Section 28-14-7-3 - Violations; penalties(a) A corporate fiduciary that: (1) fails to prepare and submit a statement of condition required by the department under section 2 of this chapter; or(2) violates any order of the department with respect to a statement of condition required by the department under section 2 of this chapter; is subject to a civil penalty of one hundred dollars ($100) for each day that elapses after the date fixed by the department for compliance with the notice concerning the statement of condition.
(b) A penalty paid under subsection (a) must be deposited in the financial institutions fund established by IC 28-11-2-9.As added by P.L. 262-1995, SEC.90.