Ind. Code § 37-2-3-5 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-5
Permitted additional charges; skip-a-payment services; expedited payment services; GAP agreements
Status: in_force

Sec. 5. (a) In addition to the credit service charge permitted by this chapter, a seller may contract for and receive any of the following additional charges in connection with a consumer credit sale:

(1) Official fees and taxes.

(2) Charges for insurance as described in subsection (b).

(3) Notwithstanding provisions of the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.) concerning disclosure, charges for other benefits, including insurance, conferred on the consumer, if the benefits are of value to the consumer and if the charges are reasonable in relation to the benefits, and are excluded as permissible additional charges from the credit service charge. With respect to any additional charge not specifically provided for in this section, to be a permitted charge under this subsection the seller must submit a written explanation of the charge to the department indicating how the charge would be assessed and the value or benefit to the consumer. Supporting documents may be required by the department. The department shall determine whether the charge would be of benefit to the consumer and is reasonable in relation to the benefits.

(4) A charge not to exceed twenty-five dollars ($25) for each returned payment by a bank or other depository institution of a dishonored check, electronic funds transfer, negotiable order of withdrawal, or share draft issued by the consumer.

(5) Annual participation fees assessed in connection with a revolving charge account. Annual participation fees must:

(A) be reasonable in amount;

(B) bear a reasonable relationship to the seller's costs to maintain and monitor the charge account; and

(C) not be assessed for the purpose of circumvention or evasion of this article, as determined by the department.

(6) A charge not to exceed twenty-five dollars ($25) for a skip-a-payment service, subject to the following:

(A) At the time of use of the service, the consumer must be given written notice of the amount of the charge and must acknowledge the amount in writing, including by electronic signature.

(B) A charge for a skip-a-payment service may not be assessed with respect to a consumer credit sale subject to the provisions on rebate upon prepayment that are set forth in section 12 of this chapter.

(C) A charge for a skip-a-payment service may not be assessed with respect to any payment for which a delinquency charge has been assessed under section 6 of this chapter.

(7) A charge not to exceed ten dollars ($10) for an optional expedited payment service, subject to the following:

(A) The charge may be assessed only upon request by the consumer to use the expedited payment service.

(B) The amount of the charge must be disclosed to the consumer at the time of the consumer's request to use the expedited payment service.

(C) The consumer must be informed that the consumer retains the option to make a payment by traditional means.

(D) The charge may not be established in advance, through any agreement with the consumer, as the expected method of payment.

(E) The charge may not be assessed with respect to any payment for which a delinquency charge has been assessed under section 6 of this chapter.

(8) A charge for a GAP agreement, subject to subsection (d).

(b) An additional charge may be made for insurance written in connection with the sale, other than insurance protecting the seller against the consumer's default or other credit loss:

(1) with respect to insurance against loss of or damage to property, or against liability, if the seller furnishes a clear and specific statement in writing to the consumer, setting forth the cost of the insurance if obtained from or through the seller and stating that the consumer may choose the person, subject to the seller's reasonable approval, through whom the insurance is to be obtained; and

(2) with respect to consumer credit insurance providing life, accident, unemployment or other loss of income, or health coverage, if the insurance coverage is not a factor in the approval by the seller of the extension of credit and is clearly disclosed in writing to the consumer, and if, in order to obtain the insurance in connection with the extension of credit, the consumer gives specific, affirmative, written indication of the desire to do so after written disclosure of the cost.

(c) With respect to a subordinate lien mortgage transaction, the following closing costs, if the costs are bona fide, reasonable in amount, and not for the purpose of circumvention or evasion of this article:

(1) fees for title examination, abstract of title, title insurance, property surveys, or similar purposes;

(2) fees for preparing deeds, mortgages, and reconveyance, settlement, and similar documents;

(3) notary and credit report fees;

(4) amounts required to be paid into escrow or trustee accounts if the amounts would not otherwise be included in the credit service charge; and

(5) appraisal fees.

(d) An additional charge may be made for a GAP agreement, subject to the following:

(1) A GAP agreement or GAP coverage may not be required by the seller, and that fact must be disclosed in writing to the consumer.

(2) The charge for the initial term of coverage under the GAP agreement must be disclosed in writing to the consumer. The charge may be disclosed on a unit-cost basis only in the case of the following transactions:

(A) Revolving charge accounts.

(B) Closed-end credit transactions, if the request for coverage is made by mail or telephone.

(C) Closed-end credit transactions, if the GAP agreement limits the total amount of indebtedness eligible for coverage.

(3) If the term of coverage under the GAP agreement is less than the term of the consumer credit sale, the term of coverage under the GAP agreement must be disclosed in writing to the consumer.

(4) The consumer must sign or initial an affirmative written request for coverage after receiving all required disclosures.

(5) The GAP agreement must include the following:

(A) In the case of GAP coverage for a new motor vehicle, the manufacturer's suggested retail price (MSRP) for the motor vehicle.

(B) In the case of GAP coverage for a used motor vehicle, the average retail value for the motor vehicle, as determined by use of a third party valuation service provider that is customarily relied upon in the used motor vehicle commercial marketplace.

(C) The name of the financing entity taking assignment of the agreement.

(D) The name and address of the consumer.

(E) The name of the creditor selling the agreement.

(F) Information advising the consumer that the consumer may be able to obtain similar coverage from the consumer's primary insurance carrier.

(G) A coverage provision that includes a minimum deductible of five hundred dollars ($500).

(H) A provision providing for a minimum thirty (30) day free-look period.

(I) In the case of a consumer credit sale involving a motor vehicle, a provision excluding the sale of GAP coverage if the amount financed under the consumer credit sale (not including the cost of the GAP agreement, the cost of any credit insurance, and the cost of any warranties or service agreements) is less than eighty percent (80%) of the manufacturer's suggested retail price (MSRP), in the case of a new motor vehicle, or the average retail value (as determined by use of a third party valuation service provider that is customarily relied upon in the used motor vehicle commercial marketplace), in the case of a used motor vehicle.

(J) In the case of a GAP agreement in which the charge for the agreement exceeds four hundred dollars ($400), specific instructions that may be used by the consumer to cancel the agreement and obtain a refund of the unearned GAP charge before prepayment in full, in accordance with the procedures, and subject to the conditions, set forth in subdivision (6).

(6) If the charge for the GAP agreement exceeds four hundred dollars ($400), the consumer is entitled to cancel the agreement and obtain a refund of the unearned GAP charge before prepayment in full. Refunds of unearned GAP charges shall be made subject to the following conditions:

(A) A refund of the charge for a GAP agreement must be calculated using a method that is no less favorable to the consumer than a refund calculated on a pro rata basis.

(B) The consumer is entitled to a refund of the unearned GAP agreement charge as outlined in the GAP agreement.

(C) The seller of the GAP agreement is responsible for making a timely refund to the consumer of unearned GAP agreement charges under the terms and conditions of the GAP agreement.

(7) Upon prepayment in full of the consumer credit sale:

(A) the GAP coverage is automatically terminated; and

(B) the seller of the GAP agreement must issue a refund in accordance with subdivision (6).

(8) A creditor that sells GAP agreements must:

(A) insure its GAP agreement obligations under a contractual liability insurance policy issued by an insurer authorized to engage in the insurance business in Indiana; and

(B) retain appropriate records, as required under this article, regarding GAP agreements sold, refunded, and expired.

[Pre-2026 Revision Citation: 24-4.5-2-202.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-14 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-14
Disclosure violations
Status: in_force

Sec. 14. A person commits a Class A misdemeanor if the person knowingly gives false or inaccurate information or fails to provide information which the person is required to disclose under the provisions of IC 37-2-3-13 or IC 37-2-4-14.

[Pre-2026 Revision Citation: 24-4.5-5-302.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-14 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-14
"Trigger rate"
Status: in_force

Sec. 14. "Trigger rate" means:

(1) for fixed rate home loans in which the interest rate will not vary during the term of the loan, the rate as of the date of closing;

(2) for home loans in which the interest varies according to an index, the sum of the index rate as of the date of closing plus the maximum margin permitted at any time under the loan agreement; or

(3) for all other home loans in which the rate may vary at any time during the term of the loan, the maximum rate that may be charged during the term of the home loan.

[Pre-2026 Revision Citation: 24-9-2-14.]

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

Sec. 1. (a) This chapter applies to consumer credit sales, including home solicitation sales, and consumer leases.

(b) Sections 14 through 27 of this chapter apply to consumer credit sales and consumer leases.

(c) Sections 29 through 33 of this chapter apply to consumer related sales.

(d) Licensing under IC 37-2-4-24 applies to consumer credit sales that are subordinate lien mortgage transactions.

[Pre-2026 Revision Citations: 24-4.5-2-102; 24-4.5-2-401.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-44.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-44.5
"Residential real estate"
Status: in_force

Sec. 44.5. "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: 24-4.5-1-301.5(40).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-14 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-14
Disclosures prohibited by Consumer Credit Protection Act; exempt transactions
Status: in_force

Sec. 14. (a) For the purposes of this section, "consumer loan" includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan.

(b) The lender shall disclose to the debtor to whom credit is extended with respect to a consumer loan the information required by the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).

(c) For purposes of subsection (b), disclosures shall not be required on a consumer loan if the transaction is exempt from the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).

[Pre-2026 Revision Citation: 24-4.5-3-301.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-8 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-8
Repayment ability; commercially reasonable practices to determine debt to income ratio
Status: in_force

Sec. 8. (a) A creditor may not make a high cost home loan without regard to repayment ability.

(b) If a creditor presents evidence that the creditor followed commercially reasonable practices in determining the borrower's debt to income ratio, there is a rebuttable presumption that the creditor made the high cost home loan with due regard to repayment ability. For purposes of this section, there is a rebuttable presumption that the borrower's statement of income provided to the creditor is true and complete.

(c) Commercially reasonable practices include the use of:

(1) the debt to income ratio:

(A) listed in 38 CFR 36.4337(c)(1); and

(B) defined in 38 CFR 36.4337(d); and

(2) the residual income guidelines established under:

(A) 38 CFR 36.4337(e); and

(B) United States Department of Veterans Affairs form 26-6393.

[Pre-2026 Revision Citation: 24-9-4-8.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-2 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-2
"Consumer loan"; first lien mortgage transaction not included
Status: in_force

Sec. 2. Unless a loan is made subject to this chapter by agreement under section 41 of this chapter, and except with respect to:

(1) disclosure (section 14 of this chapter);

(2) debtors' remedies (IC 37-2-6-8);

(3) providing payoff amounts (section 12 of this chapter);

(4) providing property tax information (section 46 of this chapter);

(5) powers and functions of the department (IC 37-2-7-3);

(6) the department's examination and investigatory authority (IC 37-2-7-5); and

(7) the department's administrative enforcement authority (IC 37-2-7-9);

the term "consumer loan" does not include a first lien mortgage transaction.

[Pre-2026 Revision Citation: 24-4.5-3-105.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-29.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-29.5
"Merchandise certificate"
Status: in_force

Sec. 29.5. "Merchandise certificate" means a writing issued by a seller not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services.

[Pre-2026 Revision Citation: 24-4.5-2-105(2).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-13 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-13
Exemption of finance charges
Status: in_force

Sec. 13. Finance charges made in compliance with this chapter are exempt from IC 37-2-4-35 and IC 35-45-7.

[Pre-2026 Revision Citation: 24-4.5-7-411.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-5
"Average daily balance"
Status: in_force

Sec. 5. "Average daily balance" means the sum of each of the daily balances in a billing cycle divided by the number of days in the billing cycle, and if the billing cycle is a month, the creditor may elect to treat the number of days in each billing cycle as thirty (30).

[Pre-2026 Revision Citation: 24-4.5-1-301.5(4).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-46.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-46.5
"Services"
Status: in_force

Sec. 46.5. "Services" includes:

(1) work, labor, and other personal services;

(2) privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals, cemetery accommodations, and the like; and

(3) insurance provided by a person other than the insurer.

[Pre-2026 Revision Citation: 24-4.5-2-105(3).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-4 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-4
Administrative powers with respect to depository institutions
Status: in_force

Sec. 4. (a) With respect to depository institutions, the powers of examination and investigation (section 5 of this chapter) and administrative enforcement (section 9 of this chapter) shall be exercised by the department. The department may, at its discretion, accept any examination of any financial institution made by a federal authority in lieu of the examination made under the provisions of this article. All other powers of the department under this article may be exercised by the director with respect to a depository institution.

(b) If the department receives a complaint or other information concerning noncompliance with this article by a depository institution, the director shall inform the official or agency having supervisory authority over the organization concerned. The department may request information about depository institutions from the officials or agencies supervising them.

(c) The department and any official or agency of this state having supervisory authority over a depository institution are authorized and directed to consult and assist one another in maintaining compliance with this article. They may jointly pursue investigations, prosecute suits, and take other official action, as they deem appropriate, if either of them otherwise is empowered to take the action.

[Pre-2026 Revision Citation: 24-4.5-6-105.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-13 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-13
Rebate upon prepayment
Status: in_force

Sec. 13. (a) Except for subsections (b) and (i), this section applies only to a loan agreement entered into before July 1, 2020. Except as provided in subsection (b), upon prepayment in full of the unpaid balance of a precomputed consumer loan, refinancing, or consolidation, an amount not less than the unearned portion of the loan finance charge calculated according to this section shall be rebated to the debtor. If the rebate otherwise required is less than one dollar ($1), no rebate need be made.

(b) Upon prepayment in full of a consumer loan, refinancing, or consolidation, other than one under a revolving loan account, if the loan finance charge earned is less than any permitted minimum loan finance charge under section 4(g) or 35(g) of this chapter contracted for, whether or not the consumer loan, refinancing, or consolidation is precomputed, the lender may collect or retain the minimum loan finance charge, as if earned, not exceeding the loan finance charge contracted for.

(c) The unearned portion of the loan finance charge is a fraction of the loan finance charge of which the numerator is the sum of the periodic balances scheduled to follow the computational period in which prepayment occurs, and the denominator is the sum of all periodic balances under either the loan agreement or, if the balance owing resulted from a refinancing under section 8 of this chapter or a consolidation under section 9 of this chapter, under the refinancing agreement or consolidation agreement.

(d) In this section:

(1) "periodic balance" means the amount scheduled to be outstanding on the last day of a computational period before deducting the payment, if any, scheduled to be made on that day;

(2) "computation period" means one (1) month if one-half (1/2) or more of the intervals between scheduled payments under the agreement is one (1) month or more, and otherwise means one (1) week;

(3) the "interval" to the due date of the first scheduled installment or the final scheduled payment date is measured from the date of a loan, refinancing, or consolidation, and includes either the first or last day of the interval; and

(4) if the interval to the due date of the first scheduled installment does not exceed one (1) month by more than fifteen (15) days when the computational period is one (1) month, or eleven (11) days when the computational period is one (1) week, the interval shall be considered as one (1) computational period.

