IC 28-14-7-3 — Violations; penalties
Chapter 7. Requirements and Prohibitions Applying to Corporate Fiduciaries
Section text
Sec. 3. (a) A corporate fiduciary that: (1) fails to prepare and submit a statement of condition required by the department under section 2 of this chapter; or (2) violates any order of the department with respect to a statement of condition required by the department under section 2 of this chapter; is subject to a civil penalty of one hundred dollars ($100) for each day that elapses after the date fixed by the department for compliance with the notice concerning the statement of condition. (b) A penalty paid under subsection (a) must be deposited in the financial institutions fund established by IC 28-11-2-9.
As added by P.L.262-1995, SEC.90.
Source: official publisher (2026 edition)