Section 23-2.5-8-10 - Prospective borrower funds; requirements If a licensee or a person required to be licensed under this article possesses funds that belong to another person, including money received by or on behalf of a prospective borrower, the licensee or person required to be licensed shall:
(1) upon request of the prospective borrower, account for the funds possessed for the prospective borrower;(2) follow reasonable and lawful instructions from the prospective borrower concerning the prospective borrower's funds; and(3) return the prospective borrower's unspent funds to the prospective borrower in a timely manner.Added by P.L. 175-2019,SEC. 2, eff. 7/1/2019.