Section 750IAC9-5-10. Deceptive acts

Latest version.

   (a) As used in this section, "deceptive act" means an act or a practice in which a person knowingly or intentionally:

(1) makes a material misrepresentation concerning; or

(2) conceals material information regarding the terms or conditions of;

a mortgage transaction.

  (b) For purposes of this section, "knowingly" means having actual knowledge at the time of the transaction.

  (c) The department may bring a civil action to enjoin a deceptive act performed in connection with a mortgage transaction. (Department of Financial Institutions; 750 IAC 9-5-10; emergency rule filed Jul 23, 2009, 4:14 p.m.: 20090729-IR-750090577ERA; readopted filed Dec 1, 2015, 9:28 a.m.: 20151230-IR-750150336RFA)

                    
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