Sec. 41. (a) Any person aggrieved by a final order of the commissioner may obtain a review of the order in a circuit or superior court of Marion County by filing in court, not later than sixty (60) days after the entry of the order, a written petition requesting the order to be modified or set aside in whole or in part. A copy of a petition for review shall be served on the commissioner.

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Terms Used In Indiana Code 23-2-6-41

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • commissioner: refers to the securities commissioner appointed under IC 23-19-6-1(a). See Indiana Code 23-2-6-2
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • person: means an individual, a corporation, a partnership, a limited liability company, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Indiana Code 23-2-6-14
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
     (b) Except where the taking of additional evidence is ordered by a court under subsections (e) and (f), after the filing of a petition for review:

(1) the court shall have exclusive jurisdiction of the matter; and

(2) the commissioner may not modify or set aside the order, in whole or in part.

     (c) Unless specifically ordered by the court:

(1) the filing of a petition for review under subsection (a) does not operate as a stay of the commissioner’s order; and

(2) the commissioner may enforce or ask the court to enforce an order pending the outcome of the review proceedings.

     (d) Upon receipt of a petition for review, the commissioner shall certify and file in the court a copy of the order and the transcript or record of the evidence upon which the order was based. If the order became final by operation of law under section 40(a) of this chapter, the commissioner shall certify and file in court:

(1) a certified copy of the summary order;

(2) evidence of service of the summary order on the parties to the order; and

(3) an affidavit certifying that:

(A) a hearing on the summary order has not been held; and

(B) the summary order became final under section 40(a) of this chapter.

     (e) The court may order additional evidence to be taken by the commissioner under conditions the court considers proper if an aggrieved party or the commissioner:

(1) applies to the court for leave to enter additional evidence; and

(2) shows to the satisfaction of the court that:

(A) there were reasonable grounds for failure to enter the evidence in the hearing before the commissioner; or

(B) good cause exists to allow the additional evidence to be taken.

     (f) If the court orders new evidence to be taken, the commissioner:

(1) may modify the findings and order by reason of the additional evidence; and

(2) shall file in the court the additional evidence and any modified or new findings or order.

     (g) The court shall review the petition based on the original record before the commissioner and any additions or modifications under subsections (e) and (f). The commissioner’s findings of facts are conclusive if those findings are supported by competent, material, and substantive evidence. Based on review under this subsection, the court may affirm, modify, enforce, or set aside the order, in whole or in part.

As added by P.L.177-1991, SEC.10.

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