Indiana Code Title 28. Financial Institutions § 28-8-6-505

Sec. 505. (a) An applicant for an earned wage access services license must provide, and a licensee at all times must maintain, security consisting of a surety bond in a form satisfactory to the director.

(b) Subject to subsections (c) and (d), the amount of the required security under this section is the greater of:

(c) A licensee that maintains a bond in the maximum amount of two hundred fifty thousand dollars ($250,000) set forth in subsection (b)(2) is not required to calculate the licensee's average daily provision of proceeds to Indiana consumers for purposes of this section.

(d) A licensee may exceed the maximum required bond amount of two hundred fifty thousand dollars ($250,000) set forth in subsection (b)(2).