Ind. Code § 37-2-7-12 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-12
Injunctions against unconscionable agreements and fraudulent or unconscionable conduct
Status: in_force

Sec. 12. (a) The department may bring a civil action to restrain a creditor or a person acting in behalf of a creditor from engaging in a course of:

(1) making or enforcing unconscionable terms or provisions of consumer credit sales, consumer leases, or consumer loans;

(2) fraudulent or unconscionable conduct in inducing debtors to enter into consumer credit sales, consumer leases, or consumer loans; or

(3) fraudulent or unconscionable conduct in the collection of debts arising from consumer credit sales, consumer leases, or consumer loans.

(b) In an action brought pursuant to this section the court may grant relief only if it finds:

(1) that the respondent has made unconscionable agreements or has engaged or is likely to engage in a course of fraudulent or unconscionable conduct;

(2) that the agreements or conduct of the respondent has caused or is likely to cause injury to consumers; and

(3) that the respondent has been able to cause or will be able to cause the injury primarily because the transactions involved are credit transactions.

(c) In applying this section, consideration shall be given to each of the following factors, among others:

(1) belief by the creditor at the time consumer credit sales, consumer leases, or consumer loans are made that there was no reasonable probability of payment in full of the obligation by the debtor;

(2) in the case of consumer credit sales or consumer leases, knowledge by the seller or lessor at the time of the sale or lease of the inability of the buyer or lessee to receive substantial benefits from the property or services sold or leased;

(3) in the case of consumer credit sales or consumer leases, gross disparity between the price of the property or services sold or leased and the value of the property or services measured by the price at which similar property or services are readily obtainable in credit transactions by like buyers or lessees;

(4) the fact that the creditor contracted for or received separate charges for insurance with respect to consumer credit sales or consumer loans with the effect of making the sales or loans, considered as a whole, unconscionable; and

(5) the fact that the respondent has knowingly taken advantage of the inability of the debtor reasonably to protect the debtor's interests by reason of physical or mental infirmities, ignorance, illiteracy or inability to understand the language of the agreement, or similar factors.

(d) In an action brought pursuant to this section, a charge or practice expressly permitted by this article is not in itself unconscionable.

[Pre-2026 Revision Citation: 24-4.5-6-111.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-37 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-37
Restrictions on interest in land as security
Status: in_force

Sec. 37. (a) With respect to a supervised loan in which the principal is four thousand dollars ($4,000) or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.

(b) The amount of four thousand dollars ($4,000) in subsection (a) is subject to change pursuant to the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 2012.

[Pre-2026 Revision Citation: 24-4.5-3-510.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-1-2 — Indiana Code / Title 37 / Article 3 / Chapter 1 / Section 37-3-1-2
Applicability
Status: in_force

Sec. 2. This article applies to:

(1) a lender;

(2) a bank, savings association, credit union, or other state or federally regulated financial institution except those that are specifically exempt regarding limitations on interest rates and fees; or

(3) a person, if the department determines that a transaction is:

(A) in substance a disguised loan; or

(B) the application of subterfuge for the purpose of avoiding this chapter.

[Pre-2026 Revision Citation: 24-4.5-7-102(5).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-12 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-12
"Consumer credit sale"
Status: in_force

Sec. 12. "Consumer credit sale" is a sale of goods, services, or an interest in land in which:

(1) credit is granted by a person who regularly engages as a seller in credit transactions of the same kind;

(2) the buyer is a person other than an organization;

(3) the goods, services, or interest in land are purchased primarily for a personal, family, or household purpose;

(4) either the debt is payable in installments or a credit service charge is made; and

(5) with respect to a sale of goods or services, either:

(A) the amount of credit extended, the written credit limit, or the initial advance does not exceed the exempt threshold amount, as adjusted in accordance with the annual adjustment of the exempt threshold amount, specified in Regulation Z (12 CFR 226.3 or 12 CFR 1026.3(b), as applicable); or

(B) the debt is secured by personal property used or expected to be used as the principal dwelling of the buyer.