(e) This subsection applies only if the schedule of payments is not regular.

(1) If the computational period is one (1) month and:

(A) if the number of days in the interval to the due date of the first scheduled installment is less than one (1) month by more than five (5) days, or more than one (1) month by more than five (5) but not more than fifteen (15) days, the unearned loan finance charge shall be increased by an adjustment for each day by which the interval is less than one (1) month and, at the option of the lender, may be reduced by an adjustment for each day by which the interval is more than one (1) month; the adjustment for each day shall be one-thirtieth (1/30) of that part of the loan finance charge earned in the computational period prior to the due date of the first scheduled installment assuming that period to be one (1) month; and

(B) if the interval to the final scheduled payment date is a number of computational periods plus an additional number of days less than a full month, the additional number of days shall be considered a computational period only if sixteen (16) days or more. This clause applies whether or not clause (A) applies.

(2) Notwithstanding subdivision (1), if the computational period is one (1) month, the number of days in the interval to the due date of the first installment exceeds one (1) month by not more than fifteen (15) days, and the schedule of payments is otherwise regular, the lender, at the lender's option, may exclude the extra days and the charge for the extra days in computing the unearned loan finance charge; but if the lender does so and a rebate is required before the due date of the first scheduled installment, the lender shall compute the earned charge for each elapsed day as one-thirtieth (1/30) of the amount the earned charge would have been if the first interval had been one (1) month.

(3) If the computational period is one (1) week and:

(A) if the number of days in the interval to the due date of the first scheduled installment is less than five (5) days, or more than nine (9) days, but not more than eleven (11) days, the unearned loan finance charge shall be increased by an adjustment for each day by which the interval is less than seven (7) days and, at the option of the lender, may be reduced by an adjustment for each day by which the interval is more than seven (7) days; the adjustment for each day shall be one-seventh (1/7) of that part of the loan finance charge earned in the computational period prior to the due date of the first scheduled installment, assuming that period to be one (1) week; and

(B) if the interval to the final scheduled payment date is a number of computational periods plus an additional number of days less than a full week, the additional number of days shall be considered a computational period only if five (5) days or more. This clause applies whether or not clause (A) applies.

(f) If a deferral has been agreed to under section 7 of this chapter, the unearned portion of the loan finance charge shall be computed without regard to the deferral. The amount of deferral charge earned at the date of prepayment shall also be calculated. If the deferral charge earned is less than the deferral charge paid, the difference shall be added to the unearned portion of the loan finance charge. If any part of a deferral charge has been earned but has not been paid, that part shall be subtracted from the unearned portion of the loan finance charge or shall be added to the unpaid balance.

(g) This section does not preclude the collection or retention by the lender of delinquency charges under section 6 of this chapter.

(h) If the maturity is accelerated for any reason and judgment is obtained, the debtor is entitled to the same rebate as if payment had been made on the date judgment is entered.

(i) Upon prepayment in full of a consumer loan by the proceeds of consumer credit insurance, the debtor or the debtor's estate shall pay the same loan finance charge or receive the same rebate as though the debtor had prepaid the agreement on the date the proceeds of the insurance are paid to the lender, but no later than ten (10) business days after satisfactory proof of loss is furnished to the lender. This subsection applies whether or not the loan is precomputed.

(j) Upon prepayment in full of a transaction with a term of more than sixty-one (61) months, the unearned loan finance charge shall be computed by applying the disclosed annual percentage rate that would yield the loan finance charge originally contracted for to the unpaid balances of the amount financed for the full computational periods following the prepayment, as originally scheduled or as deferred.

[Pre-2026 Revision Citation: 24-4.5-3-210.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-8 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-8
Prohibited acts
Status: in_force

Sec. 8. It is a violation of this article for a person or individual subject to this article to:

(1) directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person;

(2) engage in any unfair or deceptive practice toward any person;

(3) obtain property by fraud or misrepresentation;

(4) solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this article may earn a fee or commission through "best efforts" to obtain a loan even though no loan is actually obtained for the borrower;

(5) solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting;

(6) conduct any business covered by this article without holding a valid license as required under this article, or assist or aid and abet any person in the conduct of business under this article without a valid license as required under this article;

(7) fail to make disclosures as required by this article and any other applicable state or federal law, including regulations under that law;

(8) fail to comply with this article or rules adopted under this article, or fail to comply with any other state or federal law, rule, or regulation, applicable to any business authorized or conducted under this article;

(9) make, in any manner, any false or deceptive statement or representation, including, with regard to the rates, points, or other financing terms or conditions for a mortgage transaction, or engage in bait and switch advertising;

(10) negligently make any false statement or knowingly and willfully make any omission of material fact in connection with any information or reports filed with a governmental agency or the NMLSR or in connection with any investigation conducted by the director or another governmental agency;

(11) make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a mortgage transaction, or make any payment, threat, or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property;

(12) collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge any fee prohibited by this article;

(13) cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer;

(14) fail to account truthfully for money belonging to a party to a mortgage transaction; or

(15) knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information subject to examination under this article.

[Pre-2026 Revision Citation: 24-4.5-6-107.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-23 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-23
Authority of director to enforce orders, agreements, or conditions in court
Status: in_force

Sec. 23. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction:

(1) An order issued under section 19 or 20 of this chapter.

(2) A written agreement entered into by the director or the department and a director, an officer, or a manager of a creditor.

(3) Any condition imposed in writing by the director or the department on a director, an officer, or a manager of a creditor.

[Pre-2026 Revision Citation: 24-4.5-6-125.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-8 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-8
Charge for insurance connection with a deferral, refinancing, or consolidation; duplicate charges
Status: in_force

Sec. 8. (a) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 37-2-3-7 or IC 37-2-4-7), a refinancing (IC 37-2-3-8 or IC 37-2-4-8), or a consolidation (IC 37-2-3-9 or IC 37-2-4-9), unless:

(1) the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;

(2) the debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which the debtor would have been entitled had there been no deferral, refinancing, or consolidation;

(3) the debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated under section 6 of this chapter; and

(4) the charge does not exceed the amount permitted by section 5 of this chapter.

(b) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.

[Pre-2026 Revision Citation: 24-4.5-4-110.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-46 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-46
"Seller credit card"
Status: in_force

Sec. 46. "Seller credit card" means an arrangement that gives to a buyer or lessee the privilege of using a credit card, letter of credit, or other credit confirmation or identification for the purpose of purchasing or leasing goods or services from that person, a person related to that person, or from that person and any other person. The term includes a card that is issued by a person that is in the name of the seller, and that can be used by the buyer or lessee only for purchases or leases at locations of the named seller.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(41).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-33 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-33
"Nationwide Multistate Licensing System and Registry"; "Nationwide Mortgage Licensing System and Registry"; or "NMLSR"
Status: in_force

Sec. 33. "Nationwide Multistate Licensing System and Registry" (or "Nationwide Mortgage Licensing System and Registry" or "NMLSR") means a multistate licensing system owned and operated by the State Regulatory Registry, LLC, or by any successor or affiliated entity, for the licensing and registration of creditors, mortgage loan originators, and other persons in the mortgage or financial services industries. The term includes any other name or acronym that may be assigned to the system by the State Regulatory Registry, LLC, or by any successor or affiliated entity.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(28).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-10 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-10
Administrative action of commissioner of insurance
Status: in_force

Sec. 10. (a) To the extent that the commissioner's responsibility under this chapter requires, the commissioner of insurance shall issue rules with respect to insurers, and with respect to refunds (section 6 of this chapter), forms, schedules of premium rates and charges (section 13 of this chapter), and the commissioner's approval or disapproval thereof and, in case of violation, may make an order for compliance.

(b) IC 4-21.5-3 applies to and governs all agency action taken by the commissioner of insurance pursuant to this section.

[Pre-2026 Revision Citation: 24-4.5-4-112.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-8 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-8
"High cost home loan"
Status: in_force

Sec. 8. (a) "High cost home loan" means a home loan with:

(1) a trigger rate that exceeds the benchmark rate; or

(2) total points and fees that exceed:

(A) five percent (5%) of the loan principal for a home loan having a loan principal of at least forty thousand dollars ($40,000); or

(B) six percent (6%) of the loan principal for a home loan having a loan principal of less than forty thousand dollars ($40,000).

(b) Beginning July 1, 2006, the dollar amounts set forth in this section are subject to change at the times and according to the procedure set forth in the provisions of IC 37-2-1-5 concerning the adjustment of dollar amounts in IC 37-2.

[Pre-2026 Revision Citation: 24-9-2-8.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-24 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-24
"Loan brokerage business"
Status: in_force

Sec. 24. "Loan brokerage business" means any activity in which a person, in return for any consideration from any source, procures, attempts to procure, or assists in procuring, a mortgage transaction from a third party or any other person, whether or not the person seeking the mortgage transaction actually obtains the mortgage transaction.

[Pre-2026 Revision Citation: 24-4.4-1-301(19).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-2-4 — Indiana Code / Title 37 / Article 4 / Chapter 2 / Section 37-4-2-4
"Foreclosure reconveyance"
Status: in_force

Sec. 4. "Foreclosure reconveyance" means a transaction involving:

(1) the transfer of interest in real property by a homeowner to a person during or incident to a proposed foreclosure proceeding, either by:

(A) transfer of interest from the homeowner to the person; or

(B) creation of a mortgage, trust, or other lien or encumbrance during the foreclosure process;

that allows the person to obtain legal or equitable title to all or part of the real property; and

(2) the subsequent conveyance, or promise of subsequent conveyance, of interest back to the homeowner by the person or the person's agent that allows the homeowner to possess the real property following the completion of the foreclosure proceeding.

[Pre-2026 Revision Citation: 24-5.5-2-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-21 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-21
No assignment of earnings
Status: in_force

Sec. 21. A seller or lessor may not take an assignment of earnings of the buyer or lessee for payment or as security for payment of a claim, whether arising out of a consumer credit sale, consumer lease, or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignees of the earnings and revocable by the buyer or lessee. This section does not prohibit an employee from authorizing deductions from the employee's earnings if the authorization is revocable and is otherwise permitted by law.

[Pre-2026 Revision Citation: 24-4.5-2-410.]

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

Sec. 2. "Affiliate", with respect to any person subject to this article, means a person that, directly or indirectly, through one (1) or more intermediaries:

(1) controls;

(2) is controlled by; or

(3) is under common control with;

the person subject to this article.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-2-7 — Indiana Code / Title 37 / Article 3 / Chapter 2 / Section 37-3-2-7
"Paid in full"
Status: in_force

Sec. 7. "Paid in full" means the termination of a small loan through:

(1) the presentment of the borrower's check for payment by the drawee bank or the exercise by the lender of an authorization to debit an account of the borrower; or

(2) the return of a check to a borrower who redeems it for consideration.

[Pre-2026 Revision Citation: 24-4.5-7-109.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-7 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-7
Deferral charges
Status: in_force

Sec. 7. (a) This section applies only to a consumer loan, refinancing, or consolidation, that is entered into before July 1, 2020. With respect to a precomputed consumer loan, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the lender may make and collect a charge not exceeding the lesser of thirty-six percent (36%) per year or the rate previously stated to the debtor pursuant to section 14 of this chapter applied to the amount or amounts deferred for the period of deferral calculated without regard to difference in the lengths of months, but proportionally for a part of a month, counting each day as one-thirtieth (1/30) of a month. A deferral charge may be collected at the time it is assessed or at any time thereafter.

(b) The lender, in addition to the deferral charge, may make appropriate additional charges under section 5 of this chapter, and the amount of these charges which is not paid in cash may be added to the amount deferred for the purpose of calculating the deferral charge.

(c) The parties may agree in writing at the time of a precomputed consumer loan, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the lender may unilaterally grant a deferral and make charges as provided in this section. No deferral charge may be made for a period after the date that the lender elects to accelerate the maturity of the agreement.

(d) A delinquency charge made by the lender on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.

[Pre-2026 Revision Citation: 24-4.5-3-204.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-1-4 — Indiana Code / Title 37 / Article 3 / Chapter 1 / Section 37-3-1-4
Regularly engages
Status: in_force

Sec. 4. Notwithstanding IC 37-2-2, for purposes of section 1(b) of this chapter, a person "regularly engages" in any of the activities described in section 1(b) of this chapter with respect to a small loan if the person:

(1) performed any of the activities described in section 1(b) of this chapter with respect to a small loan at least one (1) time in the preceding calendar year; or

(2) performs or will perform any of the activities described in section 1(b) of this chapter with respect to a small loan at least one (1) time in the current calendar year if the person did not perform any of the activities described in section 1(b) of this chapter with respect to a small loan at least one (1) time in the preceding calendar year.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-22 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-22
"Guaranteed asset protection agreement"
Status: in_force

Sec. 22. "Guaranteed asset protection agreement", "guaranteed auto protection agreement", or "GAP agreement" means, with respect to a consumer credit sale or a consumer loan involving a motor vehicle or another titled asset, an agreement in which the seller or lender agrees to cancel or waive all or part of the outstanding debt after all property insurance benefits have been exhausted after the occurrence of a specified event.

[Pre-2026 Revision Citation: 24-4.5-3-202(6).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-15.7 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-15.7
"Department"
Status: in_force

Sec. 15.7. "Department" refers to the department of financial institutions.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-22 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-22
Factors for determining amount of civil penalty; indemnification by creditor prohibited; deposit of civil penalties in financial institutions fund
Status: in_force

Sec. 22. (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 20(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.

[Pre-2026 Revision Citation: 24-4.5-6-124.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-7 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-7
"Deceptive act"
Status: in_force

Sec. 7. (a) "Deceptive act" means:

(1) an act or a practice as part of a mortgage transaction (as defined in IC 37-5-3-7(a)), or of a real estate transaction (as defined in IC 37-5-3-7(b)), in which a person at the time of the transaction knowingly or intentionally:

(A) makes a material misrepresentation; or

(B) conceals material information regarding the terms or conditions of the transaction; or

(2) a violation of IC 37-4 concerning mortgage rescue protection fraud as set forth in IC 37-4-5-1.

(b) For purposes of this section, "knowingly" means having actual knowledge at the time of the transaction.

[Pre-2026 Revision Citation: 24-9-2-7.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-1 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-1
Application
Status: in_force

Sec. 1. (a) This chapter applies to consumer loans, including supervised loans.

(b) Sections 15 through 21 of this chapter apply to consumer loans. Except as otherwise provided, all provisions of this article applying to consumer loans apply to supervised loans.

(c) Sections 41 through 44 of this chapter apply to consumer related loans.

(d) Except for the rate of the loan finance charge and the rights to prepay and to rebate upon prepayment, sections 4 through 13 of this chapter apply to a consumer related loan.

(e) The licensing provisions of this chapter apply to consumer credit sales under IC 37-2-3 that are subordinate lien mortgage transactions.

