Sec. 124. (a) The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer under section 122(c)(3) of this chapter:

(1) The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.

(2) The gravity of the practice, violation, or breach.

(3) The history of previous practices, violations, or breaches.

(4) The economic benefit derived by the individual from the practice, violation, or breach.

(5) Other factors that justice requires.

     (b) A creditor may not indemnify a director or an officer for a civil penalty imposed against the director or officer under this section.

     (c) Civil penalties shall be deposited in the financial institutions fund established by IC 28-11-2-9.

As added by P.L.35-2010, SEC.78.