Indiana Code 23-2.5-5-8. Ceasing loan processing activities; requirements
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Sec. 8. If a loan processing company ceases to engage in loan processing activities for any reason, the loan processing company shall do the following:
(2) Notify the commissioner of the exact physical address where the records will be maintained under subdivision (1).
(1) Before ceasing loan processing activities, arrange for the preservation and maintenance of the records described in IC 23-2.5-9-2 for the remainder of the two (2) year maintenance period required by IC 23-2.5-9-2.
Terms Used In Indiana Code 23-2.5-5-8
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by P.L.175-2019, SEC.2.