1. (a) A corporate fiduciary that:

   1. (1) fails to prepare and submit a statement of condition required by the department under section 2 of this chapter; or

   2. (2) violates any order of the department with respect to a statement of condition required by the department under section 2 of this chapter;

      is subject to a civil penalty of one hundred dollars ($100) for each day that elapses after the date fixed by the department for compliance with the notice concerning the statement of condition.

2. (b) A penalty paid under subsection (a) must be deposited in the financial institutions fund established by IC 28-11-2-9 .

As added by P.L.262-1995, SEC.90.