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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

Known as the Money Transmission Modernization Act

The act spans §§ 28-8-4.1-1001 to 28-8-4.1-903 (53 sections).

As added by P.L.198-2023, SEC.4.

Sec. 405. (a) In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.

(b) In the event of any inconsistencies between this chapter and a federal law that governs under subsection (a), the director may provide interpretive guidance that:

(1) identifies the inconsistency; and

(2) identifies the appropriate means of compliance with federal law.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.