Section 25-34.1-4-3 - Residency requirements of managing brokers; certain nonresidents may be managing brokers(a) Except as provided in subsection (b), each individual who is a managing broker shall be a resident of Indiana.(b) A nonresident may be a managing broker if none of the licensees associated with the managing broker's broker company are residents of Indiana.Amended by P.L. 116-2015, SEC. 7, eff. 7/1/2015.Amended by P.L. 127-2012, SEC. 22, eff. 7/1/2014.As added by Acts1979 , P.L. 248, SEC.1. Amended by P.L. 128-1994, SEC.5; P.L. 64-2004, SEC.21.