1. (a) An individual in control of a licensee or an applicant, an individual who seeks to acquire control of a licensee, and each key individual with respect to a licensee or an applicant shall furnish to the department through the NMLSR the following items:

   1. (1) The individual's fingerprints for submission to the Federal Bureau of Investigation and the department for purposes of a national criminal history background check.

   2. (2) Personal history and experience, in a form and by a medium prescribed by the director, including the following:

      1. (A) An independent credit report from a consumer reporting agency unless the individual does not have a Social Security number, in which case a credit report is not required.
      2. (B) Information related to any criminal convictions with respect to, or pending charges against, the individual.

      3. (C) Information related to any:

         1. (i) regulatory or administrative action; or

         2. (ii) civil litigation;

            involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breach of fiduciary duty, or breach of contract.

2. (b) The director may:

   1. (1) waive one (1) or more requirements set forth in subsection (a); or
   2. (2) permit an applicant to submit other information instead of meeting one (1) or more of the requirements set forth in subsection (a).

As added by P.L.222-2025, SEC.5.