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IC 24-12-9
Chapter 9. Licensure
IC 24-12-9-1
Regularly engaging in CPAP transactions; license from
department of financial institutions required
Sec. 1. After December 31, 2016, a person may not regularly
engage (as determined in accordance with the number of transactions
set forth in IC 24-4.5-1-301.5(39)) in the business of making CPAP
transactions in Indiana unless the person obtains, and maintains on
an annual basis, a CPAP license issued by the department under
IC 24-4.5-3.
As added by P.L.153-2016, SEC.7.
IC 24-12-9-2
Bonding
Sec. 2. Every person shall, at the time of filing for licensure, file
with the department of financial institutions, if required by the
department, a bond satisfactory to the department in an amount not
to exceed fifty thousand dollars ($50,000). Instead of the bond, at the
option of the person, the person may post an irrevocable letter of
credit. The terms of the bond must run concurrently with the period
during which the license will be in effect. The bond must provide
that the person will faithfully follow the law.
As added by P.L.153-2016, SEC.7.
IC 24-12-9-3
CPAP transactions entered into before July 1, 2016; exemption
Sec. 3. A CPAP transaction entered into before July 1, 2016, is
not subject to this article or to IC 24-4.5.
As added by P.L.153-2016, SEC.7.
Indiana Code 2016
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