IC 35-43-9
    Chapter 9. Conversion or Misappropriation of Title InsuranceEscrow Funds

IC 35-43-9-1
"Party" defined
    Sec. 1. As used in this chapter, "party" means an individual whois:
        (1) buying;
        (2) selling; or
        (3) refinancing;
a dwelling in a residential real property transaction.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-2
"Person" defined
    Sec. 2. As used in this chapter, "person" means an individual, acorporation, a limited liability company, a partnership, a firm, anassociation, or another organization.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-3
"Residential real property transaction" defined
    Sec. 3. As used in this chapter, "residential real propertytransaction" means the purchase, sale, or refinancing of a dwellingthat has been or will be the residence of a party in the purchase, sale,or refinancing.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-4
"Title insurance agent" defined
    Sec. 4. As used in this chapter, "title insurance agent" means aperson who holds a limited lines producer's license issued underIC 27-1-15.6-18(4) and disburses funds from a title insurance escrowaccount to a party in connection with a residential real propertytransaction.
As added by P.L.300-1995, SEC.2. Amended by P.L.132-2001,SEC.25; P.L.178-2003, SEC.97.

IC 35-43-9-5
"Title insurance escrow account" defined
    Sec. 5. As used in this chapter, "title insurance escrow account"means an account in which written instruments, money, or otheritems are deposited and held in escrow or trust for disbursement toa party in connection with a residential real property transactionupon the performance of a specified condition or the happening of acertain event.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-6 "Title insurer" defined
    Sec. 6. As used in this chapter, "title insurer" means a personholding a valid certificate of authority issued under IC 27-7-3-6.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-7
Violations
    Sec. 7. (a) An officer, a director, or an employee of a title insurer,an individual associated with the title insurer as an independentcontractor, or a title insurance agent who knowingly or intentionally:
        (1) converts or misappropriates money received or held in a titleinsurance escrow account; or
        (2) receives or conspires to receive money described insubdivision (1);
commits a Class D felony, except as provided in subsection (b).
    (b) The offense is:
        (1) a Class C felony if the amount of money:
            (A) converted, misappropriated, or received; or
            (B) for which there is a conspiracy;
        is more than ten thousand dollars ($10,000) but less than onehundred thousand dollars ($100,000); and
        (2) a Class B felony if the amount of money:
            (A) converted, misappropriated, or received; or
            (B) for which there is a conspiracy;
        is at least one hundred thousand dollars ($100,000).
As added by P.L.300-1995, SEC.2.

IC 35-43-9-8
Notice of conviction
    Sec. 8. The court shall direct the clerk of court to notify theIndiana department of insurance about a conviction of an offenseunder section 7 of this chapter.
As added by P.L.300-1995, SEC.2.

IC 35-43-9-9
Restitution
    Sec. 9. In addition to any sentence or fine imposed for aconviction of an offense in section 7 of this chapter, the court shallorder the person convicted to make restitution to the victim of thecrime pursuant to IC 35-50-5-3.
As added by P.L.300-1995, SEC.2.