750 Ind. Admin. Code 9-5-10

Current through October 31, 2024

Section 750 IAC 9-5-10 - Deceptive acts

Authority: IC 24-4.4-1-101

Affected: IC 24-4.4; IC 24-4.5

Sec. 10.

(a) As used in this section, "deceptive act" means an act or a practice in which a person knowingly or intentionally:

(1) makes a material misrepresentation concerning; or

(2) conceals material information regarding the terms or conditions of; a mortgage transaction.

(b) For purposes of this section, "knowingly" means having actual knowledge at the time of the transaction.

(c) The department may bring a civil action to enjoin a deceptive act performed in connection with a mortgage transaction.

750 IAC 9-5-10

Department of Financial Institutions; 750 IAC 9-5-10; emergency rule filed Jul 23, 2009, 4:14 p.m.: 20090729-IR-750090577ERA

Readopted filed 12/1/2015, 9:28 a.m.: 20151230-IR-750150336RFA

Readopted filed 11/3/2021, 10:48 a.m.: 20211201-IR-750210427RFA