Unless the sale is made subject to this article by agreement under IC 37-2-3-29, "consumer credit sale" does not include a sale in which the seller allows the buyer to purchase goods or services pursuant to a lender credit card or similar arrangement or, except as provided with respect to disclosure (IC 37-2-3-13), debtors' remedies (IC 37-2-6-8), providing payoff amounts (IC 37-2-3-11), and powers and functions of the department (IC 37-2-7), a sale of an interest in land which is a first lien mortgage transaction.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(8).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-37 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-37
"Residential real estate"
Status: in_force

Sec. 37. "Residential real estate" means any real property that is located in Indiana and on which there is located or intended to be constructed a dwelling.

[Pre-2026 Revision Citation: 24-4.4-1-301(32).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-6 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-6
Powers of director
Status: in_force

Sec. 6. To carry out the purposes of this chapter, the director may:

(1) retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators to conduct or assist in the conduct of examinations or investigations;

(2) enter into agreements or relationships with other government officials or regulatory associations to improve efficiencies and reduce regulatory burden by sharing:

(A) resources;

(B) standardized or uniform methods or procedures; and

(C) documents, records, information, or evidence obtained under this section;

(3) use, hire, contract, or employ public or privately available analytical systems, methods, or software to examine or investigate a licensee, an individual, or a person subject to this article;

(4) accept and rely on examination or investigation reports made by other government officials, in or outside Indiana;

(5) accept audit reports made by an independent certified public accountant for the licensee, individual, or person subject to this article in the course of that part of the examination covering the same general subject matter as the audit and may incorporate the audit report in the report of the examination, report of investigation, or other writing of the director; and

(6) use, hire, contract, or employ public or privately available analytical systems, methods, software, or technology solutions to enable the department to capture and examine transaction level activity to:

(A) verify and oversee compliance with; and

(B) enforce;

all state law concerning a small loan regulated under IC 37-3.

[Pre-2026 Revision Citation: 24-4.5-6-106.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-13 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-13
"Consumer loan"
Status: in_force

Sec. 13. "Consumer loan" means a loan made by a person regularly engaged in the business of making loans in which:

(1) the debtor is a person other than an organization;

(2) the debt is primarily for a personal, family, or household purpose;

(3) either the debt is payable in installments or a loan finance charge is made; and

(4) either:

(A) the amount of credit extended, the written credit limit, or the initial advance does not exceed the exempt threshold amount, as adjusted in accordance with the annual adjustment of the exempt threshold amount, specified in Regulation Z (12 CFR 226.3 or 12 CFR 1026.3(b), as applicable); or

(B) the debt is secured by an interest in land or by personal property used or expected to be used as the principal dwelling of the debtor.

Except as described in IC 37-2-4-2, the term does not include a first lien mortgage transaction.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(9).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-5-3 — Indiana Code / Title 37 / Article 4 / Chapter 5 / Section 37-4-5-3
Attorney's fees; treble damages
Status: in_force

Sec. 3. (a) A court may award attorney's fees under section 2(b) of this chapter.

(b) If the court finds that a person willfully or knowingly violated this article, the court may award damages equal to three (3) times the amount of actual damages.

[Pre-2026 Revision Citation: 24-5.5-6-3.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-9 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-9
Carrying on other business
Status: in_force

Sec. 9. (a) This section does not apply to a business that is licensed by the department for a purpose other than consumer loans.

(b) A licensee may carry on other business at a location where the licensee makes small loans unless the licensee carries on other business for the purpose of evasion or violation of this article.

[Pre-2026 Revision Citation: 24-4.5-7-405.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-12 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-12
Refunds and penalties as set-off to obligation
Status: in_force

Sec. 12. Refunds or penalties to which the debtor is entitled pursuant to sections 8 through 11 of this chapter may be set off against the debtor's obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by sections 8 through 11 of this chapter.

[Pre-2026 Revision Citation: 24-4.5-5-205.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-8 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-8
"Civil court"
Status: in_force

Sec. 8. "Civil court" means any court in Indiana having jurisdiction of civil cases.

[Pre-2026 Revision Citation: 24-4.4-3-115.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-17 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-17
Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund
Status: in_force

Sec. 17. (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 in a final order issued under section 15(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 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.

(b) A creditor may not indemnify a director or an officer for a civil penalty imposed in a final order under section 15(c)(3) of this chapter.

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

[Pre-2026 Revision Citation: 24-4.4-2-404.6.]

As added by P.L.115-2026, SEC.97.