) The department shall adopt policies defining conflicts of interest by the members, the director, and the employees of the department. (b) The policies adopted under subsection (a) must include means by which conflicts of interest can be avoided. As added by P.L.33-1991, SEC.56.
Sec. 6.1. (a) The members, the director, and the employees of the department are: (1) under the jurisdiction of, and subject to the rules adopted by, the state ethics commission; and (2) subject to all other ethics rules and requirements that apply to the executive branch of state government. (b) The department may adopt additional […]
Sec. 6.2. Except as otherwise provided by law, the department is subject to the following: (1) IC 5-14-1.5. (2) IC 5-15-3. As added by P.L.213-2007, SEC.98; P.L.217-2007, SEC.96.
Sec. 7. The members, director, and employees of the department are not liable in an individual capacity except to the state for an act done or omitted in connection with the performance of their respective duties. As added by P.L.33-1991, SEC.56.
Sec. 8. (a) A member, the director, or an employee of the department authorized by the director may do the following: (1) Administer oaths and require information for any purpose under this title from any of the persons to which this title applies. (2) Require the production of books, accounts, papers, records, documents, and other […]
Sec. 9. (a) The financial institutions fund is established. (b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the state general […]