[Pre-2026 Revision Citations: 24-4.5-3-102; 24-4.5-3-513; 24-4.5-3-603.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-11 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-11
Cooperation with securities commissioner; individuals also conducting activities of a loan broker
Status: in_force

Sec. 11. In examinations or other regulatory activities conducted by the department and related to licensees under this article, the department may cooperate with the Indiana securities commissioner in the regulation of individuals who, in addition to conducting business regulated under this article, also conduct a loan broker business subject to IC 23-2.5.

[Pre-2026 Revision Citation: 24-4.5-1-204.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-20 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-20
Change in control of creditor; application to department; timeframe for department's decision; conditions for approval; creditor's duty to report transfer of securities; director's discretion to require new license
Status: in_force

Sec. 20. (a) As used in this section, "control" means possession of the power directly or indirectly to:

(1) direct or cause the direction of the management or policies of a creditor, whether through the beneficial ownership of voting securities, by contract, or otherwise; or

(2) vote at least twenty-five percent (25%) of the voting securities of a creditor, whether the voting rights are derived through the beneficial ownership of voting securities, by contract, or otherwise.

(b) An organization or an individual acting directly, indirectly, or through or in concert with one (1) or more other organizations or individuals may not acquire control of any creditor unless the department has received and approved an application for change in control. The department has not more than one hundred twenty (120) days after receipt of an application to issue a notice approving the proposed change in control. The application must contain the name and address of the organization, individual, or individuals who propose to acquire control and any other information required by the director.

(c) The period for approval under subsection (b) may be extended:

(1) in the discretion of the director for an additional thirty (30) days; and

(2) not more than two (2) additional times for not more than forty-five (45) days each time if:

(A) the director determines that the organization, individual, or individuals who propose to acquire control have not submitted substantial evidence of the qualifications described in subsection (d);

(B) the director determines that any material information submitted is substantially inaccurate; or

(C) the director has been unable to complete the investigation of the organization, individual, or individuals who propose to acquire control because of any delay caused by or the inadequate cooperation of the organization, individual, or individuals.

(d) The department shall issue a notice approving the application only after it is satisfied that both of the following apply:

(1) The organization, individual, or individuals who propose to acquire control are qualified by competence, experience, character, and financial responsibility to control and operate the creditor in a legal and proper manner.

(2) The interests of the owners and creditors of the creditor and the interests of the public generally will not be jeopardized by the proposed change in control.

(e) The director may determine, in the director's discretion, that subsection (b) does not apply to a transaction if the director determines that the direct or beneficial ownership of the creditor will not change as a result of the transaction.

(f) The president or other chief executive officer of a creditor shall report to the director any transfer or sale of securities of the creditor that results in direct or indirect ownership by a holder or an affiliated group of holders of at least ten percent (10%) of the outstanding securities of the creditor. The report required by this subsection must be made not later than ten (10) days after the transfer of the securities on the books of the creditor.

(g) Depending on the circumstances of the transaction, the director may reserve the right to require the organization, individual, or individuals who propose to acquire control of a creditor licensed by the department to engage in mortgage transactions, to apply for a new license under section 4 of this chapter, instead of acquiring control of the licensee under this section.

[Pre-2026 Revision Citation: 24-4.4-2-406.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-6-1 — Indiana Code / Title 37 / Article 5 / Chapter 6 / Section 37-5-6-1
Requirements for servicers of high cost home loans
Status: in_force

Sec. 1. (a) A servicer of a high cost home loan shall report at least once each calendar quarter to a nationally recognized consumer credit reporting agency both the favorable and unfavorable payment history information of the borrower on payments due to the creditor on a high cost home loan.

(b) This section does not prohibit a servicer from agreeing with the borrower not to report specified payment history information in the event of a resolved or an unresolved dispute with a borrower and does not apply to high cost home loans held or serviced by a lender for less than ninety (90) days.

[Pre-2026 Revision Citation: 24-9-6-1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-8 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-8
Persons licensed or authorized on October 1, 1971
Status: in_force

Sec. 8. All persons licensed on October 1, 1971, under:

(1) IC 24-5-4 (before its repeal on October 1, 1971);

(2) IC 28-7-4 (before its repeal on October 1, 1971);

(3) IC 28-7-2 (before its repeal on October 1, 1971); or

(4) IC 28-5-1-4;

are licensed to make supervised loans under this article, subject to the renewal provisions contained in this article. All provisions of this article apply to the persons previously licensed or authorized. The department may deliver evidence of licensing to the persons previously licensed or authorized.

[Pre-2026 Revision Citation: 24-4.5-1-109.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-29 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-29
Sale subject to article by agreement of parties
Status: in_force

Sec. 29. The parties to a sale other than a consumer credit sale may agree in a writing signed by the parties that the sale is subject to the provisions of this article applying to consumer credit sales. If the parties so agree, the sale is a consumer credit sale for the purposes of this article.

[Pre-2026 Revision Citation: 24-4.5-2-601.]

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

Sec. 1. The definitions set forth in this chapter apply throughout this article.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-4 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-4
Credit service charge for consumer credit sales; sales agreements entered into after June 30, 2020; precomputed sales prohibited; nonrefundable prepaid finance charge authorized; revolving charge accounts; subterfuge by seller; applicability of criminal loansharking statute
Status: in_force

Sec. 4. (a) Except as provided in subsections (h) and (k), with respect to a consumer credit sale, a seller may contract for and receive a credit service charge not exceeding that permitted by this section.

(b) The credit service charge, calculated according to the actuarial method, may not exceed the equivalent of the greater of:

(1) the total of:

(A) thirty-six percent (36%) per year on that part of the unpaid balances of the amount financed which is two thousand dollars ($2,000) or less;

(B) twenty-one percent (21%) per year on that part of the unpaid balances of the amount financed which is more than two thousand dollars ($2,000) but does not exceed four thousand dollars ($4,000); and

(C) fifteen percent (15%) per year on that part of the unpaid balances of the amount financed which is more than four thousand dollars ($4,000); or

(2) twenty-five percent (25%) per year on the unpaid balances of the amount financed.

(c) In the case of a sale agreement entered into before July 1, 2020, this section does not limit or restrict the manner of contracting for the credit service charge, whether by way of add-on, discount, or otherwise, so long as the rate of the credit service charge does not exceed that permitted by this section. If the sale is precomputed:

(1) the credit service charge may be calculated on the assumption that all scheduled payments will be made when due; and

(2) the effect of prepayment is governed by the provisions on rebate upon prepayment in section 12 of this chapter.

(d) The following apply to a sale agreement for a consumer credit sale (or for the refinancing or consolidation of a consumer credit sale) that is entered into after June 30, 2020:

(1) The credit service charge authorized by this section must be:

(A) contracted for between the seller and the debtor; and

(B) calculated by applying a rate not exceeding the rate set forth in subsection (b) to unpaid balances of the amount financed.

(2) A sale agreement for a precomputed consumer credit sale is prohibited.

(3) Subject to subsection (m), in addition to the credit service charge authorized by subsection (b) and to any other fees permitted by this chapter, and not subject to the rate set forth in subsection (b), the seller may contract for and receive as a condition for, or an incident to, the extension of credit a nonrefundable prepaid finance charge under subsection (k), whether the charge is:

(A) paid separately in cash or by check before or at consummation; or

(B) withheld from the proceeds of the consumer credit sale.

(e) For the purposes of this section, the term of a sale agreement commences with the date the credit is granted or, if goods are delivered or services performed more than thirty (30) days after that date, with the date of commencement of delivery or performance except as follows:

(1) This subdivision applies to a delay attributable to the customer. Where the customer requests delivery after the thirty (30) day period or where delivery occurs after the thirty (30) day period for a reason attributable to the customer (including but not limited to failure to close on a residence or failure to obtain lease approval), the term of the sale agreement shall commence with the date credit is granted.

(2) This subdivision applies to a partial delivery. Where any portion of the order has been delivered within the thirty (30) day period, the term of the sale agreement shall commence with the date credit is granted.

Differences in the lengths of months are disregarded and a day may be counted as one-thirtieth (1/30) of a month. Subject to classifications and differentiations the seller may reasonably establish, a part of a month in excess of fifteen (15) days may be treated as a full month if periods of fifteen (15) days or less are disregarded and that procedure is not consistently used to obtain a greater yield than would otherwise be permitted.

(f) With respect to a consumer credit sale made pursuant to a revolving charge account, the parties to the sale may contract for the payment by the buyer of a credit service charge not exceeding that permitted in this section, subject to the following:

(1) The credit service charge contracted for and received may not exceed a charge in each monthly billing cycle which is two and eighty-three thousandths percent (2.083%) of an amount not greater than:

(A) the average daily balance of the account;

(B) the unpaid balance of the account on the same day of the billing cycle; or

(C) subject to subsection (g), the median amount within a specified range within which the average daily balance of the account or the unpaid balance of the account, on the same day of the billing cycle, is included.

For purposes of clauses (B) and (C), a variation of not more than four (4) days from month to month is "the same day of the billing cycle".

(2) If the billing cycle is not monthly, the maximum charge is that percentage which bears the same relation to the applicable monthly maximum percentage as the number of days in the billing cycle bears to thirty (30).

(3) Notwithstanding subdivision (1), if there is an unpaid balance on the date as of which the credit service charge is applied, the seller may contract for and receive a charge not exceeding fifty cents ($0.50) if the billing cycle is monthly or longer, or the pro rata part of fifty cents ($0.50) which bears the same relation to fifty cents ($0.50) as the number of days in the billing cycle bears to thirty (30) if the billing cycle is shorter than monthly. However, a seller may not contract for or receive a charge under this subdivision if the seller has made an annual charge for the same period as permitted by the provisions on additional charges in section 5(a)(5) of this chapter.

(g) Subject to classifications and differentiations the seller may reasonably establish, the seller may make the same credit service charge on all amounts financed within a specified range. A credit service charge so made does not violate subsection (b) if:

(1) when applied to the median amount within each range, it does not exceed the maximum permitted by subsection (b); and

(2) when applied to the lowest amount within each range, it does not produce a rate of credit service charge exceeding the rate calculated according to subdivision (1) by more than eight percent (8%) of the rate calculated according to subdivision (1).

(h) Notwithstanding subsection (b), with respect to a consumer sale other than a sale under a revolving charge account, the seller may contract for and receive a minimum credit service charge of not more than thirty dollars ($30). The minimum credit service charge allowed under this subsection may be imposed only if the seller does not contract for or receive a nonrefundable prepaid finance charge under subsection (k) and:

(1) the debtor prepays in full a consumer credit sale, refinancing, or consolidation, regardless of whether the sale, refinancing, or consolidation is precomputed;

(2) the sale, refinancing, or consolidation prepaid by the debtor is subject to a credit service charge that:

(A) is contracted for by the parties; and

(B) does not exceed the rate prescribed in subsection (b); and

(3) the credit service charge earned at the time of prepayment is less than the minimum credit service charge contracted for under this subsection.

(i) The amounts of two thousand dollars ($2,000) and four thousand dollars ($4,000) in subsection (b) are subject to change pursuant to the provisions on adjustment of dollar amounts (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.

(j) The amount of thirty dollars ($30) in subsection (h) is subject to change under the provisions on adjustment of dollar amounts (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 1992.

(k) This subsection applies to a sale agreement entered into after June 30, 2020. Except as provided in subsection (h), and subject to subsection (m), in addition to the credit service charge authorized by subsection (b), and to any other fees permitted by this chapter, a seller may contract for and receive a nonrefundable prepaid finance charge in an amount which is not more than:

(1) seventy-five dollars ($75) for an amount financed which is two thousand dollars ($2,000) or less;

(2) one hundred fifty dollars ($150) for an amount financed which is more than two thousand dollars ($2,000) but does not exceed four thousand dollars ($4,000); and

(3) two hundred dollars ($200) for an amount financed which is more than four thousand dollars ($4,000).

The nonrefundable prepaid finance charge is not subject to refund or rebate. However, any amount charged by the seller, other than by a seller that is a depository institution, under this subsection that exceeds the applicable amount permitted by this subsection constitutes a violation of this article under IC 37-2-7-8(12) and is subject to refund. Any amount charged by a depository institution under this subsection that exceeds the applicable amount set forth in this subsection is subject to refund. The amounts in this subsection are not subject to change under IC 37-2-1-5.

(l) If the director determines that a seller's accrual method of accounting as applied to a consumer credit sale under this section involves the application of subterfuge for the purpose of circumventing this chapter, the director may conform the credit service charge and fees for the transaction to the limitations set forth in this section and may require a refund of overcharges under IC 37-2-7-5(b)(1). A determination by the director under this subsection:

(1) must be in writing;

(2) shall be delivered to all parties in the transaction; and

(3) is subject to IC 4-21.5-3.

(m) At the time of consummation of a consumer credit sale:

(1) the credit service charge authorized by subsection (b); and

(2) the nonrefundable prepaid finance charge authorized by subsection (k) (including any amount charged by a depository institution that exceeds the applicable amount set forth in subsection (k)) in the case of a sale agreement entered into after June 30, 2020;

are subject to IC 35-45-7 and, when combined, may not exceed the rate set forth in IC 35-45-7-2.

[Pre-2026 Revision Citation: 24-4.5-2-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-27 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-27
Creditor's duty to credit payment as of date of receipt; payments not conforming to requirements; creditor's failure to credit payment
Status: in_force

Sec. 27. (a) This section applies to consumer credit sales, including revolving charge accounts.

(b) Except as provided in subsection (c), a creditor shall credit a payment to a consumer's account as of the date of receipt, except when a delay in crediting does not result in a finance charge or other charge, including a delinquency charge under section 6 of this chapter. A delay in posting does not violate this section so long as the payment is credited as of the date of receipt.

(c) If a creditor specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the creditor shall credit the payment within five (5) days of receipt of the payment.

(d) If a creditor fails to credit a payment as required by this section in time to avoid the imposition of a finance or other charge, including a delinquency charge, the creditor shall adjust the consumer's account so that the charges imposed are credited to the consumer's account during the next payment period.

[Pre-2026 Revision Citation: 24-4.5-2-417.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-46.7 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-46.7
"Skip-a-payment service"
Status: in_force

Sec. 46.7. "Skip-a-payment service" means a service that:

(1) in the case of a consumer credit sale:

(A) is offered by a creditor to a consumer; and

(B) permits the consumer to miss or skip a payment due under a consumer credit sale without resulting in default; and

(2) in the case of a consumer loan:

(A) is offered by a lender to a consumer; and

(B) permits the consumer to miss or skip a payment due under a consumer loan without resulting in default.

