Indiana Code 28-8-4.1-803. Action by licensee against authorized delegate; jurisdiction; equitable or legal relief; reporting of court order; authorized delegate’s knowing failure to remit money held in trust; criminal offense
(1) prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in Indiana; and
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Level 5 felony | between 1 and 6 years | up to $10,000 |
| Level 6 felony | between 6 mos. and 2 1/2 years | up to $10,000 |
| Class A misdemeanor | up to 1 year | up to $5,000 |
Terms Used In Indiana Code 28-8-4.1-803
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
if the court finds that the authorized delegate failed to remit money in accordance with the written contract required by section 801(b)(2) of this chapter, or as otherwise directed by the licensee or required by law.
(b) If the court issues an order under subsection (a) prohibiting a person from acting as an authorized delegate for any licensee, the licensee that brought the action shall:
(1) report the order to the director not later than thirty (30) days after the issuance of the order; and
(2) report the order through the NMLS not later than ninety (90) days after the issuance of the order.
(c) An authorized delegate who:
(1) holds money in trust for the benefit of a licensee; and
(2) knowingly fails to remit any amount of such money;
commits a Class A misdemeanor, if the amount of money described in subdivision (2) is not more than seven hundred fifty dollars ($750).
(d) An authorized delegate who:
(1) holds money in trust for the benefit of a licensee; and
(2) knowingly fails to remit any amount of such money;
commits a Level 6 felony, if the amount of money described in subdivision (2) is more than seven hundred fifty dollars ($750) but less than fifty thousand dollars ($50,000).
(e) An authorized delegate who:
(1) holds money in trust for the benefit of a licensee; and
(2) knowingly fails to remit any amount of such money;
commits a Level 5 felony, if the amount of money described in subdivision (2) is at least fifty thousand dollars ($50,000).
As added by P.L.198-2023, SEC.4.