Ind. Code § 37-1-3-17 – Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund

(a) The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer in a final order issued under section 15(c)(3) of this chapter:
1. (1) The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.
2. (2) The gravity of the practice, violation, or act.
3. (3) The history of previous practices, violations, or acts.
4. (4) The economic benefit derived by the individual from the practice, violation, or act.
5. (5) Other factors that justice requires.
(b) A creditor may not indemnify a director or an officer for a civil penalty imposed in a final order under section 15(c)(3) of this chapter.
(c) Civil penalties shall be deposited in the financial institutions fund established by IC 28-11-2-9 .
[Pre-2026 Revision Citation: 24-4.4-2-404.6.]

As added by P.L.115-2026, SEC.97.