Indiana Code Title 24. Trade Regulation § 24-4.5-6-120

Sec. 120. (a) A notice issued under section 119 of this chapter must:

(b) If a hearing is requested not later than ten (10) days after service of the notice described under subsection (a), the department shall hold a hearing concerning the alleged violation, practice, or breach.  The hearing shall be held not later than forty-five (45) days after receipt of the request.  The department, based on the evidence presented at the hearing, shall enter a final order in accordance with section 122 of this chapter.

(c) If no hearing is requested within the period of time specified in subsection (b), the director may proceed to issue a final order under section 122 of this chapter on the basis of the facts set forth in the notice described under subsection (a).

(d) An officer, a director, or a manager of a creditor who is removed from a position under a removal order under section 122 of this chapter that has become final may not, without the approval of the director, participate in the conduct of the affairs of a licensee described under IC 24-4.5-3.

(e) The director may, for the protection of the creditor or the interests of the creditor's customers, suspend from office or prohibit from participation in the affairs of the creditor an officer, a director, or a manager of a creditor who is the subject of a written notice served by the director under section 119(a) of this chapter.  A suspension or prohibition under this subsection becomes effective upon service of the notice under section 119(a) of this chapter.  Unless stayed by a court in a proceeding authorized by subsection (f), the suspension or prohibition remains in effect pending completion of the proceedings related to the notice served under section 119(a) of this chapter and until the effective date of an order entered by the department under subsection (b) or the director under subsection (c).  If the director suspends or prohibits participation of an officer, a director, or a manager under this subsection, copies of the notice shall also be served upon the creditor or affiliate of which the person is an officer, a director, or a manager.

(f) Not more than fifteen (15) days after an officer, a director, or a manager has been suspended from office or prohibited from participation in the conduct of the affairs of the creditor or affiliate under subsection (e), the officer, director, or manager may apply to a court having jurisdiction for a stay of the suspension or prohibition pending completion of the proceedings related to the notice served under section 119(a) of this chapter.  The court may stay a suspension of prohibition of the officer, director, or manager.

(g) The department shall maintain an official record of a proceeding under this chapter.