Indiana Code 28-8-4-39. Written reports following bankruptcies or reorganizations, license revocations or suspensions, and felony indictments and convictions
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Note: This version of section effective until 1-1-2024. See also following repeal of this chapter, effective 1-1-2024.
(1) The filing for bankruptcy or reorganization by the licensee.
Sec. 39. A licensee shall file a written report with the director not later than fifteen (15) days after the occurrence of one (1) or more of the following events:
Terms Used In Indiana Code 28-8-4-39
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Conviction: A judgement of guilt against a criminal defendant.
- director: has the meaning set forth in IC 28-11-2-1. See Indiana Code 28-8-4-7
- Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
- licensee: means a person licensed under this chapter. See Indiana Code 28-8-4-11
- money transmission: means an activity that:
Indiana Code 28-8-4-13
- state: means Indiana. See Indiana Code 28-8-4-19
(2) The institution of revocation or suspension proceedings against the licensee by a state or governmental authority with regard to the licensee’s money transmission activities.
(3) A felony indictment of the licensee or of a key officer or director of the licensee related to money transmission activities.
(4) A felony conviction of the licensee or a key officer or director of the licensee related to money transmission activities.
The written report must give details concerning the event.
As added by P.L.42-1993, SEC.85.