If a breach of the security of a record:

1. (1) maintained by a loan broker under this chapter; and

2. (2) containing the unencrypted, unredacted personal information of a borrower or prospective borrower;

   occurs, the loan broker is subject to the disclosure requirements of IC 24-4.9-3 , unless the loan broker is exempt from the disclosure requirements under IC 24-4.9-3-4 .

As added by P.L.175-2019, SEC.2.