2021 Indiana Code
Title 23. Business and Other Associations
Article 2.5. Loan Brokers
Chapter 4. License Issuance and Renewal
23-2.5-4-1. Loan Broker License Application Requirements
Sec. 1. (a) An application for issuance or renewal of a loan broker license must contain the following:
(1) Consent to service of process under section 9 of this chapter.
(2) Evidence of the bond required by section 12 of this chapter.
(3) An application fee of two hundred dollars ($200), plus one hundred dollars ($100) for each ultimate equitable owner.
(4) An affidavit affirming that none of the applicant's ultimate equitable owners, directors, managers, or officers have been convicted, in any jurisdiction, of:
(A) a felony during the previous seven (7) years; or
(B) an offense involving fraud or deception that is punishable by at least one (1) year of imprisonment;
unless the affidavit is waived by the commissioner under subsection (b).
(5) Evidence that the applicant, if the applicant is an individual, has completed the education requirements under IC 23-2.5-6.
(6) The name and license number of each mortgage loan originator to be employed by the loan broker.
(7) The name and license number of each principal manager to be employed by the loan broker.
(8) The location of each loan broker office to be operated by the loan broker. If the loan broker operates only one (1) loan broker office or one (1) location at which mortgage loan origination activities occur, that location must be designated as the loan broker's principal place of business.
(9) The name of the individual employed by the loan broker who will serve as branch manager for any branch office operated by the loan broker.
(10) For each ultimate equitable owner, the following information:
(A) The name of the ultimate equitable owner.
(B) The address of the ultimate equitable owner, including the home address of the ultimate equitable owner if the ultimate equitable owner is an individual.
(C) The telephone number of the ultimate equitable owner, including the home telephone number if the ultimate equitable owner is an individual.
(D) The ultimate equitable owner's Social Security number and date of birth, if the ultimate equitable owner is an individual.
(b) Upon good cause shown, the commissioner may waive the requirements of subsection (a)(4) for one (1) or more of an applicant's ultimate equitable owners, directors, managers, or officers.
As added by P.L.175-2019, SEC.2.
