Indiana Code 24-12-10-1. Powers of department of financial institutions; rules and policies; prior approval of documents
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Sec. 1. The department of financial institutions may adopt rules under IC 4-22-2 or policies to implement this article. The department of financial institutions has all authority and powers necessary to regulate CPAP transactions, including the right to require the department’s prior approval of:
(2) disclosures; and
(1) CPAP contracts;
Terms Used In Indiana Code 24-12-10-1
- Contract: A legal written agreement that becomes binding when signed.
- CPAP transaction: means a nonrecourse transaction in which a CPAP provider provides a funded amount to a consumer claimant to use for any purpose other than prosecuting the consumer claimant's civil proceeding, if the repayment of the funded amount is:
Indiana Code 24-12-1-0.5
(3) other documents;
to be used by CPAP providers in entering into CPAP transactions, in order to ensure that consumer complainants are provided with a detailed explanation of the costs and obligations involved in a CPAP transaction before entering into a CPAP contract.
As added by P.L.153-2016, SEC.7.