Indiana Code 23-19-4.1-8. Immunity for broker-dealers, investment advisers, and qualified individuals; authority of commissioner to access books and records not impeded
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Terms Used In Indiana Code 23-19-4.1-8
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Indiana Code 23-19-1-2
- Commissioner: means the securities commissioner appointed under IC 23-19-6-1(a). See Indiana Code 23-19-1-2
- Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Indiana Code 23-19-1-2
- qualified individual: means an individual associated with a broker-dealer or investment adviser who serves in a supervisory, compliance, or legal capacity as part of the individual's job. See Indiana Code 23-19-4.1-5
Sec. 8. Notwithstanding any other provision of law, a broker-dealer, investment adviser, or a qualified individual who, in good faith, complies with section 6 or 7 of this chapter, is immune from any administrative or civil liability for actions taken in accordance with those sections. A broker-dealer, investment adviser, or qualified individual who, in good faith, releases or does not release copies of records under section 9 of this chapter is immune from any civil liability for release of such records or failing to release such records. This chapter does not limit or otherwise impede the authority of the commissioner to access or examine books and records of broker-dealers or investment advisers as otherwise provided by law.
As added by P.L.39-2016, SEC.1. Amended by P.L.158-2017, SEC.11.