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BankersOnline.com Forums State-Specific Compliance Issues Indiana Financial Statement needed ?
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#1994181 - 02/06/15 05:27 PM Financial Statement needed ?
DRHTPB Offline
Member
Joined: Jan 2011
Posts: 73

Does anyone know if the rule for needing a financial statement for unsecured money of $5000.00 or more still stands ? I am unable to find it on Indiana website. Thanks !

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#1994270 - 02/06/15 07:48 PM Re: Financial Statement needed ? DRHTPB
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
That requirement was repealed about 20-25 years ago.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1995526 - 02/12/15 01:34 PM Re: Financial Statement needed ? DRHTPB
DRHTPB Offline
Member
Joined: Jan 2011
Posts: 73

Dan, Thank You for the information. I am literally laughing out loud that we assumed this was still in place.

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#1996112 - 02/13/15 08:53 PM Re: Financial Statement needed ? DRHTPB
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
I don't remember the exact dates but the law was amended to increase the $5000 to $15,000 and just a short time after that they repealed the law all together. I believe the repeal was sometime between 1993 and 1995 but I've slept some since then. smile
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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