Section 28-8-4.1-803 - Action by licensee against authorized delegate; jurisdiction; equitable or legal relief; reporting of court order; authorized delegate's knowing failure to remit money held in trust; criminal offense(a) In an action brought by a licensee against an authorized delegate, the circuit or superior court of Marion County shall have jurisdiction to grant appropriate equitable or legal relief, including:(1) prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in Indiana; and(2) ordering the payment of restitution, damages, or other monetary relief; if the court finds that the authorized delegate failed to remit money in accordance with the written contract required by section 801(b)(2) of this chapter, or as otherwise directed by the licensee or required by law.
(b) If the court issues an order under subsection (a) prohibiting a person from acting as an authorized delegate for any licensee, the licensee that brought the action shall:(1) report the order to the director not later than thirty (30) days after the issuance of the order; and(2) report the order through the NMLS not later than ninety (90) days after the issuance of the order.(c) An authorized delegate who:(1) holds money in trust for the benefit of a licensee; and(2) knowingly fails to remit any amount of such money; commits a Class A misdemeanor, if the amount of money described in subdivision (2) is not more than seven hundred fifty dollars ($750).
(d) An authorized delegate who:(1) holds money in trust for the benefit of a licensee; and(2) knowingly fails to remit any amount of such money; commits a Level 6 felony, if the amount of money described in subdivision (2) is more than seven hundred fifty dollars ($750) but less than fifty thousand dollars ($50,000).
(e) An authorized delegate who: (1) holds money in trust for the benefit of a licensee; and(2) knowingly fails to remit any amount of such money; commits a Level 5 felony, if the amount of money described in subdivision (2) is at least fifty thousand dollars ($50,000).
Added by P.L. 198-2023,SEC. 4, eff. 1/1/2024.