Sec. 9. (a) A civil penalty imposed on a director or an officer under section 7 of this chapter may not exceed one thousand dollars ($1,000) per day for each practice, violation, or act found to exist in the final order.

     (b) In determining the amount of a civil penalty assessed under section 7 of this chapter, the following factors shall be considered:

(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 act.

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

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

(5) Other factors that justice requires.

     (c) A financial institution may not indemnify a director or an officer for a civil penalty imposed under section 7 of this chapter.

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

As added by P.L.33-1991, SEC.56. Amended by P.L.89-2011, SEC.71.