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Indiana Code Title 23. Business and Other Associations § 23-2.5-8-10

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 10. If a licensee or a person required to be licensed under this article possesses funds that belong to another person, including money received by or on behalf of a prospective borrower, the licensee or person required to be licensed shall:

(1) upon request of the prospective borrower, account for the funds possessed for the prospective borrower;

(2) follow reasonable and lawful instructions from the prospective borrower concerning the prospective borrower's funds;  and

(3) return the prospective borrower's unspent funds to the prospective borrower in a timely manner.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2.5-8-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-5-8-10/

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