# Ind. Code § 28-8-4.1-403: Director's authority to conduct examinations and investigations; access to records; costs of examination; persons operating without a license > Indiana · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-403 ## Section - **Citation:** Ind. Code § 28-8-4.1-403 - **Heading:** Director's authority to conduct examinations and investigations; access to records; costs of examination; persons operating without a license - **Jurisdiction:** Indiana - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Indiana Code / Title 28 / Article 8 / Chapter 4.1 / Section 28-8-4.1-403 ## Text Sec. 403. (a) The director may conduct an examination or investigation of a licensee or an authorized delegate or otherwise take independent action authorized by this chapter, or by a rule adopted or order issued under this chapter, as reasonably necessary or appropriate to administer and enforce this chapter, regulations implementing this chapter, and other applicable law, including the Bank Secrecy Act and the USA Patriot Act of 2001 (P.L. 107-56). The director may: (1) conduct an examination either onsite or offsite as the director may reasonably require; (2) conduct an examination in conjunction with an examination conducted by other state agencies or agencies of another state or of the federal government; (3) accept the examination report of another state agency or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, with any such report considered, upon being accepted and for all purposes, as an official report of the director; and (4) summon and examine under oath a key individual or employee of a licensee or authorized delegate and require the person to produce records regarding any matter related to the condition and business of the licensee or authorized delegate. (b) A licensee or an authorized delegate shall provide, and the director shall have full and complete access to, all records the director may reasonably require to conduct a complete examination. The records must be provided at the location and in the format specified by the director. The director may use multistate record production standards and examination procedures when those standards will reasonably achieve the purposes of this subsection. (c) Unless otherwise directed by the director, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee's authorized delegates. (d) The director shall determine the sufficiency of the licensee's records and whether the licensee has made the required information reasonably available. (e) To discover violations of this chapter, the director may investigate and examine the records of any person the director believes is operating without a license, when a license is required under this chapter. The person examined must pay the reasonably incurred costs of the examination. As added by P.L.198-2023, SEC.4. ## Nearby sections - [Ind. Code § 28-8-4.1-101 Citation as Money Transmission Modernization Act](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-101.md) - [Ind. Code § 28-8-4.1-102 Purposes and policies](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-102.md) - [Ind. Code § 28-8-4.1-201 Definitions; applicability](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-201.md) - [Ind. Code § 28-8-4.1-301 Exempt persons](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-301.md) - [Ind. Code § 28-8-4.1-302 Person claiming exemption; director's authority to require information and documentation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-302.md) - [Ind. Code § 28-8-4.1-401 Authority of director of department of financial institutions; authority of department](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-401.md) - [Ind. Code § 28-8-4.1-402 Confidential information; reporting violations and complaints to the NMLS; director's authority to use the NMLS; information or material subject to privilege or confidentiality; release of information](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-402.md) - [Ind. Code § 28-8-4.1-403 Director's authority to conduct examinations and investigations; access to records; costs of examination; persons operating without a license](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-403.md) - [Ind. Code § 28-8-4.1-404 Director's authority to participate in multistate supervisory processes; authority to take independent action not waived](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-404.md) - [Ind. Code § 28-8-4.1-405 Federal law governing money transmission; state law preempted to extent of inconsistency; director's authority to provide interpretive guidance](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-405.md) - [Ind. Code § 28-8-4.1-406 Outside vendor providing services to licensee; department's authority to examine; expense of examination; refusal to permit examination](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-406.md) - [Ind. Code § 28-8-4.1-501 Engaging in the business of money transmission; license required; exceptions; license not transferrable or assignable](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-501.md) - [Ind. Code § 28-8-4.1-502 Multistate licensing processes and nationwide protocols for licensing; director's authority to use the NMLS](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-502.md) - [Ind. Code § 28-8-4.1-503 Application for license; contents; applications by business entities; required fees; director's authority to waive or substitute requirements](https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-503.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-403. Check the current official text before relying on it. Not legal advice.