[Pre-2026 Revision Citation: 24-4.5-3-202(7).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-9 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-9
Loan finance charge on consolidation
Status: in_force

Sec. 9. (a) If a debtor owes an unpaid balance to a lender with respect to a consumer loan, refinancing, or consolidation, and becomes obligated on another consumer loan, refinancing, or consolidation with the same lender, the parties may agree to a consolidation resulting in a single schedule of payments. If the previous consumer loan, refinancing, or consolidation was not precomputed, the parties may agree to add the unpaid amount of principal and accrued charges on the date of consolidation to the principal with respect to the subsequent loan. If the previous consumer loan, refinancing, or consolidation was precomputed, in the case of a transaction entered into before July 1, 2020, the parties may agree to refinance the unpaid balance pursuant to the provisions on refinancing set forth in section 8 of this chapter and to consolidate the principal resulting from the refinancing by adding it to the principal with respect to the subsequent loan. In either case the lender may contract for and receive a loan finance charge based on the aggregate principal resulting from the consolidation at a rate not in excess of that permitted by the provisions on loan finance charge for consumer loans (section 4 of this chapter) or the provisions on loan finance charge for supervised loans (section 35 of this chapter), whichever is appropriate.

(b) The parties may agree to consolidate the unpaid balance of a consumer loan with the unpaid balance of a consumer credit sale. The parties may agree to refinance the previous unpaid balance pursuant to the provisions on refinancing sales set forth in IC 37-2-3-8 or the provisions on refinancing loans set forth in section 8 of this chapter, whichever is appropriate, and to consolidate the amount financed resulting from the refinancing or the principal resulting from the refinancing by adding it to the amount financed or principal with respect to the subsequent sale or loan. The aggregate amount resulting from the consolidation shall be deemed principal, and the creditor may contract for and receive a loan finance charge based on the principal at a rate not in excess of that permitted by the provisions on loan finance charge for consumer loans set forth in section 4 of this chapter or the provisions on loan finance charge for supervised loans set forth in section 35 of this chapter, whichever is appropriate.

[Pre-2026 Revision Citation: 24-4.5-3-206.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-12 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-12
Civil action by department for willful violation; imposition of civil penalty by department; restitution
Status: in_force

Sec. 12. (a) The department may bring a civil action against a creditor or a person acting on behalf of the creditor to recover a civil penalty for willfully violating this article. If the court finds that the defendant has engaged in a course of repeated and willful violations of this article, the court may assess a civil penalty of not more than five thousand dollars ($5,000). A civil penalty may not be imposed under this subsection:

(1) for violations of this article occurring more than two (2) years before the action is brought; or

(2) for making unconscionable agreements or engaging in a course of fraudulent or unconscionable conduct.

(b) If the department determines, after notice and an opportunity to be heard, that a person has violated this article, the department may, in addition to or instead of all other remedies available under this section, impose upon the person a civil penalty not greater than ten thousand dollars ($10,000) per violation.

(c) If the department determines, after notice and opportunity to be heard, that a person has willfully violated this article, the department may, in addition to or instead of all other remedies available under this section, order restitution against the person subject to this article for a violation of this article.

[Pre-2026 Revision Citation: 24-4.4-3-111.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-19 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-19
Cross-collateral
Status: in_force

Sec. 19. (a) As used in this section, "seller" does not include an assignee not related to the original seller.

(b) In addition to contracting for a security interest pursuant to the provisions on security in sales or leases in section 17 of this chapter, a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.

(c) If the seller contracts for a security interest in other property pursuant to this section, the rate of credit service charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation involving a refinancing in section 9(a) of this chapter. The seller has a reasonable time after so contracting to make any adjustments required by this section.

[Pre-2026 Revision Citation: 24-4.5-2-408.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-5 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-5
"Bridge loan"
Status: in_force

Sec. 5. "Bridge loan" means temporary or short term financing with a maturity of less than eighteen (18) months that requires payments of interest only until the entire unpaid balance is due and payable.

[Pre-2026 Revision Citation: 24-9-2-5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-39 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-39
"Tablefunded"
Status: in_force

Sec. 39. "Tablefunded" means a transaction in which:

(1) a person closes a first lien mortgage transaction in the person's own name as a mortgagee with funds provided by one (1) or more other persons; and

(2) the transaction is assigned, not later than one (1) business day after the funding of the transaction, to the mortgage creditor providing the funding.

[Pre-2026 Revision Citation: 24-4.4-1-301(34).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-19 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-19
"Immediate family member"
Status: in_force

Sec. 19. "Immediate family member" means a spouse, child, sibling, parent, grandparent, or grandchild. The term includes stepparents, stepchildren, stepsiblings, and adoptive relationships.

[Pre-2026 Revision Citation: 24-4.4-1-301(15).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-42 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-42
"Real estate brokerage activity"
Status: in_force

Sec. 42. "Real estate brokerage activity" means any activity that involves offering or providing real estate brokerage services to the public, including the following:

(1) Acting as a real estate agent or real estate broker for a buyer, seller, lessor, or lessee of real property.

(2) Bringing together parties interested in the sale, purchase, lease, rental, or exchange of real property.

(3) Negotiating, on behalf of any party, any part of a contract relating to the sale, purchase, lease, rental, or exchange of real property (other than in connection with providing financing with respect to the sale, purchase, lease, rental, or exchange of real property).

(4) Engaging in any activity for which a person is required to be registered or licensed as a real estate agent or real estate broker under any applicable law.

(5) Offering to engage in any activity, or act in any capacity, described in this subsection.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(37).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-11 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-11
Suspension or revocation of license as creditor; order to show cause; order of suspension or revocation; relinquishment of license; preexisting contracts; emergency order for revocation
Status: in_force

Sec. 11. (a) The department may issue to a person licensed as a creditor to engage in first lien mortgage transactions an order to show cause why the person's license should not be revoked or suspended for a period determined by the department.

(b) An order issued under subsection (a) must:

(1) include:

(A) a statement of the place, date, and time for a meeting with the department, which date may not be less than ten (10) days from the date of the order;

(B) a description of the action contemplated by the department; and

(C) a statement of the facts or conduct supporting the issuance of the order; and

(2) be accompanied by a notice stating that the licensee is entitled to:

(A) a reasonable opportunity to be heard; and

(B) show the licensee's compliance with all lawful requirements for retention of the license;

at the meeting described in subdivision (1)(A).

(c) After the meeting described in subsection (b)(1)(A), the department may revoke or suspend the license if the department finds that:

(1) the licensee has repeatedly and willfully violated:

(A) this article or any applicable rule, order, or guidance document adopted or issued by the department; or

(B) any other state or federal law, regulation, or rule applicable to first lien mortgage transactions;

(2) the licensee does not meet the licensing qualifications contained in section 5 of this chapter;

(3) the licensee obtained the license for the benefit of, or on behalf of, another person;

(4) the licensee knowingly or intentionally made material misrepresentations to, or concealed material information from, the department; or

(5) facts or conditions exist that, had they existed at the time the licensee applied for the license, would have been grounds for the department to deny the issuance of the license.

(d) Whenever the department revokes or suspends a license, the department shall enter an order to that effect and notify the licensee of:

(1) the revocation or suspension;

(2) if a suspension has been ordered, the duration of the suspension;

(3) the procedure for appealing the revocation or suspension under IC 4-21.5-3-6; and

(4) any other terms and conditions that apply to the revocation or suspension.

Not later than five (5) days after the entry of the order, the department shall deliver to the licensee a copy of the order and the findings supporting the order.

(e) Any person holding a license as a creditor to engage in first lien mortgage transactions may relinquish the license by notifying the department in writing of the relinquishment. However, a relinquishment under this subsection does not affect the person's liability for acts previously committed and coming within the scope of this article.

(f) If the director determines it to be in the public interest, the director may pursue revocation of a license of a licensee that has relinquished the license under subsection (e).

(g) If a person's license is revoked, suspended, or relinquished, the revocation, suspension, or relinquishment does not impair or affect any obligation owed by any person under any preexisting lawful contract.

(h) If the director has just cause to believe an emergency exists from which it is necessary to protect the interests of the public, the director may proceed with the revocation of a license through an emergency or another temporary order under IC 4-21.5-4.

[Pre-2026 Revision Citation: 24-4.4-2-404.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-4 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-4
Disclosures; informational brochure
Status: in_force

Sec. 4. (a) For purposes of this section, the lender shall disclose to the borrower to whom credit is extended with respect to a small loan the information required by the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).

(b) In addition to the requirements of subsection (a), the lender must conspicuously display in bold type a notice to the public both in the lending area of each business location and in the loan documents the following statement:

"WARNING: A small loan is not intended to meet long term financial needs. A small loan should be used only to meet short term cash needs. The cost of your small loan may be higher than loans offered by other lending institutions. Small loans are regulated by the State of Indiana Department of Financial Institutions.

A borrower may rescind a small loan without cost by paying the cash amount of the principal of the small loan to the lender not later than the end of the business day immediately following the day on which the borrower receives the loan proceeds.".

(c) The statement required in subsection (b) must be in:

(1) 14 point bold face type in the loan documents; and

(2) not less than one (1) inch bold print in the lending area of the business location.

(d) When a borrower enters into a small loan, the lender shall provide the borrower with a pamphlet approved by the department that describes:

(1) the availability of debt management and credit counseling services; and

(2) the borrower's rights and responsibilities in the transaction.

[Pre-2026 Revision Citation: 24-4.5-7-301.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-11 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-11
Term of insurance
Status: in_force

Sec. 11. (a) Consumer credit insurance provided by a creditor may be subject to the furnishing of evidence of insurability satisfactory to the insurer. Whether or not such evidence is required, the term of the insurance shall commence no later than when the debtor becomes obligated to the creditor or when the debtor applies for the insurance, whichever is later, except as follows:

(1) if any required evidence of insurability is not furnished until more than thirty (30) days after the term would otherwise commence, the term may commence on the date when the insurer determines the evidence to be satisfactory; or

(2) if the creditor provides insurance not previously provided covering debts previously created, the term may commence on the effective date of the policy.

(b) The originally scheduled term of the insurance shall extend at least until the due date of the last scheduled payment of the debt except as follows:

(1) if the insurance relates to a revolving charge account or revolving loan account, the term need extend only until the payment of the debt under the account and may be sooner terminated after at least thirty (30) days notice to the debtor; or

(2) if the debtor is advised in writing that the insurance will be written for a specified shorter time, the term need extend only until the end of the specified time.

(c) The term of the insurance shall not extend more than fifteen (15) days after the originally scheduled due date of the last scheduled payment of the debt unless it is extended without additional cost to the debtor or as an incident to a deferral; refinancing, or consolidation.

[Pre-2026 Revision Citation: 24-4.5-4-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-12 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-12
Rebate upon prepayment
Status: in_force

Sec. 12. (a) Except for subsections (b) and (i), this section applies only to a sale agreement entered into before July 1, 2020. Except as provided in subsection (b), upon prepayment in full of the unpaid balance of a precomputed consumer credit sale, refinancing, or consolidation, an amount not less than the unearned portion of the credit service charge calculated according to this section shall be rebated to the buyer. If the rebate required is less than one dollar ($1), no rebate need be made.

(b) Upon prepayment in full of a consumer credit sale, refinancing, or consolidation, other than one pursuant to a revolving charge account, if the credit service charge then earned is less than any permitted minimum credit service charge under section 4(h) of this chapter contracted for, whether or not the sale, refinancing, or consolidation is precomputed, the seller may collect or retain the minimum charge, as if earned, not exceeding the credit service charge contracted for.

(c) The unearned portion of the credit service charge is a fraction of the credit service charge of which the numerator is the sum of the periodic balances scheduled to follow the computational period in which prepayment occurs, and the denominator is the sum of all periodic balances under either the sale agreement or, if the balance owing resulted from a refinancing (section 8 of this chapter) or a consolidation (section 9 of this chapter), under the refinancing agreement or consolidation agreement.

(d) In this section:

(1) "periodic balance" means the amount scheduled to be outstanding on the last day of a computational period before deducting the payment, if any, scheduled to be made on that day;

(2) "computational period" means one (1) month if one-half (1/2) or more of the intervals between scheduled payments under the agreement is one (1) month or more, and otherwise means one (1) week;

(3) the "interval" to the due date of the first scheduled installment or the final scheduled payment date is measured from the date of a sale, refinancing, or consolidation, or any later date prescribed for calculating maximum credit service charges under section 4(e) of this chapter and includes either the first or last day of the interval; and

(4) if the interval to the due date of the first scheduled installment does not exceed one (1) month by more than fifteen (15) days when the computational period is one (1) month, or eleven (11) days when the computational period is one (1) week, the interval shall be considered as one (1) computational period.

(e) This subsection applies only if the schedule of payments is not regular.

(1) If the computational period is one (1) month and:

(A) if the number of days in the interval to the due date of the first scheduled installment is less than one (1) month by more than five (5) days, or more than one (1) month by more than five (5) but not more than fifteen (15) days, the unearned credit service charge shall be increased by an adjustment for each day by which the interval is less than one (1) month and, at the option of the seller, may be reduced by an adjustment for each day by which the interval is more than one (1) month; the adjustment for each day shall be one-thirtieth (1/30) of that part of the credit service charge earned in the computational period prior to the due date of the first scheduled installment assuming that period to be one (1) month; and

(B) if the interval to the final scheduled payment date is a number of computational periods plus an additional number of days less than a full month, the additional number of days shall be considered a computational period only if sixteen (16) days or more. This clause applies whether or not clause (A) applies.

(2) Notwithstanding subdivision (1), if the computational period is one (1) month, the number of days in the interval to the due date of the first installment exceeds one (1) month by not more than fifteen (15) days, and the schedule of payments is otherwise regular, the seller, at the seller's option, may exclude the extra days and the charge for the extra days in computing the unearned credit service charge; but if the seller does so and a rebate is required before the due date of the first scheduled installment, the seller shall compute the earned charge for each elapsed day as one-thirtieth (1/30) of the amount the earned charge would have been if the first interval had been one (1) month.

(3) If the computational period is one (1) week and:

(A) if the number of days in the interval to the due date of this first scheduled installment is less than five (5) days or more than nine (9) days but not more than eleven (11) days, the unearned credit service charge shall be increased by an adjustment for each day by which the interval is less than seven (7) days and, at the option of the seller, may be reduced by an adjustment for each day by which the interval is more than seven (7) days; the adjustment for each day shall be one-seventh (1/7) of that part of the credit service charge earned in the computational period prior to the due date of the first scheduled installment assuming that period to be one (1) week; and

(B) if the interval to the final scheduled payment date is a number of computational periods plus an additional number of days less than a full week, the additional number of days shall be considered a computational period only if five (5) days or more. This clause applies whether or not clause (A) applies.

(f) If a deferral under section 7 of this chapter has been agreed to, the unearned portion of the credit service charge shall be computed without regard to the deferral. The amount of deferral charge earned at the date of prepayment shall also be calculated. If the deferral charge earned is less than the deferral charge paid, the difference shall be added to the unearned portion of the credit service charge. If any part of a deferral charge has been earned but has not been paid, that part shall be subtracted from the unearned portion of the credit service charge or shall be added to the unpaid balance.

