Sec. 1. This chapter does not apply to the following: (1) The United States or an instrumentality of the United States. (2) The state, a political subdivision of the state, or an instrumentality of the state or of a political subdivision of the state. (3) A bank, a bank holding company, an industrial loan and […]
Sec. 10. As used in this chapter, “licensed activities” means money transmission activities: (1) that a licensee engages in: (A) from a place of business in Indiana; or (B) with a consumer who is a resident of Indiana and who enters into the transaction in Indiana; and (2) for which a licensee has obtained a […]
Sec. 11. As used in this chapter, “licensee” means a person licensed under this chapter. As added by P.L.42-1993, SEC.85.
Sec. 12. As used in this chapter, “material litigation” means litigation that under United States generally accepted accounting principles is considered significant to the financial health of a business and would be required to be referenced in a corporation’s or business’s annual audited financial statements, report to shareholders, or a similar document. As added by […]
Sec. 13. (a) As used in this chapter, “money transmission” means an activity that: (1) involves: (A) the sale or issuance of payment instruments primarily for personal, family, or household purposes; or (B) engaging in the business of: (i) receiving money for transmission from; or (ii) transmitting money to; any location and by any means, […]
Sec. 13.8. As used in this chapter, “organization” means a corporation, a government or governmental subdivision, an agency, a trust, an estate, a partnership, a limited liability company, a cooperative, an association, a joint venture, an unincorporated organization, or any other entity, however organized. As added by P.L.216-2013, SEC.43.
Sec. 14. As used in this chapter, “outstanding payment instrument” means a payment instrument issued by the licensee that: (1) has been sold in the United States; (2) has been sold: (A) by the licensee; or (B) by an authorized delegate of the licensee and has been reported to the licensee as having been sold; […]
Sec. 15. (a) As used in this chapter, “payment instrument” means: (1) a check; (2) a draft; (3) a money order; (4) a traveler’s check; (5) a stored value card, other than a closed system stored value card; or (6) an instrument or written order for the transmission or payment of money; sold or issued […]
Sec. 16. As used in this chapter, “permissible investments” means: (1) cash; (2) certificates of deposit or other debt obligations of a financial institution, either domestic or foreign; (3) bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers’ acceptances, that are eligible for purchase by member […]
Sec. 17. As used in this chapter, “person” means an individual or an organization. As added by P.L.42-1993, SEC.85. Amended by P.L.216-2013, SEC.44.
As added by P.L.42-1993, SEC.85. Repealed by P.L.216-2013, SEC.45.
Sec. 19. As used in this chapter, “the state” means Indiana. As added by P.L.42-1993, SEC.85.
Sec. 19.5. As used in this chapter, “stored value card” means a card or device that: (1) may be used by a holder to: (A) perform financial transactions; or (B) obtain, purchase, or receive money, goods, or services; in an amount or having a value that does not exceed the dollar value of the card; […]
Sec. 2. As used in this chapter, “applicant” means a person filing an application for a license under this chapter. As added by P.L.42-1993, SEC.85.
Sec. 20. (a) A person may not engage in the business of money transmission: (1) from a place of business in Indiana; or (2) with a consumer who is a resident of Indiana and who enters into the transaction in Indiana; without a license required by this chapter. (b) An application for a license must […]
Sec. 20.5. (a) As used in this section, “Nationwide Multistate Licensing System and Registry” (or “Nationwide Mortgage Licensing System and Registry” or “NMLSR”) means a multistate licensing system owned and operated by the State Regulatory Registry, LLC, or by any successor or affiliated entity, for the licensing and registration of creditors, mortgage loan originators, and […]
Sec. 21. (a) An application for a license under this chapter must be: (1) in writing; (2) under oath; and (3) in a form prescribed by the director. (b) An application for a license must be accompanied by the following: (1) A surety bond as required by section 27 of this chapter. If requested, the […]
As added by P.L.42-1993, SEC.85. Amended by P.L.122-1994, SEC.102. Repealed by P.L.90-2008, SEC.80.
As added by P.L.42-1993, SEC.85. Amended by P.L.122-1994, SEC.103. Repealed by P.L.90-2008, SEC.80.
Sec. 24. An application for licensure under this chapter must contain the following: (1) The name of the applicant. (2) The applicant’s principal address. (3) A fictitious or trade name, if any, used by the applicant in the conduct of its business. (4) The location of the applicant’s business records. (5) The history of the […]
