Indiana Code 28-1-23.2-9. Director actions
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Sec. 9. The director may do any of the following:
(2) Adopt rules, policies, or guidance concerning the conduct of prize linked savings programs in Indiana.
(1) Prescribe the form or manner in which an eligible depository financial institution may seek approval from the department to offer a prize linked savings program to eligible individuals.
Terms Used In Indiana Code 28-1-23.2-9
- director: refers to the director of the department of financial institutions. See Indiana Code 28-1-23.2-1
- eligible depository financial institution: means a credit union that is organized or reorganized under Indiana law with the express power to receive and accept deposits of money subject to withdrawal by any of the methods set forth in IC 28-1-23-16. See Indiana Code 28-1-23.2-2
- prize linked savings program: means a contest:
Indiana Code 28-1-23.2-6
(3) Examine the conduct of an eligible depository financial institution’s prize linked savings program.
(4) Issue cease and desist orders or otherwise exercise the department’s enforcement powers under IC 28-11-4 for a violation of this chapter.
As added by P.L.135-2014, SEC.3.