(g) This section does not preclude the collection or retention by the seller of delinquency charges under section 6 of this chapter.

(h) If the maturity is accelerated for any reason and judgment is obtained, the buyer is entitled to the same rebate as if payment had been made on the date judgment is entered.

(i) Upon prepayment in full of a consumer credit sale by the proceeds of consumer credit insurance, the buyer or the buyer's estate shall pay the same credit service charge or receive the same rebate as though the buyer had prepaid the agreement on the date the proceeds of the insurance are paid to the seller, but no later than ten (10) business days after satisfactory proof of loss is furnished to the seller. This subsection applies whether or not the credit sale is precomputed.

(j) Upon prepayment in full of a transaction with a term of more than sixty-one (61) months, the unearned part of the credit service charge shall be computed by applying the disclosed annual percentage rate that would yield the credit service charge originally contracted for to the unpaid balances of the amount financed for the full computational periods following the prepayment, as originally scheduled or as deferred.

[Pre-2026 Revision Citation: 24-4.5-2-210.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-16 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-16
No assignment of earnings
Status: in_force

Sec. 16. (a) A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable and is otherwise permitted by law.

(b) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to the seller secured by an assignment of earnings.

[Pre-2026 Revision Citation: 24-4.5-3-403.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-3-4 — Indiana Code / Title 37 / Article 4 / Chapter 3 / Section 37-4-3-4
Homeowner's duty to repay amounts advanced before rescission
Status: in_force

Sec. 4. (a) If a homeowner rescinds a contract with a foreclosure consultant or a foreclosure reconveyance agreement, the homeowner shall, not later than thirty (30) days after the date of rescission, repay any amounts paid or advanced by:

(1) the foreclosure consultant or the foreclosure consultant's agent under the terms of the foreclosure consulting contract; or

(2) a person under a foreclosure reconveyance agreement.

(b) A rescission by a homeowner under this chapter is void if the payments required under this section are not made within the time set forth in subsection (a).

[Pre-2026 Revision Citation: 24-5.5-4-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-13 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-13
Temporary relief
Status: in_force

Sec. 13. With respect to an action brought to enjoin violations of this article under section 11 of this chapter or unconscionable agreements or fraudulent or unconscionable conduct under section 12 of this chapter, the department may apply to the court for appropriate temporary relief against a respondent, pending final determination of proceedings. If the court finds after a hearing held upon notice to the respondent that there is reasonable cause to believe that the respondent is engaging in or is likely to engage in conduct sought to be restrained, it may grant any temporary relief or restraining order it deems appropriate.

[Pre-2026 Revision Citation: 24-4.5-6-112.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-8 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-8
Loan financing charge on refinancing
Status: in_force

Sec. 8. With respect to a consumer loan, refinancing, or consolidation, the lender may by agreement with the debtor refinance the unpaid balance and may contract for and receive a loan finance charge based on the principal resulting from the refinancing at a rate not exceeding that permitted by the provisions on a loan finance charge for consumer loans (section 4 of this chapter) or the provisions on a loan finance charge for supervised loans (section 35 of this chapter), whichever is appropriate. For the purpose of determining the loan finance charge permitted, the principal resulting from the refinancing comprises the following:

(1) If:

(A) the transaction was not precomputed, the total of the unpaid balance and the accrued charges on the date of the refinancing; or

(B) the transaction was precomputed, in the case of a transaction entered into before July 1, 2020, the amount which the debtor would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment under section 13 of this chapter on the date of refinancing.

(2) Appropriate additional charges under section 5 of this chapter, payment of which is deferred.

[Pre-2026 Revision Citation: 24-4.5-3-205.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-5 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-5
Term of loan; consecutive small loans; extended payment plans
Status: in_force

Sec. 5. (a) A small loan may not be made for a term of less than fourteen (14) days.

(b) If five (5) consecutive small loans have been made to a borrower after the borrower's initial small loan, another small loan may not be made to that borrower within seven (7) days after the fifth consecutive small loan is paid in full. After the borrower's fifth consecutive small loan, the balance must be paid in full.

(c) Subject to subsection (d), whenever a borrower has entered into an initial small loan followed by three (3) consecutive small loans, the lender shall offer the borrower the option to repay:

(1) the third consecutive small loan; and

(2) subject to subsection (b), any small loan entered into after the third consecutive small loan;

under an extended payment plan. At the time of execution of a small loan described in subdivision (1) or (2), the lender shall disclose to the borrower the extended payment plan option by providing the borrower a written description of the extended payment plan option in a separate disclosure document approved by the director.

(d) A lender shall offer an extended payment plan under subsection (c) under the following terms and conditions:

(1) A borrower shall be permitted to request an extended payment plan at any time during the term of a third or subsequent consecutive small loan if:

(A) the borrower has not defaulted on the outstanding small loan; and

(B) the rescission period under section 6(f) of this chapter has expired.

(2) An extended payment plan must allow the outstanding small loan to be paid in at least four (4) equal installments over a period of not less than sixty (60) days.

(3) An agreement for an extended payment plan may not require a borrower to pay any amount before the original maturity date of the outstanding small loan.

(4) The lender may not assess any fee or charge on a borrower for entering into an extended payment plan.

(5) An agreement for an extended payment plan must be in writing and acknowledged by both the borrower and the lender.

(6) A borrower may not enter into another small loan transaction while engaged in an extended payment plan.

(7) A lender shall not:

(A) compel, advise, solicit, or coerce a borrower to not exercise the borrower's right to request an extended payment plan;

(B) discourage a borrower from exercising the borrower's right to request an extended payment plan; or

(C) take any other action to influence a borrower's right to request an extended payment plan.

(e) An agreement for an extended payment plan under subsection (c):

(1) shall be considered an extension of the outstanding small loan; and

(2) may not be considered a new loan.

[Pre-2026 Revision Citation: 24-4.5-7-401.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-5-2 — Indiana Code / Title 37 / Article 5 / Chapter 5 / Section 37-5-5-2
Acceleration; reinstatement of high cost home loan after cure of default
Status: reserved

Sec. 2. (a) If a creditor asserts that grounds for acceleration under the terms of a high cost home loan exist and requires the payment in full of all sums secured by the security instrument, the borrower or a person authorized to act on the borrower's behalf at any time before the title is transferred by means of foreclosure, judicial proceeding and sale, or otherwise may cure the default and reinstate the high cost home loan by tendering the amount or performance as specified in the security instrument.

(b) If the borrower cures the default on a high cost home loan, the original loan terms shall be reinstated, and any acceleration of any obligation under the security instrument or note arising from the default is nullified as of the date of the cure.

[Pre-2026 Revision Citation: 24-9-5-2.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-9 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-9
Cease and desist orders; judicial review or enforcement proceedings; record; appeal; unconscionable or fraudulent conduct subject to injunction
Status: in_force

Sec. 9. (a) After notice and an opportunity to be heard, the department may order a creditor, or a person acting on behalf of the creditor, to cease and desist from engaging in violations of this article. A respondent aggrieved by an order of the department may obtain judicial review of the order and the department may obtain an order of the court for enforcement of its order in any civil court. The proceeding for review or enforcement is initiated by filing a petition in the court. Copies of the petition shall be served upon all parties of record.

(b) Within thirty (30) days after service of the petition for review upon the department, or within any further time the court may allow, the department shall transmit to the court the original or a certified copy of the entire record upon which the order is based, including any transcript of testimony, which need not be printed. By stipulation of all parties to the review proceeding, the record may be shortened. After hearing the court may:

(1) reverse or modify the order if the findings of fact of the department are clearly erroneous in view of the reliable, probative, and substantial evidence on the whole record;

(2) grant any temporary relief or restraining order it deems just; and

(3) enter an order enforcing, modifying, and enforcing as modified, or setting aside in whole or in part the order of the department, or remanding the case to the department for further proceedings.

(c) An objection not urged at the hearing shall not be considered by the court unless the failure to urge the objection is excused for good cause shown. A party may move the court to remand the case to the department in the interest of justice for the purpose of adducing additional specified and material evidence and seeking finding thereon upon good cause shown for the failure to adduce this evidence before the department.

(d) The jurisdiction of the court shall be exclusive and its final judgment or decree shall be subject to review by the court on appeal in the same manner and form and with the same effect as in appeals from a final judgment or decree. The department's copy of the testimony shall be available at reasonable times to all parties for examination without cost.

(e) A proceeding for review under this section must be initiated within thirty (30) days after a copy of the order of the department is received. If no proceeding is so initiated, the department may obtain a decree of the civil court for enforcement of its order upon a showing that an order was issued in compliance with this section, that no proceeding for review was initiated within thirty (30) days after copy of the order was received, and that the respondent is subject to the jurisdiction of the court.

(f) With respect to unconscionable agreements or fraudulent or unconscionable conduct by the respondent, the department may not issue an order pursuant to this section but may bring a civil action for an injunction under section 12 of this chapter.

[Pre-2026 Revision Citation: 24-4.5-6-108.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-12 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-12
Violations by individuals; persons convicted of felonies; civil penalties; creditor's duty to notify department of discharge or termination
Status: in_force

Sec. 12. (a) If the director determines that a current or former director, an officer, or a manager of a creditor:

(1) has committed a violation of a statute, a rule, a final cease and desist order, any condition imposed in writing by the director in connection with the granting of any application or other request by the creditor, or any written agreement between the creditor and the director or the department;

(2) has committed fraudulent or unconscionable conduct; or

(3) has been convicted of a felony under the laws of Indiana or any other jurisdiction;

the director, subject to subsection (b), may issue and serve upon the officer, director, or manager a notice of the director's intent to issue an order removing the person from the person's office or employment, an order prohibiting any participation by the person in the conduct of the affairs of any creditor, or an order both removing the person and prohibiting the person's participation.

(b) A violation, practice, or breach specified in subsection (a) is subject to the authority of the director under subsections (a) and (c) if the director finds any of the following:

(1) The interests of the creditor's customers could be seriously prejudiced by reason of the violation or practice.

(2) The violation, practice, or breach involves an act of fraud, dishonesty, theft, breach of trust, money laundering, or the wrongful taking of property on the part of the officer, director, or manager involved.

(3) The violation, practice, or breach demonstrates a willful or continuing disregard by the officer, director, or manager for state and federal laws and regulations, and for the consumer protections contained in this article.

(c) A person who has been convicted of a felony under the laws of Indiana or any other jurisdiction may not serve as an officer, a director, or a manager of a creditor, or serve in any similar capacity, unless the person obtains the written consent of the director.

(d) A creditor that willfully permits a person to serve the creditor in violation of subsection (c) is subject to a civil penalty of five hundred dollars ($500) for each day the violation continues.

(e) A creditor shall give the department written notice of the resignation, discharge, or termination of an employee, independent contractor, or agent against whom allegations were made that accused the employee, independent contractor, or agent of:

(1) violating this article or other laws, regulations, rules, or industry standards of conduct applicable to first lien mortgage transactions; or

(2) fraud, dishonesty, theft, breach of trust, money laundering, or the wrongful taking of property.

The creditor shall provide the department the notice required under this subsection not later than thirty (30) days after the effective date of the resignation, discharge, or termination.

[Pre-2026 Revision Citation: 24-4.4-2-404.1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-12 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-12
"Rate"
Status: in_force

Sec. 12. "Rate" means the interest rate charged on a home loan, based on an annual simple interest yield.

[Pre-2026 Revision Citation: 24-9-2-12.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-0.1 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-0.1
Recodification of prior law
Status: in_force

Sec. 0.1. This article must be construed as a recodification of prior law. The enactment of this article by SEA 169-2026 does not affect the substantive operation and effect of the prior law.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-3 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-3
"Precomputed"
Status: in_force

Sec. 3. A loan, refinancing, or consolidation is considered precomputed if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.

[Pre-2026 Revision Citation: 24-4.5-3-107(2).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-45 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-45
"Revolving loan account"
Status: in_force

Sec. 45. "Revolving loan account" means an arrangement between a lender and a debtor pursuant to which:

(1) the lender may permit the debtor to obtain loans from time to time;

(2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account;

(3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and

(4) the debtor has the privilege of paying the balances in installments.

[Pre-2026 Revision Citation: 24-4.5-3-108.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-6 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-6
Exempt transactions and persons
Status: in_force

Sec. 6. This article does not apply to the following:

(1) Extensions of credit to government or governmental agencies or instrumentalities.

(2) A first lien mortgage transaction in which the debt is incurred primarily for a purpose other than a personal, family, or household purpose.

(3) An extension of credit primarily for a business, a commercial, or an agricultural purpose.

(4) Except for IC 37-1-3-4(b), IC 37-1-3-8, IC 37-1-3-19(d), and IC 37-1-3-19(e), a first lien mortgage transaction made:

(A) in compliance with the requirements of; and

(B) by a community development corporation (as defined in IC 4-4-28-2) acting as a subrecipient of funds from;

the Indiana housing and community development authority established by IC 5-20-1-3.

(5) Except for IC 37-1-3-4(b), IC 37-1-3-8, IC 37-1-3-19(d), and IC 37-1-3-19(e), a first lien mortgage transaction made by an entity that exclusively uses funds provided by the United States Department of Housing and Urban Development under Title 1 of the federal Housing and Community Development Act of 1974, Public Law 93-383, as amended (42 U.S.C. 5301 et seq.).

(6) An extension of credit originated by the following:

(A) A depository institution.

(B) Subsidiaries that are not licensed under this article and that are:

(i) owned and controlled by a depository institution; and

(ii) regulated by a federal banking agency.

(C) An institution regulated by the Farm Credit Administration.

(7) Except for IC 37-1-3-4(b), IC 37-1-3-8, IC 37-1-3-19(d), and IC 37-1-3-19(e), a credit union service organization that is majority owned, directly or indirectly, by one (1) or more credit unions.

(8) A person that does not engage as a creditor in first lien mortgage transactions in Indiana. However, a person may voluntarily register with the department for the purpose of sponsoring employees who are licensed as mortgage loan originators under this article and 750 IAC 9-3, and who are engaged solely as third party loan processors or underwriters, if the person does the following:

(A) Assumes responsibility for and reasonably supervises the activities of all licensed mortgage loan originators sponsored by the person.

(B) Registers with and maintains a valid unique identifier issued by the NMLSR as required by IC 37-1-3-4(b), maintains a surety bond in accordance with IC 37-1-3-8, submits to the NMLSR reports of condition in accordance with IC 37-1-3-19(d) (subject to IC 37-1-3-9), and files financial statements with the department in accordance with IC 37-1-3-19(e).

(C) Cooperates with the department, and provides access to records and documents, as required by the department in carrying out examinations of the activities of the licensed mortgage loan originators sponsored by the person, as described in IC 37-1-3-19(a).

