Sec. 4. The following qualifications apply to all individual applicants and any individual who is an officer of any corporation or a member of any partnership, limited liability company, or firm and actively manages the collection of or solicits accounts for collection for any firm, partnership, limited liability company, or corporation which makes an application for a collection agency license:

(1) The applicant must be a citizen of the United States, of good moral character, and not less than eighteen (18) years of age.

Terms Used In Indiana Code 25-11-1-4

  • Appraisal: A determination of property value.
  • collection agency: means and includes all persons engaging directly or indirectly and as a primary or secondary object, business, or pursuit, in soliciting claims for collection, or in the collection of claims owed or due or asserted to be owed or due to another, including child support arrearages under IC 31-25-4. See Indiana Code 25-11-1-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(2) The applicant must not have a record as a defaulter in the payment of money collected or received for another.

(3) The applicant must not be a former licensee under this chapter whose license has been suspended or revoked and not subsequently reinstated under this chapter.

(4) The applicant must not have made a false statement of material fact in the application for the license.

(5) The applicant must not have been, within the ten (10) years immediately preceding the date of the application:

(A) the subject of an adjudication or a determination by:

(i) a court with jurisdiction; or

(ii) an agency or administrator that regulates debt collection, securities, commodities, banking, financial services, insurance, real estate, or the real estate appraisal industry;

in Indiana or any other jurisdiction; and

(B) found, after notice and opportunity for hearing, to have violated the debt collection, securities, commodities, banking, financial services, insurance, real estate, or real estate appraisal laws of Indiana or any other jurisdiction in a manner that substantially undermines faith in the financial responsibility, character, reputation, integrity, and general fitness of the applicant or of the owners, partners, and members of the applicant, as determined by the commissioner.

(6) The applicant must not have violated:

(A) this article or rules promulgated under this article;

(B) any similar regulatory regime of another jurisdiction; or

(C) any other law applicable to the conduct of the collection agency business;

in a manner that substantially undermines faith in the financial responsibility, character, reputation, integrity, and general fitness of the applicant or of the owners, partners, and members of the applicant, as determined by the commissioner.

An applicant to whom a license is to be issued must meet the bonding requirements of section 3(f) of this chapter.

Formerly: Acts 1937, c.92, s.4; Acts 1955, c.304, s.4; Acts 1973, P.L.252, SEC.7. As amended by Acts 1978, P.L.2, SEC.2525; P.L.8-1993, SEC.378; P.L.178-1996, SEC.3; P.L.152-2020, SEC.12.

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