Effective 1-1-2026.
Sec. 504. (a) An individual in control of a licensee or an applicant, an individual who seeks to acquire control of a licensee, and each key individual with respect to a licensee or an applicant shall furnish to the department through the NMLSR the following items:
(1) The individual's fingerprints for submission to the Federal Bureau of Investigation and the department for purposes of a national criminal history background check.
(2) Personal history and experience, in a form and by a medium prescribed by the director, including the following:
(A) An independent credit report from a consumer reporting agency unless the individual does not have a Social Security number, in which case a credit report is not required.
(B) Information related to any criminal convictions with respect to, or pending charges against, the individual.
(C) Information related to any:
(i) regulatory or administrative action; or
(ii) civil litigation;
involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breach of fiduciary duty, or breach of contract.
(b) The director may:
(1) waive one (1) or more requirements set forth in subsection (a); or
(2) permit an applicant to submit other information instead of meeting one (1) or more of the requirements set forth in subsection (a).