Indiana § 28-1-25-3 - Rules

§ 28-1-25-3. Rules

Sec. 3. To permit and encourage financial institutions and investment type industrial loan and investment companies of this state to make loans secured or guaranteed or upon which there is a commitment or agreement to take over or purchase in whole or part by the United States or an agency thereof, as described in section 1 of this chapter, on terms, provisions, and conditions equal to those applicable from time to time to national banking associations and to federal savings and loan associations, as the case may be, the department of financial institutions is hereby authorized and empowered to supplement sections 1 and 2 of this chapter by making and promulgating rules with respect to the nature, priority, amount, location, or form of security for such loans prescribing or limiting the period for which such loans or advances for credit may be made, prescribing any ratio between the amount of such loans and the appraised value of security, and requiring periodical reduction of the principal of any loan which any such financial institution of this state may make. Such rules shall not restrict the provisions of sections 1 and 2 of this chapter.

Formerly: Acts 1945, c.47, s.3. As amended by P.L.263-1985, SEC.106.

IC 28-1-26Chapter 26. RepealedRepealed by P.L.9-2022, SEC.56.

IC 28-1-26.5Chapter 26.5. Misrepresentation of Age

28-1-26.5-1Estoppel by representation

IC 28-1-26.5-1Estoppel by representation Sec. 1. When, in case of any loan or sale made by any seller, creditor or secured party, the borrower, or any other person furnishing security on behalf of the borrower, shall, as an inducement to the seller, creditor or secured party to make the loan or sale, represent to it, in writing, that he or she is eighteen (18) years of age or older, whereas in fact such person or persons are under the age of eighteen (18) years, or shall otherwise make any false statement or representation to the seller, creditor or secured party and the seller, creditor or secured party is thereby deceived, and the loan or sale is made in reliance upon such representation, neither the person so representing, nor any one in his or her behalf, nor any person otherwise legally liable to pay such loan or sale, shall afterwards be allowed, as against such seller, creditor or secured party, to take advantage of the fact that the person making the representation was under eighteen (18) years of age, but each such person shall be estopped by such representation.

Formerly: Acts 1973, P.L.280, SEC.14.

IC 28-1-27Chapter 27. RepealedRepealed by P.L.14-1992, SEC.165.

IC 28-1-28Chapter 28. RepealedRepealed by Acts 1972, P.L.40, SEC.10.

IC 28-1-29Chapter 29. Debt Management Companies

28-1-29-0.5Inapplicability; attorneys; depository financial institutions; third-party bill paying services 28-1-29-1Definitions 28-1-29-2Administration of chapter 28-1-29-3License required; persons operating in Indiana; evidence of compliance; fees; violations; renewal; tax warrant list 28-1-29-3.1Change in control of licensee; application to department; time frame for department's decision; conditions for approval; duty of licensee to report transfer of securities; director's discretion to require new license 28-1-29-4Suspension or revocation of license; order to show cause; order of suspension or revocation; relinquishment of license; existing contracts; emergency order for revocation 28-1-29-4.1Failure to file renewal application or pay renewal fee; revocation or suspension of license 28-1-29-4.5Collection agencies or process servers; licenses; restriction 28-1-29-4.6Repealed 28-1-29-5License application; findings by the department; felonies; financial statements; denial; hearing 28-1-29-5.5Use of NMLSR in department's licensing system; reporting of information to NMLSR; confidentiality; director's authority to enter agreements; waiver of privilege; processing fee; electronic records 28-1-29-6Surety bond; requirements; amount; renewal; termination; liability; notices 28-1-29-7Repealed 28-1-29-7.5Felonies; civil actions; enforcement actions; notice to department 28-1-29-7.7Budget analysis and plan; written statement to debtor; creditor's reduction of amount owed; disclosure of tax implications 28-1-29-8Agreement between licensee and debtor; contents; delivery of electronic record; debtor's right to terminate; creditor's decision to reject or withdraw from plan; notice to creditors; payments; budget analysis; term of agreement; carrying on other business; toll free communication system; good faith 28-1-29-8.3Fees and charges; plan, written agreement, and payment to creditor required; set up fee; monthly service fee; close-out fee; department approval for additional charges; returned payment charge; fees not considered debt 28-1-29-8.6Repealed 28-1-29-8.8Debtor's failure to make payment; cancellation of agreement; letter of continuation; return of money to contract debtor 28-1-29-9Trust account; separate account for Indiana contract debtors required; commingling with funds of nonresidents with approval of director; requirements and restrictions; required balance; reconciliation procedures; embezzlement; relocating account; signatories; monthly accountings; completion or termination of contract 28-1-29-9.5Prohibited acts; unauthorized practice of law; compensation prohibited 28-1-29-9.7Advertising 28-1-29-10Repealed 28-1-29-10.5Record keeping and retention; examinations and investigations; payment of costs; court order compelling compliance; confidentiality; department's investigatory and enforcement authority; cooperative regulatory agreements; examination of vendors 28-1-29-11Impounding books, records, and accounts 28-1-29-12Repealed 28-1-29-13Enforcement by the department; civil penalties; department's recovery of costs; factors for determining amount of civil penalty; violation a Class A misdemeanor 28-1-29-14Review of department decisions; applicability of laws governing administrative orders and procedures; venue 28-1-29-15Providing materials and agreements electronically; consumer's consent required; disclosures through Internet web site; debtor's right to request written copy 28-1-29-16Disclosures and documents to be in English; translation required if another language used 28-1-29-17Soliciting or accepting contributions from debtors prohibited 28-1-29-18Delegation of duties; liability of licensee; violations by lead generators