Section 28-11-4-2 - Unsafe or unsound practices or violations of law; notice of charges; joint exercise of enforcement powers with federal regulatorsIf the director has reasonable cause to believe that a financial institution:
(1) has engaged, is engaging, or will engage in an unsafe or unsound practice in conducting the business of the financial institution; or(2) has violated, is violating, or will violate a:(C) condition imposed in writing by the director in connection with the granting of an application or other request by the financial institution; or(D) written agreement entered into with the department; the director may issue and serve upon the financial institution a notice of charges of the practice or violation. The department may, when appropriate, exercise enforcement powers under this chapter jointly with a financial institution's primary federal regulator.
As added by P.L. 33-1991, SEC.56. Amended by P.L. 141-2005, SEC.22.