2013 Indiana Code TITLE 24. TRADE REGULATION ARTICLE 7. RENTAL PURCHASE AGREEMENTS CHAPTER 8. REGISTRATION OF LESSORS
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IC 24-7-8
Chapter 8. Registration of Lessors
IC 24-7-8-1
Notification by lessor
Sec. 1. A lessor shall file notification with the department:
(1) within thirty (30) days after soliciting or entering into a
rental purchase agreement subject to this article; and
(2) before February 1 in each subsequent year that the lessor
solicits or enters into a rental purchase agreement subject to this
article.
As added by P.L.254-1987, SEC.1. Amended by P.L.172-1997,
SEC.15.
IC 24-7-8-2
Contents of notification
Sec. 2. The notification required under section 1 of this chapter
must include the following:
(1) The name of the lessor.
(2) The name in which business is transacted if different from
subdivision (1).
(3) The address of the principal office, which may be outside
Indiana.
(4) The address of all offices or stores, if any, in Indiana at
which rental purchase agreements are made.
(5) If rental purchase agreements are made in a place other than
an office or retail store in Indiana, a brief description of the
manner in which they are made.
(6) The address of the designated agent upon whom service of
process may be made in Indiana.
(7) Other information required by the director of the
department.
As added by P.L.254-1987, SEC.1. Amended by P.L.35-2010,
SEC.93.
IC 24-7-8-3
Corrective notification
Sec. 3. After a lessor has filed an initial or a subsequent
notification under section 1 of this chapter, the lessor shall notify the
department not later than thirty (30) days after:
(1) the lessor has a change in name or address;
(2) the lessor opens a new office or store, closes an existing
office or store, or relocates an existing office or store;
(3) the lessor files for bankruptcy or reorganization; or
(4) the lessor is notified that the lessor is subject to revocation
or suspension proceedings by a state or governmental authority
with respect to the lessor's rental purchase activities.
As added by P.L.254-1987, SEC.1. Amended by P.L.216-2013,
SEC.15.
IC 24-7-8-4
Fees; costs of examination by department; late fees
Sec. 4. (a) A lessor required to file a notification with the
department under section 1 of this chapter shall pay to the
department the following fees:
(1) A fee fixed by the department under IC 28-11-3-5 with the
initial notification filed with the department.
(2) A fee fixed by the department under IC 28-11-3-5 for each
place of business operated by the lessor on December 31 of the
preceding year with each annual notification subsequently filed
with the department.
(b) In addition to the fee required under subsection (a)(2), if the
department examines the books and records of the lessor, the lessor
shall pay to the department all reasonably incurred costs of the
examination in accordance with the fee schedule adopted by the
department under IC 28-11-3-5.
(c) The department may impose a fee fixed by the department
under IC 28-11-3-5 for each day a lessor is late in:
(1) submitting the information required under IC 24-7-8-2; or
(2) paying a fee under subsection (a) or (b).
As added by P.L.254-1987, SEC.1. Amended by P.L.138-1990,
SEC.14; P.L.14-1992, SEC.64; P.L.45-1995, SEC.19; P.L.10-2006,
SEC.23 and P.L.57-2006, SEC.23; P.L.35-2010, SEC.94;
P.L.27-2012, SEC.31.
IC 24-7-8-5
Directors, executive officers, Indiana store managers; criminal
background checks
Sec. 5. Before appointing or hiring any director, executive officer,
or Indiana store manager, a lessor must perform a criminal
background check on the candidate and retain, until the department's
next examination of the lessor is completed, records of the
background check in the lessor's files.
As added by P.L.216-2013, SEC.16.
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