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Indiana Code Title 23. Business and Other Associations § 23-2-6-36

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

Sec. 36. (a) In addition to specific authority granted under this chapter, the commissioner may make, amend, and rescind rules, forms, and orders necessary to carry out this chapter.

(b) Unless specifically provided in this chapter, a rule, a form, or an order may not be adopted, amended, or rescinded unless the commissioner finds that the action is:

(1) necessary or appropriate for the public interest or for the protection of investors;  and

(2) consistent with the purposes fairly intended by the policy and provisions of this chapter.

(c) All rules and forms of the commissioner must be published.

(d) A provision of this chapter imposing any liability does not apply to an act that is:

(1) committed or omitted in good faith;  and

(2) in conformity with a rule, an order, or a form adopted or issued by the commissioner;

even if the rule, order, or form is later amended, rescinded, or is determined to be invalid for any reason by judicial authority or other authority.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2-6-36 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-6-36/

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