750 Ind. Admin. Code 9-3-4

Current through October 31, 2024

Section 750 IAC 9-3-4 - Credit checks

Authority: IC 24-4.4-1-101

Affected: IC 24-4.4; IC 24-4.5

Sec. 4.

(a) If the director requests a credit report under section 2(d)(2) of this rule, the individual to whom the request is made shall pay any fees or costs associated with procuring the report.

(b) An individual shall submit personal history and experience information in a form prescribed by the NMLSR, including the submission of authorization for the NMLSR or the director to obtain an independent credit report obtained from a consumer reporting agency described in Section 603(p) of the Fair Credit Reporting Act (15 U.S.C. 1681a(p), which is incorporated by reference).

(c) The director may consider one (1) or more of the following when determining if an individual has demonstrated financial responsibility:

(1) Bankruptcies filed within the last ten (10) years.

(2) Current outstanding judgments, except judgments solely as a result of medical expenses.

(3) Current outstanding tax liens or other government liens or filings.

(4) Foreclosures within the past three (3) years.

(5) A pattern of serious delinquent accounts within the past three (3) years.

750 IAC 9-3-4

Department of Financial Institutions; 750 IAC 9-3-4; emergency rule filed Jul 23, 2009, 4:14 p.m.: 20090729-IR-750090577ERA

Readopted filed 12/1/2015, 9:28 a.m.: 20151230-IR-750150336RFA

Readopted filed 11/3/2021, 10:48 a.m.: 20211201-IR-750210427RFA