(D) Agrees to comply with all law, rules, directives, and orders in connection with the activities of the licensed mortgage loan originators sponsored by the person, as the director determines necessary to ensure compliance with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (12 U.S.C. 5101 et seq.) and with Indiana law.

(9) A first lien mortgage transaction originated by a registered mortgage loan originator, when acting for an entity described in subdivision (6). However, a privately insured state chartered credit union shall comply with the system of mortgage loan originator registration developed by the Federal Financial Institutions Examinations Council under Section 1507 of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE).

(10) An individual who offers or negotiates terms of a mortgage transaction with or on behalf of an immediate family member of the individual.

(11) An individual who offers or negotiates terms of a mortgage transaction secured by a dwelling that served as the individual's residence.

(12) Unless the attorney is compensated by:

(A) a lender;

(B) a mortgage broker;

(C) another mortgage loan originator; or

(D) any agent of the lender, mortgage broker, or other mortgage loan originator described in clauses (A) through (C);

a licensed attorney who negotiates the terms of a mortgage transaction on behalf of a client as an ancillary matter to the attorney's representation of the client.

(13) The United States, any state or local government, or any agency or instrumentality of any governmental entity, including United States government sponsored enterprises.

(14) A person in whose name a tablefunded transaction is closed. However, the exemption provided by this subdivision does not apply if:

(A) the transaction:

(i) is secured by a dwelling that is a mobile home, a manufactured home, or a trailer; and

(ii) is not also secured by an interest in land; and

(B) the person in whose name the transaction is closed sells the dwelling to the debtor through a retail installment contract or other similar transaction.

(15) A bona fide nonprofit organization not operating in a commercial context, as determined by the director, if the following criteria are satisfied:

(A) Subject to clause (B), the organization originates only one (1) or both of the following types of mortgage transactions:

(i) Zero (0) interest first lien mortgage transactions.

(ii) Zero (0) interest subordinate lien mortgage transactions.

(B) The organization does not require, under the terms of the mortgage or otherwise, balloon payments with respect to the mortgage transactions described in clause (A).

(C) The organization is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code.

(D) The organization's primary purpose is to serve the public by helping low income individuals and families build, repair, and purchase housing.

(E) The organization uses only:

(i) unpaid volunteers; or

(ii) employees whose compensation is not based on the number or size of any mortgage transactions that the employees originate;

to originate the mortgage transactions described in clause (A).

(F) The organization does not charge loan origination fees in connection with the mortgage transactions described in clause (A).

(16) A bona fide nonprofit organization if the following criteria are satisfied:

(A) For each calendar year that the organization seeks the exemption provided by this subdivision, the organization certifies, not later than December 31 of the preceding calendar year and on a form prescribed by the director and accompanied by such documentation as required by the director, that the organization is a bona fide nonprofit organization.

(B) The director determines that the organization originates only mortgage transactions that are favorable to the debtor. For purposes of this clause, a mortgage transaction is favorable to the debtor if the director determines that the terms of the mortgage transaction are consistent with terms of mortgage transactions made in a public or charitable context, rather than in a commercial context.

[Pre-2026 Revision Citation: 24-4.4-1-202(b).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-36 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-36
"Organization"
Status: in_force

Sec. 36. "Organization" means a corporation, a government or governmental subdivision, an agency, a trust, an estate, a partnership, a limited liability company, a cooperative, an association, a joint venture, an unincorporated organization, or any other entity, however organized.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(31).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-15 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-15
Debtor's remedies not affected
Status: in_force

Sec. 15. The grant of powers to the department in this article does not affect remedies available to debtors under this article or under other principles of law or equity.

[Pre-2026 Revision Citation: 24-4.5-6-115.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-7 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-7
Deferral charges
Status: in_force

Sec. 7. (a) This section applies only to a consumer credit sale, refinancing, or consolidation, that is entered into before July 1, 2020. With respect to a precomputed consumer credit sale, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the seller may make and collect a charge not exceeding the lesser of thirty-six percent (36%) per year or the rate previously stated to the buyer pursuant to section 13 of this chapter applied to the amount or amounts deferred for the period of deferral calculated without regard to differences in lengths of months, but proportionately for a part of a month, counting each day as one-thirtieth (1/30) of a month. A deferral charge may be collected at the time it is assessed or at any time thereafter.

(b) The seller, in addition to the deferral charge, may make appropriate additional charges under section 5 of this chapter, and the amount of these charges which is not paid in cash may be added to the amount deferred for the purpose of calculating the deferral charge.

(c) The parties may agree in writing at the time of a precomputed consumer credit sale, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the seller may unilaterally grant a deferral and make charges as provided in this section. No deferral charge may be made for a period after the date that the seller elects to accelerate the maturity of the agreement.

(d) A delinquency charge made by the seller on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.

[Pre-2026 Revision Citation: 24-4.5-2-204.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-1-0.3 — Indiana Code / Title 37 / Article 5 / Chapter 1 / Section 37-5-1-0.3
Contracts entered into under prior law
Status: in_force

Sec. 0.3. A contract entered into in accordance with IC 24-9 (before its repeal) is considered a contract entered into in accordance with this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-2-5 — Indiana Code / Title 37 / Article 4 / Chapter 2 / Section 37-4-2-5
"Formal settlement"
Status: in_force

Sec. 5. "Formal settlement" means a face-to-face meeting with a homeowner to complete final documents incident to the:

(1) sale or transfer of real property; or

(2) creation of a mortgage or equitable interest in real property;

conducted by a person who is not employed by or an affiliate of the foreclosure purchaser.

[Pre-2026 Revision Citation: 24-5.5-2-5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-3 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-3
Stated cash price presumed to be the cash price
Status: in_force

Sec. 3. The cash price stated by the seller to the buyer pursuant to section 13 of this chapter is presumed to be the cash price.

[Pre-2026 Revision Citation: 24-4.5-2-110 (presumption).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-32 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-32
Limitation on default charges in consumer related sales
Status: in_force

Sec. 32. (a) An agreement with respect to a consumer related sale may provide for only the following charges as a result of the buyer's default:

(1) Reasonable attorney's fees and reasonable expenses incurred in realizing on a security interest.

(2) Deferral charges not in excess of twenty-five percent (25%) per year of the amount deferred for the period of deferral.

(3) Other charges that could have been made had the sale been a consumer credit sale.

(b) A provision in violation of this section is unenforceable.

[Pre-2026 Revision Citation: 24-4.5-2-604.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-21.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-21.5
"First lien mortgage transaction"
Status: in_force

Sec. 21.5. "First lien mortgage transaction" means:

(1) a consumer loan; or

(2) a consumer credit sale;

that is or will be used by the debtor primarily for personal, family, or household purposes and that is secured by a mortgage or a land contract (or another consensual security interest equivalent to a mortgage or a land contract) that constitutes a first lien on a dwelling or on residential real estate upon which a dwelling is constructed or intended to be constructed.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(18).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-20.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-20.5
"Expedited payment service"
Status: in_force

Sec. 20.5. "Expedited payment service" means a service offered to a consumer to ensure that a payment made by the consumer with respect to a consumer credit sale or a consumer loan will be reflected as paid and posted on an expedited basis.

[Pre-2026 Revision Citation: 24-4.5-3-202(5).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-5 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-5
Maximum charge by creditor for insurance; methods for calculating charge
Status: in_force

Sec. 5. (a) Except as provided in subsection (b), if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the debtor is determined, conforming to any rate filings required by law and made by the insurer with the insurance commissioner.

(b) A creditor who provides consumer credit insurance in relation to a revolving charge account or revolving loan account may calculate the charge to the debtor in each billing cycle by applying the current premium rate to one (1) of the following:

(1) The average daily unpaid balance of the debt in the cycle.

(2) The unpaid balance of the debt or a median amount within a specified range of unpaid balances of debt on approximately the same day of the cycle. The day of the cycle need not be the day used in calculating the credit service charge under IC 37-2-3-4(f) or loan finance charge (IC 37-2-4-4 and IC 37-2-4-35), but the specified range shall be the range used for that purpose.

(3) The unpaid balances of principal calculated according to the actuarial method.

(4) The amount of the insurance benefit for the cycle.

[Pre-2026 Revision Citation: 24-4.5-4-107.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-2-5 — Indiana Code / Title 37 / Article 3 / Chapter 2 / Section 37-3-2-5
"Lender"
Status: in_force

Sec. 5. "Lender" means a person that acquires and retains a license issued by the department of financial institutions under this chapter to engage in small loans.

[Pre-2026 Revision Citation: 24-4.5-7-111.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-9-3 — Indiana Code / Title 37 / Article 5 / Chapter 9 / Section 37-5-9-3
Distributions by state comptroller
Status: in_force

Sec. 3. On or before June 30 and December 31 of each year the state comptroller shall distribute one dollar and twenty-five cents ($1.25) of the mortgage recording fee to the state general fund and one dollar and twenty-five cents ($1.25) of the mortgage recording fee to the homeowner protection unit account established by IC 4-6-12-9.

[Pre-2026 Revision Citation: 24-9-9-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-39 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-39
"Person related to" with respect to an individual
Status: in_force

Sec. 39. "Person related to" with respect to an individual means:

(1) the spouse of the individual;

(2) a brother, brother-in-law, sister, or sister-in-law of the individual;

(3) an ancestor or lineal descendants of the individual or the individual's spouse; and

(4) any other relative, by blood or marriage, of the individual or the individual's spouse who shares the same home with the individual.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(34).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-6 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-6
Consolidated periodic payments paid from loan proceeds
Status: in_force

Sec. 6. A high cost home loan may not include terms under which more than two (2) periodic payments required under the high cost home loan are consolidated and paid in advance from the high cost home loan proceeds provided to the borrower.

[Pre-2026 Revision Citation: 24-9-4-6.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-31 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-31
"Payable in installments"
Status: in_force

Sec. 31. "Payable in installments", with respect to a debt or an obligation, means that payment is required or permitted by written agreement to be made in more than four (4) installments not including a down payment.

[Pre-2026 Revision Citation: 24-4.4-1-301(27).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-13 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-13
Knowing violations
Status: in_force

Sec. 13. (a) A lender who knowingly makes charges in excess of those permitted by the provisions of this article commits a Class A misdemeanor.

(b) A person who knowingly engages in the business of making consumer loans without a license in violation of the provisions of this article applying to authority to make consumer loans (IC 37-2-4-23 and IC 37-2-4-24) commits a Class A misdemeanor.

(c) A person who knowingly:

(1) engages in the business of making consumer credit sales, consumer leases, or consumer loans, or of taking assignments of rights against debtors; and

(2) undertakes direct collection of payments or enforcement of these rights, without complying with the provisions of this article concerning notification (IC 37-2-7-25) or payment of fees (IC 37-2-7-26);

commits a Class A infraction.

[Pre-2026 Revision Citation: 24-4.5-5-301.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-40 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-40
Change in control of creditor; application to department; timeframe for department's decision; conditions for approval; creditor's duty to report transfer of securities; director's discretion to require new license
Status: in_force

Sec. 40. (a) As used in this section, "control" means possession of the power directly or indirectly to:

(1) direct or cause the direction of the management or policies of a creditor, whether through the beneficial ownership of voting securities, by contract, or otherwise; or

(2) vote at least twenty-five percent (25%) of the voting securities of a creditor, whether the voting rights are derived through the beneficial ownership of voting securities, by contract, or otherwise.

(b) An organization or an individual acting directly, indirectly, or through or in concert with one (1) or more other organizations or individuals may not acquire control of any creditor unless the department has received and approved an application for change in control. The department has not more than one hundred twenty (120) days after receipt of an application to issue a notice approving the proposed change in control. The application must contain the name and address of the organization, individual, or individuals who propose to acquire control and any other information required by the director.

(c) The period for approval under subsection (b) may be extended:

(1) in the discretion of the director for an additional thirty (30) days; and

(2) not more than two (2) additional times for not more than forty-five (45) days each time if:

(A) the director determines that the organization, individual, or individuals who propose to acquire control have not submitted substantial evidence of the qualifications described in subsection (d);

(B) the director determines that any material information submitted is substantially inaccurate; or

(C) the director has been unable to complete the investigation of the organization, individual, or individuals who propose to acquire control because of any delay caused by or the inadequate cooperation of the organization, individual, or individuals.

(d) The department shall issue a notice approving the application only after the department is satisfied that both of the following apply:

(1) The organization, individual, or individuals who propose to acquire control are qualified by competence, experience, character, and financial responsibility to control and operate the creditor in a legal and proper manner.

(2) The interests of the owners and creditors of the creditor and the interests of the public generally will not be jeopardized by the proposed change in control.

(e) The director may determine, in the director's discretion, that subsection (b) does not apply to a transaction if the director determines that the direct or beneficial ownership of the creditor will not change as a result of the transaction.

(f) The president or other chief executive officer of a creditor shall report to the director any transfer or sale of securities of the creditor that results in direct or indirect ownership by a holder or an affiliated group of holders of at least ten percent (10%) of the outstanding securities of the creditor. The report required by this subsection must be made not later than ten (10) days after the transfer of the securities on the books of the creditor.

(g) Depending on the circumstances of the transaction, the director may reserve the right to require the organization, individual, or individuals who propose to acquire control of a creditor licensed under this article to apply for a new license under section 26 of this chapter, instead of acquiring control of the licensee under this section.

[Pre-2026 Revision Citation: 24-4.5-3-515.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-17 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-17
Violations by individuals; persons convicted of felonies; civil penalties; creditor's duty to notify department of discharge or termination
Status: in_force

Sec. 17. (a) Subject to subsection (b), if the director determines that a director, an officer, or a manager of a creditor:

(1) has committed a violation of a statute, a rule, a final cease and desist order, a condition imposed in writing by the director in connection with the grant of an application or other request by the creditor, or a written agreement between the creditor and the director or the department;

(2) has committed fraudulent or unconscionable conduct; or

(3) has been convicted of a felony under the laws of Indiana or any other jurisdiction;

the director may issue and serve upon the person a notice of charges and of the director's intent to issue an order removing the person from the person's office or employment, an order prohibiting participation by the person in the conduct of the affairs of any creditor, or an order both removing the person and prohibiting the person's participation.

(b) A violation, practice, or breach described in subsection (a) is subject to the authority of the director under subsections (a) and (c) if the director finds any of the following:

(1) The interests of the creditor's customers could be seriously prejudiced by reason of the violation, practice, or breach.

(2) The violation, practice, or breach involves an act of fraud, dishonesty, theft, breach of trust, money laundering, or wrongful taking of property on the part of the officer, director, or manager involved.

(3) The violation, practice, or breach demonstrates a willful or continuing disregard by the officer, director, or manager for state or federal law and regulations, and for the consumer protections contained in this article.

(c) Subject to subsections (a) and (b), a person who has been convicted of a felony under the laws of Indiana or any other jurisdiction may not serve as an officer, a director, or a manager of a creditor, or serve in any similar capacity, unless the person obtains the written consent of the director.

