Effective 1-1-2026. Sec. 504. (a) An individual in control of a licensee or an applicant, an individual who seeks to acquire control of a licensee, and each key individual with respect to a licensee or an applicant shall furnish to the department through the NMLSR the following items: (1) The individual's fingerprints for submission to the Federal Bureau of Investigation and the department for purposes of a national criminal history background check. (2) Personal history and experience, in a form and by a medium prescribed by the director, including the following: (A) An independent credit report from a consumer reporting agency unless the individual does not have a Social Security number, in which case a credit report is not required. (B) Information related to any criminal convictions with respect to, or pending charges against, the individual. (C) Information related to any: (i) regulatory or administrative action; or (ii) civil litigation; involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breach of fiduciary duty, or breach of contract. (b) The director may: (1) waive one (1) or more requirements set forth in subsection (a); or (2) permit an applicant to submit other information instead of meeting one (1) or more of the requirements set forth in subsection (a).
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