Prospective borrower funds; requirements
Ind. Code § 23-2.5-8-10
in effectSec. 10. If a licensee or a person required to be licensed under this article possesses funds that belong to another person, including money received by or on behalf of a prospective borrower, the licensee or person required to be licensed shall:
(1) upon request of the prospective borrower, account for the funds possessed for the prospective borrower;
(2) follow reasonable and lawful instructions from the prospective borrower concerning the prospective borrower's funds; and
(3) return the prospective borrower's unspent funds to the prospective borrower in a timely manner.
As added by P.L.175-2019, SEC.2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026