(d) A creditor that willfully permits a person to serve the creditor in violation of subsection (c) is subject to a civil penalty of five hundred dollars ($500) for each day the violation occurs.

(e) A creditor shall give the department written notice of the resignation, discharge, or termination of an employee, independent contractor, or agent against whom allegations were made that accused the employee, independent contractor, or agent of:

(1) violating this article or other laws, regulations, rules, or industry standards of conduct applicable to consumer credit transactions; or

(2) fraud, dishonesty, theft, breach of trust, money laundering, or the wrongful taking of property.

The creditor shall provide the department the notice required under this subsection not later than thirty (30) days after the effective date of the resignation, discharge, or termination.

[Pre-2026 Revision Citation: 24-4.5-6-119.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-6 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-6
Delinquency charges; conversion of precomputed loan to loan with finance charge based on unpaid balances
Status: in_force

Sec. 6. (a) With respect to a consumer loan, refinancing, or consolidation, the parties may contract for a delinquency charge of not more than the following:

(1) Five dollars ($5) on any installment or minimum payment due that is not paid in full not later than ten (10) days after its scheduled due date, in the case of a consumer loan, refinancing, or consolidation that is made before July 1, 2019. The amount of five dollars ($5) in this subdivision is subject to change under IC 37-2-1-5. In addition, the parties may provide by contract for a delinquency charge that is subject to change. If the parties provide by contract for a delinquency charge that is subject to change, the lender shall disclose in the contract that the amount of the delinquency charge is subject to change under IC 37-2-1-5 or this section.

(2) In the case of a consumer loan, refinancing, or consolidation that is made after June 30, 2019, the following:

(A) Five dollars ($5) on any installment or minimum payment due that is not paid in full not later than ten (10) days after its scheduled due date, if installments under the consumer loan, refinancing, or consolidation are due every fourteen (14) days or less. The amount of five dollars ($5) in this clause is not subject to change under IC 37-2-1-5.

(B) Twenty-five dollars ($25) on any installment or minimum payment due that is not paid in full not later than ten (10) days after its scheduled due date, if installments under the consumer loan, refinancing, or consolidation are due every fifteen (15) days or more. The amount of twenty-five dollars ($25) in this clause is not subject to change under IC 37-2-1-5.

(C) Twenty-five dollars ($25) on any installment or minimum payment due that is not paid in full not later than ten (10) days after its scheduled due date, in the case of a consumer loan, refinancing, or consolidation that is payable in a single installment that is due at least thirty (30) days after the consumer loan, refinancing, or consolidation is made. The amount of twenty-five dollars ($25) in this clause is not subject to change under IC 37-2-1-5.

(b) A delinquency charge under this section may be collected only once on an installment however long it remains in default. With regard to a delinquency charge on consumer loans made under a revolving loan account, the delinquency charge may be applied each month that the payment is less than the minimum required payment on the account. A delinquency charge may be collected any time after it accrues. A delinquency charge may not be collected if:

(1) the installment has been deferred and a deferral charge under section 7 of this chapter has been paid or incurred;

(2) a charge for a skip-a-payment service under section 5(a)(9) of this chapter has been paid or incurred, as provided in section 5(a)(9)(C) of this chapter; or

(3) a charge for an optional expedited payment service under section 5(a)(10) of this chapter has been paid or incurred, as provided in section 5(a)(10)(E) of this chapter.

(c) A creditor may not, directly or indirectly, charge or collect a delinquency charge on a payment that:

(1) is paid not later than ten (10) days after its scheduled due date; and

(2) is otherwise a full payment of the payment due for the applicable installment period;

if the only delinquency with respect to the consumer loan, refinancing, or consolidation is attributable to a delinquency charge assessed on an earlier installment.

(d) If two (2) or more installments, or parts of two (2) or more installments, of a precomputed loan are in default for ten (10) days or more, the lender may elect to convert the loan from a precomputed loan to a loan in which the finance charge is based on unpaid balances. A lender that makes this election shall make a rebate under the provisions on rebates upon prepayment set forth in section 13 of this chapter as of the maturity date of the first delinquent installment, and thereafter may make a loan finance charge as authorized by the provisions on loan finance charges for consumer loans (section 4 of this chapter) or supervised loans (section 35 of this chapter). The amount of the rebate shall not be reduced by the amount of any permitted minimum charge under section 13 of this chapter. Any deferral charges made on installments due at or after the maturity date of the first delinquent installment shall be rebated, and no further deferral charges shall be made.

[Pre-2026 Revision Citation: 24-4.5-3-203.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-1-0.5 — Indiana Code / Title 37 / Article 4 / Chapter 1 / Section 37-4-1-0.5
Documents, websites, or business communications created under prior law
Status: in_force

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-5.5 (before its repeal) is considered a document, website, or business communication created in accordance with this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-17 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-17
"Federal banking agencies"
Status: in_force

Sec. 17. "Federal banking agencies" means the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation.

[Pre-2026 Revision Citation: 24-4.4-1-301(13).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-3-8 — Indiana Code / Title 37 / Article 5 / Chapter 3 / Section 37-5-3-8
Intimidation, coercion, and harassment prohibited
Status: in_force

Sec. 8. A person seeking to enforce section 7(c)(3), 7(c)(4), or 7(c)(5) of this chapter may not knowingly or intentionally intimidate, coerce, or harass another person.

[Pre-2026 Revision Citation: 24-9-3-8.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-8-4 — Indiana Code / Title 37 / Article 5 / Chapter 8 / Section 37-5-8-4
Complaints
Status: in_force

Sec. 4. The attorney general may file complaints with any of the agencies listed in IC 4-6-12-4 to implement this chapter.

[Pre-2026 Revision Citation: 24-9-8-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-7 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-7
Existing insurance; choice of insurer
Status: in_force

Sec. 7. If a creditor requires insurance, upon notice to the creditor the debtor shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and paid for by the debtor, but the creditor may for reasonable cause decline the insurance provided by the debtor.

[Pre-2026 Revision Citation: 24-4.5-4-109.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-0.1 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-0.1
Chapter not applicable to loans made before January 1, 2005
Status: in_force

Sec. 0.1. A person is not subject to a prohibition or requirement of:

(1) IC 24-9-3 (before its repeal) and IC 24-9-4 (before its repeal), both as added by P.L.73-2004; or

(2) this chapter and IC 37-5-3;

with respect to a loan made before January 1, 2005.

[Pre-2026 Revision Citation: 24-9-4-0.1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-5 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-5
Applications for licenses; issuance; evidence of compliance; use of NMLSR; denial of application; right to hearing; fees; license not assignable or transferable; tax warrant list
Status: in_force

Sec. 5. (a) The department shall receive and act on all applications for licenses to engage in first lien mortgage transactions. Applications must be made as prescribed by the director. If, at any time, the information or record contained in:

(1) an application filed under this section; or

(2) a renewal application filed under section 10 of this chapter;

is or becomes inaccurate or incomplete in a material respect, the applicant shall promptly file a correcting amendment with the department.

(b) A license may not be issued unless the department finds that the professional training and experience, financial responsibility, character, and fitness of:

(1) the applicant and any significant affiliate of the applicant;

(2) each executive officer, director, or manager of the applicant, or any other individual having a similar status or performing a similar function for the applicant; and

(3) if known, each person directly or indirectly owning of record or owning beneficially at least ten percent (10%) of the outstanding shares of any class of equity security of the applicant;

are such as to warrant belief that the business will be operated honestly and fairly within the purposes of this article.

(c) The director is entitled to request evidence of compliance with this section at:

(1) the time of application;

(2) the time of renewal of a license; or

(3) any other time considered necessary by the director.

(d) Evidence of compliance with this section must include:

(1) criminal background checks, as described in section 6 of this chapter, including a national criminal history background check (as defined in IC 10-13-3-12) by the Federal Bureau of Investigation, for any individual described in subsection (b);

(2) credit histories as described in section 7 of this chapter;

(3) surety bond requirements as described in section 8 of this chapter;

(4) a review of licensure actions in Indiana and in other states; and

(5) other background checks considered necessary by the director.

(e) For purposes of this section and in order to reduce the points of contact that the director has to maintain for purposes of this section, the director may use the NMLSR as a channeling agent for requesting and distributing information to and from any source as directed by the director.

(f) The department may deny an application under this section if the director of the department determines that the application was submitted for the benefit of, or on behalf of, a person who does not qualify for a license.

(g) Upon written request, the applicant is entitled to a hearing on the question of the qualifications of the applicant for a license in the manner provided in IC 4-21.5.

(h) The applicant shall pay the following fees at the time designated by the department:

(1) An initial license fee as established by the department under IC 28-11-3-5.

(2) An annual renewal fee as established by the department under IC 28-11-3-5.

(3) Examination fees as established by the department under IC 28-11-3-5.

(i) A fee as established by the department under IC 28-11-3-5 may be charged for each day a fee under subsection (h)(2) or (h)(3) is delinquent.

(j) Except in a transaction approved under section 20 of this chapter, a license issued under this section is not assignable or transferable.

(k) If the department of state revenue notifies the department that a person is on the most recent tax warrant list, the department shall not issue or renew the person's license until:

(1) the person provides to the department a statement from the department of state revenue that the person's tax warrant has been satisfied; or

(2) the department receives a notice from the commissioner of the department of state revenue under IC 6-8.1-8-2(k).

[Pre-2026 Revision Citation: 24-4.4-2-402.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-9 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-9
Payments to home improvement contractors
Status: in_force

Sec. 9. A creditor may not pay a contractor under a home improvement contract from the proceeds of a high cost home loan unless:

(1) the creditor is presented with a signed and dated completion certificate showing that the home improvements have been completed; and

(2) the instrument is payable to the borrower or jointly to the borrower and the contractor or, at the election of the borrower, through a third party escrow agent under a written agreement signed by the borrower, the creditor, and the contractor before the disbursement.

[Pre-2026 Revision Citation: 24-9-4-9.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-14 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-14
Actions brought by department; venue
Status: in_force

Sec. 14. The department may bring an action or a proceeding in a court in a county:

(1) in which an act on which the action or proceeding is based occurred;

(2) in which the respondent resides or transacts business; or

(3) in which the action or proceeding is otherwise authorized by rule or venue laws.

[Pre-2026 Revision Citation: 24-4.4-3-114.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-6 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-6
National criminal history background check; fingerprints; payment of fees or costs; use of NMLSR
Status: in_force

Sec. 6. (a) When the director requests a national criminal history background check under section 5(d)(1) of this chapter for an individual described in section 5(b) of this chapter, the director shall require the individual to submit fingerprints to the department, state police department, or NMLSR, as directed, at the time evidence of compliance is requested under section 5(c) of this chapter. The individual to whom the request is made shall pay any fees or costs associated with processing and evaluating the fingerprints and the national criminal history background check. The national criminal history background check may be used by the director to determine the individual's compliance with this section. The director or the department may not release the results of the national criminal history background check to any private entity.

(b) For purposes of this section and in order to reduce the points of contact that the Federal Bureau of Investigation may have to maintain for purposes of this section, the director may use the NMLSR as a channeling agent for requesting information from and distributing information to the United States Department of Justice or any governmental agency.

[Pre-2026 Revision Citation: 24-4.4-2-402.1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-11 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-11
Department's application to court for temporary relief or restraining order
Status: in_force

Sec. 11. With respect to an action brought under:

(1) section 9 of this chapter to enjoin violations of this article; or

(2) section 10 of this chapter to enjoin deceptive acts;

the department may apply to the court for appropriate temporary relief against a respondent, pending final determination of the proceedings. If the court finds after a hearing held upon notice to the respondent that there is reasonable cause to believe that the respondent is engaging in or is likely to engage in the conduct sought to be restrained, the court may grant any temporary relief or restraining order the court considers appropriate.

[Pre-2026 Revision Citation: 24-4.4-3-110.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-38 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-38
"Revolving first lien mortgage transaction"
Status: in_force

Sec. 38. "Revolving first lien mortgage transaction" means a first lien mortgage transaction in which:

(1) the creditor permits the debtor to obtain advances from time to time;

(2) the unpaid balances of principal, finance charges, and other appropriate charges are debited to an account; and

(3) the debtor has the privilege of paying the balances in installments.

[Pre-2026 Revision Citation: 24-4.4-1-301(33).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-8 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-8
Entities also conducting activities of a loan broker; cooperation with securities commissioner
Status: in_force

Sec. 8. In the department's examination and regulatory activities related to licensees under this article, the department may cooperate with the Indiana securities commissioner in the regulation of entities that, in addition to conducting business regulated under this article, also conduct activities of a loan broker subject to IC 23-2.5.

[Pre-2026 Revision Citation: 24-4.4-1-204.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-13 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-13
"Depository institution"
Status: in_force

Sec. 13. "Depository institution" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1813(c)) and includes any credit union.

[Pre-2026 Revision Citation: 24-4.4-1-301(9).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-28 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-28
"Mortgage transaction"
Status: in_force

Sec. 28. "Mortgage transaction" means:

(1) a consumer loan; or

(2) a consumer credit sale;

that is or will be used by the debtor primarily for personal, family, or household purposes and that is secured by a mortgage or a land contract (or another consensual security interest equivalent to a mortgage or a land contract) on a dwelling or on residential real estate upon which a dwelling is constructed or intended to be constructed.

[Pre-2026 Revision Citation: 24-4.4-1-301(23).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-9-1 — Indiana Code / Title 37 / Article 5 / Chapter 9 / Section 37-5-9-1
Mortgage recording fee
Status: in_force

Sec. 1. The county recorder shall assess a fee for each mortgage recorded that shall be paid to the county treasurer at the end of each calendar month as set forth in IC 36-2-7-10(c)(2).

[Pre-2026 Revision Citation: 24-9-9-1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-32 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-32
"Person"
Status: in_force

Sec. 32. "Person" includes an individual or an organization.

[Pre-2026 Revision Citation: 24-4.4-1-301(28).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-5-6 — Indiana Code / Title 37 / Article 5 / Chapter 5 / Section 37-5-5-6
Relation to other laws
Status: in_force

Sec. 6. The rights conferred by this article are in addition to rights granted under any other law.

[Pre-2026 Revision Citation: 24-9-5-6.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-3 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-3
"Bona fide discount points"
Status: in_force

Sec. 3. "Bona fide discount points" means loan discount points that:

(1) are knowingly paid by the borrower;

(2) are paid for the express purpose of reducing the interest rate applicable to the loan;

(3) reduce the interest rate from an interest rate that does not exceed the benchmark rate; and

(4) are recouped within the first four (4) years of the scheduled loan payments;

if the reduction in the interest rate that is achieved by the payment of the loan discount points reduces the interest charged on the scheduled payments so that the borrower's dollar amount of savings in interest during the first four (4) years of the loan is equal to or greater than the dollar amount of loan discount points paid by the borrower.

