Sec. 202.5. (1) If a person licensed or required to be licensed by the department to engage in mortgage transactions also engages in activities of a loan broker described in IC 23-2.5, the activities of a loan broker are subject to the following sections of the Indiana Code and any rules adopted to implement these sections:

(a) IC 23-2.5-8-1, except for IC 23-2.5-8-1(b)(2).

(b) IC 23-2.5-8-2.

(c) IC 23-2.5-11-15(b) and IC 23-2.5-11-15(c).

(d) IC 23-2.5-11-17.

(e) IC 23-2.5-8-3.

(f) IC 23-2.5-8-4 through IC 23-2.5-8-9.

(g) IC 23-2.5-8-10.

(h) IC 23-2.5-10-1.

(i) IC 23-2.5-9-1.

(j) IC 23-2.5-11-16.

     (2) Loan broker business transactions engaged in by persons licensed or required to be licensed by the department to engage in mortgage transactions are subject to examination by the department and to the examination fees described in IC 24-4.4-2-402(8)(c). The department may cooperate with the securities division of the office of the secretary of state in the department’s examination of loan broker business transactions and may use the securities division’s examiners to conduct examinations.

As added by P.L.35-2010, SEC.7. Amended by P.L.186-2015, SEC.7; P.L.69-2018, SEC.2; P.L.175-2019, SEC.4; P.L.158-2022, SEC.9; P.L.89-2024, SEC.32.