Ind. Code § 37-2-7-22
Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund
As added by P.L.115-2026, SEC.97.
(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 under section 20(c)(3) of this chapter:
- (1) The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.
- (2) The gravity of the practice, violation, or breach.
- (3) The history of previous practices, violations, or breaches.
- (4) The economic benefit derived by the individual from the practice, violation, or breach.
- (5) Other factors that justice requires.
- (b) A creditor may not indemnify a director or an officer for a civil penalty imposed against the director or officer under this section.
(c) Civil penalties shall be deposited in the financial institutions fund established by IC 28-11-2-9 .
[Pre-2026 Revision Citation: 24-4.5-6-124.]
As added by P.L.115-2026, SEC.97.