Sec. 4. The commissioner may do either of the following:

(1) Censure:

Terms Used In Indiana Code 23-2.5-11-4

  • 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
(A) a licensee;

(B) an officer, a director, an ultimate equitable owner, or an equitable owner of a loan broker; or

(C) another person;

who violates or causes a violation of this article.

(2) Permanently bar a person described in subdivision (1) from being:

(A) licensed under this article; or

(B) employed by, or affiliated with, a person that is licensed under this article;

if the person violates or causes a violation of this article.

As added by P.L.175-2019, SEC.2.