# Ind. Code § 28-8-4.1-404: Director's authority to participate in multistate supervisory processes; authority to take independent action not waived

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T28_A8_C4.1_S28-8-4.1-404

## Section

- **Citation:** Ind. Code § 28-8-4.1-404
- **Heading:** Director's authority to participate in multistate supervisory processes; authority to take independent action not waived
- **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 28-8-4.1-404

## Text

Sec. 404. (a) To efficiently and effectively administer and enforce this chapter and to minimize regulatory burden, the director may participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, the Money Transmitter Regulators Association, and the affiliates and successors of either organization, for all licensees that hold licenses in Indiana and other states. As a participant in multistate supervision, the director may:

(1) cooperate, coordinate, and share information with other state and federal regulators in accordance with section 402 of this chapter;

(2) enter into written cooperation, coordination, or information sharing contracts or agreements with organizations the membership of which is made up of state or federal governmental agencies; and

(3) cooperate, coordinate, and share information with organizations the membership of which is made up of state or federal governmental agencies, as long as the organizations agree in writing to maintain the confidentiality and security of the shared information in accordance with section 402 of this chapter.

(b) The director may not waive, and nothing in this section constitutes a waiver of, the director's authority to conduct an examination or investigation or to otherwise take independent action authorized by this chapter, or by a rule adopted or order issued under this chapter, to enforce compliance with applicable state or federal law.

(c) The performance of a joint examination or investigation, or acceptance of an examination or investigation report, does not waive the director's authority to perform an examination assessment provided for in this chapter.

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_S28-8-4.1-404. Check the current official text before relying on it. Not legal advice.