Indiana Code 23-19-7-7. Award to informant for original information leading to successful enforcement action; commissioner to determine amount; award to be paid from fund; limit on aggregate amount of awards
(1) an informant:
Terms Used In Indiana Code 23-19-7-7
- commissioner: refers to the securities commissioner appointed by the secretary of state under IC 23-19-6-1(a). See Indiana Code 23-19-7-1
- division: refers to the securities division of the office of the secretary of state. See Indiana Code 23-19-7-2
- fund: refers to the securities restitution fund established by IC 23-20-1-25. See Indiana Code 23-19-7-3
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- informant: means an individual who provides original information concerning a violation of this article to the division. See Indiana Code 23-19-7-4
- original information: means information that:
Indiana Code 23-19-7-6
(B) includes, as part of the writing provided under clause (A), a signed statement indicating that the informant reasonably believes that the act or omission disclosed through the original information provided constitutes a violation of this article; and
(2) the original information provided by the informant leads to the successful enforcement of a judicial or an administrative action under this article;
the commissioner may award an amount, to be determined by the commissioner and paid from the fund, to the informant for the original information provided.
(b) The commissioner may provide an award to one (1) or more informants in any single judicial or administrative proceeding under this article. However, the aggregate amount of the awards in any single judicial or administrative proceeding may not exceed ten percent (10%) of the total monetary sanctions imposed or ordered in the action.
As added by P.L.85-2012, SEC.6.