If a breach occurs of the security of records that:

1. (1) are maintained by a loan processing company under this chapter; and

2. (2) contain the unencrypted, unredacted personal information of one (1) or more borrowers or prospective borrowers;

   the loan processing company is subject to the disclosure requirements under IC 24-4.9-3 . However, this section does not apply if the loan processor is exempt from the disclosure requirements under IC 24-4.9-3-4 .

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