[Pre-2026 Revision Citation: 24-9-2-3.]

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

Sec. 6. (a) If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the debtor.

(b) If it is shown that an extension of credit was made at an annual rate exceeding forty-five percent (45%) calculated according to the actuarial method and that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation, or property of any person to collect extensions of credit or to punish the nonrepayment thereof, there is prima facie evidence that the extension of credit was unenforceable under subsection (a).

[Pre-2026 Revision Citation: 24-4.5-5-107.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-34 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-34
Automated loan machines
Status: in_force

Sec. 34. (a) As used in this section, "automated loan machine" means an unmanned machine that performs routine lending functions.

(b) A licensee may make loans through an automated loan machine at an offsite location if the licensee:

(1) notifies the department in writing of the existence and location of the automated loan machine;

(2) maintains at a location licensed or approved by the department the books, accounts, records, and files concerning transactions performed through the automated loan machine; and

(3) posts at the offsite location where the automated loan machine is located the:

(A) address where the books, accounts, records and files are located; and

(B) telephone number at which the licensee may be contacted.

[Pre-2026 Revision Citation: 24-4.5-3-505.5.]

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

Sec. 6. "Balloon payment", with respect to a mortgage transaction, means any payment that:

(1) the creditor requires the debtor to make at any time during the term of the mortgage;

(2) represents the entire amount of the outstanding balance with respect to the mortgage; and

(3) the entire amount of which is due as of a specified date or at the end of a specified period;

if the aggregate amount of the minimum periodic payments required under the mortgage would not fully amortize the outstanding balance by the specified date or at the end of the specified period. The term does not include a payment required by a creditor under a due-on-sale clause (as defined in 12 U.S.C. 1701j-3(a)) or a payment required by a creditor under a provision in the mortgage that permits the creditor to accelerate the debt upon the debtor's default or failure to abide by the material terms of the mortgage.

[Pre-2026 Revision Citation: 24-4.5-1-202(a).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-8-3 — Indiana Code / Title 37 / Article 5 / Chapter 8 / Section 37-5-8-3
Enforcement actions by attorney general; exception; civil penalty for violation of injunction; jurisdiction of court
Status: in_force

Sec. 3. (a) This section does not apply to a violation of IC 37-5-3-7(c)(4) by a person required to be licensed by the department of financial institutions. The attorney general may bring an action to enjoin a violation of this article. A court in which the action is brought may:

(1) issue an injunction;

(2) order a person to make restitution;

(3) order a person to reimburse the state for reasonable costs of the attorney general's investigation and prosecution of the violation of this article; and

(4) impose a civil penalty of not more than ten thousand dollars ($10,000) per violation.

(b) A person who violates an injunction under this section is subject to a civil penalty of not more than ten thousand dollars ($10,000) per violation.

(c) The court that issues an injunction retains jurisdiction over a proceeding seeking the imposition of a civil penalty under this section.

[Pre-2026 Revision Citation: 24-9-8-3.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-0.3 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-0.3
Contracts entered into under prior law
Status: in_force

Sec. 0.3. A contract entered into in accordance with IC 24-4.4 (before its repeal) is considered a contract entered into in accordance with this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-7.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-7.5
"Cash price"
Status: in_force

Sec. 7.5. "Cash price" means the price at which the goods, services, or interest in land are offered for sale by the seller to cash buyers in the ordinary course of business, and may include:

(1) applicable sales, use, and excise and documentary fees;

(2) the cash price of accessories or related services such as delivery, installation, servicing, repairs, alterations, service contracts, and improvements; and

(3) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees.

[Pre-2026 Revision Citation: 24-4.5-2-110 (definition).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-19 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-19
Record keeping; use of unique identifier on forms and documents; use of examination and regulatory software; reports of condition to NMLSR; financial statements; notice to department of certain events or changes
Status: in_force

Sec. 19. (a) Every licensee shall maintain records in a manner that will enable the department to determine whether the licensee is complying with this article. The record keeping system of a licensee is sufficient if the licensee makes the required information reasonably available. The department shall determine the sufficiency of the records and whether the licensee has made the required information reasonably available. The department shall be given free access to the records wherever the records are located. Records concerning any first lien mortgage transaction shall be retained for two (2) years after the making of the final entry relating to the transaction, but in the case of a revolving first lien mortgage transaction, the two (2) years required under this subsection is measured from the date of each entry relating to the transaction. A person that voluntarily registers with the department under IC 37-1-1-6(8) for the purpose of sponsoring licensed mortgage loan originators shall:

(1) cooperate with the department; and

(2) provide access to records and documents;

as required by the department in carrying out examinations of the activities of the licensed mortgage loan originators sponsored by the person.

(b) The unique identifier of any person originating a mortgage transaction must be clearly shown on all mortgage transaction application forms and any other documents as required by the director.

(c) Every licensee shall use automated examination and regulatory software designated by the director, including third party software. Use of the software consistent with guidance and policies issued by the director is not a violation of IC 28-1-2-30.

(d) Each:

(1) creditor licensed to engage in mortgage transactions by the department; and

(2) person that is exempt from licensing and that:

(A) employs one (1) or more licensed mortgage loan originators; or

(B) sponsors one (1) or more licensed mortgage loan originators as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

shall submit to the NMLSR reports of condition, which must be in a form and must contain information as required by the NMLSR.

(e) Each:

(1) creditor licensed by the department to engage in mortgage transactions; and

(2) person that is exempt from licensing and that:

(A) employs one (1) or more licensed mortgage loan originators; or

(B) sponsors one (1) or more licensed mortgage loan originators as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

shall file with the department additional financial statements relating to all first lien mortgage transactions originated by the licensed creditor or the exempt person as required by the department, but not more frequently than annually, in the form prescribed by the department.

(f) A licensed creditor shall file notification with the department if the licensee:

(1) has a change in name, address, or any of its principals;

(2) opens a new branch, closes an existing branch, or relocates an existing branch;

(3) files for bankruptcy or reorganization; or

(4) is subject to revocation or suspension proceedings by a state or governmental authority with regard to the licensed creditor's activities;

not later than thirty (30) days after the date of the event described in this subsection.

(g) A licensee shall file notification with the department if the licensee or any director, executive officer, or manager of the licensee has been convicted of a felony under the laws of Indiana or any other jurisdiction. The licensee shall file the notification required by this subsection not later than thirty (30) days after the date of the event described in this subsection.

(h) A licensee shall file notification with the department if the licensee or any director, executive officer, or manager of the licensee has had the person's authority to do business in the securities, commodities, banking, financial services, insurance, real estate, or real estate appraisal industry revoked or suspended by Indiana or by any other state, federal, or foreign governmental agency or self-regulatory organization. The licensee shall file the notification required by this subsection not later than thirty (30) days after the date of the event described in this subsection.

[Pre-2026 Revision Citation: 24-4.4-2-405.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-27.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-27.5
"Loan"
Status: in_force

Sec. 27.5. "Loan" includes:

(1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;

(2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;

(3) the creation of debt pursuant to a lender credit card or similar arrangement; and

(4) the forbearance of debt arising from a loan.

[Pre-2026 Revision Citation: 24-4.5-3-106.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-31 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-31
Applicability of other provisions to consumer related sales
Status: in_force

Sec. 31. Except for the rate of the credit service charge set forth in section 4 of this chapter and the rights to prepay and to rebate upon prepayment, sections 4 through 12 of this chapter apply to a consumer related sale.

[Pre-2026 Revision Citation: 24-4.5-2-603.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-18 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-18
Limitation on default charges
Status: in_force

Sec. 18. Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this article. A provision in violation of this section is unenforceable.

[Pre-2026 Revision Citation: 24-4.5-3-405.]

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

Sec. 1. Except as otherwise provided, the definitions set forth in IC 37-2-2 apply throughout this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-10 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-10
Modification, renewal, extension, amendment, or deferral of loan terms; fees and charges prohibited
Status: in_force

Sec. 10. A creditor may not charge a borrower any fees or other charges to modify, renew, extend, or amend a high cost home loan or to defer a payment due under the terms of a high cost home loan.

[Pre-2026 Revision Citation: 24-9-4-10.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-1-0.7 — Indiana Code / Title 37 / Article 4 / Chapter 1 / Section 37-4-1-0.7
References to repealed statutes; references to citations
Status: repealed

Sec. 0.7. (a) A reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2026 regular session of the general assembly is treated after the effective date of the new provision as a reference to the new provision.

(b) A citation reference in the recodification act of the 2026 regular session of the general assembly to another provision of the recodification act of the 2026 regular session of the general assembly is treated as including a reference to the provision of the law concerning mortgage rescue protection fraud that is substantively equivalent to the provision of the recodification act of the 2026 regular session of the general assembly that is referred to by the citation reference.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-11 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-11
Right to prepay without penalty; payoff statement; liability for failure to provide; short sales; foreclosed property; no protection from deficiency judgment
Status: in_force

Sec. 11. (a) Subject to the provisions on rebate upon prepayment set forth in section 12 of this chapter, the buyer may prepay in full the unpaid balance of a consumer credit sale, refinancing, or consolidation at any time without penalty.

(b) At the time of prepayment of a credit sale not subject to the provisions of rebate upon prepayment set forth in section 12 of this chapter, the total credit service charge:

(1) including the prepaid credit service charge; but

(2) subject to section 4(m) of this chapter, excluding the nonrefundable prepaid finance charge allowed under section 4(k) of this chapter, in the case of a sale agreement entered into after June 30, 2020;

may not exceed the maximum charge allowed under this chapter for the period the credit sale was in effect.

(c) The creditor or mortgage servicer shall provide, in writing, an accurate payoff amount for the consumer credit sale to the debtor within seven (7) business days (excluding legal public holidays, Saturdays, and Sundays) after the creditor or mortgage servicer receives the debtor's written request for the accurate consumer credit sale payoff amount. A payoff statement provided by a creditor or mortgage servicer under this subsection must show the date the statement was prepared and itemize the unpaid principal balance and each fee, charge, or other sum included within the payoff amount. A creditor or mortgage servicer who fails to provide the accurate consumer credit sale payoff amount is liable for:

(1) one hundred dollars ($100) if an accurate consumer credit sale payoff amount is not provided by the creditor or mortgage servicer within seven (7) business days (excluding legal public holidays, Saturdays, and Sundays) after the creditor or mortgage servicer receives the debtor's first written request; and

(2) the greater of:

(A) one hundred dollars ($100); or

(B) the credit service charge that accrues on the sale from the date the creditor or mortgage servicer receives the first written request until the date on which the accurate consumer credit sale payoff amount is provided;

if an accurate consumer credit sale payoff amount is not provided by the creditor or mortgage servicer within seven (7) business days (excluding legal public holidays, Saturdays, and Sundays) after the creditor or mortgage servicer receives the debtor's second written request, and the creditor or mortgage servicer failed to comply with subdivision (1).

A liability under this subsection is an excess charge under IC 37-2-6-9.

(d) As used in this subsection, "mortgage transaction" means a consumer credit sale in which a mortgage or a land contract (or another consensual security interest equivalent to a mortgage or a land contract) that constitutes a lien is created or retained against land upon which there is constructed or intended to be constructed a dwelling that is or will be used by the debtor primarily for personal, family, or household purposes. This subsection applies to a mortgage transaction with respect to which any installment or minimum payment due is delinquent for at least sixty (60) days. The creditor, servicer, or the creditor's agent shall acknowledge a written offer made in connection with a proposed short sale not later than five (5) business days (excluding legal public holidays, Saturdays, and Sundays) after the date of the offer if the offer complies with the requirements for a qualified written request set forth in 12 U.S.C. 2605(e)(1)(B). The creditor, servicer, or creditor's agent is required to acknowledge a written offer made in connection with a proposed short sale from a third party acting on behalf of the debtor only if the debtor has provided written authorization for the creditor, servicer, or creditor's agent to do so. Not later than thirty (30) business days (excluding legal public holidays, Saturdays, and Sundays) after receipt of an offer under this subsection, the creditor, servicer, or creditor's agent shall respond to the offer with an acceptance or a rejection of the offer. The thirty (30) day period described in this subsection may be extended for not more than fifteen (15) business days (excluding legal public holidays, Saturdays, and Sundays) if, before the end of the thirty (30) day period, the creditor, the servicer, or the creditor's agent notifies the debtor of the extension and the reason the extension is needed. Payment accepted by a creditor, servicer, or creditor's agent in connection with a short sale constitutes payment in full satisfaction of the mortgage transaction unless the creditor, servicer, or creditor's agent obtains either:

(1) a statement that: "The debtor remains liable for any amount still owed under the mortgage transaction."; or

(2) a statement substantially similar to the statement set forth in subdivision (1);

acknowledged by the initials or signature of the debtor, on or before the date on which the short sale payment is accepted. As used in this subsection, "short sale" means a transaction in which the property that is the subject of a mortgage transaction is sold for an amount that is less than the amount of the debtor's outstanding obligation under the mortgage transaction. A creditor or mortgage servicer that fails to respond to an offer within the time prescribed by this subsection is liable in accordance with 12 U.S.C. 2605(f) in any action brought under that section.

(e) This section is not intended to provide the owner of real estate subject to the issuance of process under a judgment or decree of foreclosure any protection or defense against a deficiency judgment for purposes of the borrower protections from liability that must be disclosed under 12 CFR 1026.38(p)(3) on the form required by 12 CFR 1026.38 ("Closing Disclosures" form under the Amendments to the 2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) and the 2013 Loan Originator Rule Under the Truth in Lending Act (Regulation Z)).

[Pre-2026 Revision Citation: 24-4.5-2-209.]

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

Sec. 37. "Payable in installments" means that payment is required or permitted by written agreement to be made in more than four (4) installments not including a down payment.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(32).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-26 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-26
Authorization to confess judgment prohibited
Status: in_force

Sec. 26. A buyer or lessee may not authorize any person to confess judgment on a claim arising out of a consumer credit sale or consumer lease. An authorization in violation of this section is void.

[Pre-2026 Revision Citation: 24-4.5-2-415.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-9 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-9
Territorial application; determination of residence; invalid agreements; violations; voiding of loan
Status: in_force

Sec. 9. (a) Except as otherwise provided in this section, this article applies to sales, leases, and loans made in this state and to modifications, including refinancings, consolidations, and deferrals, made in this state, of sales, leases, and loans, wherever made. For purposes of this article, the following apply:

(1) A sale or modification of a sale agreement is made in this state if the buyer's agreement or offer to purchase or to modify is received by the seller or a person acting on behalf of the seller in this state.

(2) A lease or modification of a lease agreement is made in this state if the lessee's agreement or offer to lease or to modify is received by the lessor or a person acting on behalf of the lessor in this state.

(3) A loan or modification of a loan agreement is made in this state if a writing signed by the debtor and evidencing the debt is received by the lender or a person acting on behalf of the lender in this state.

(4) Except as provided in subdivisions (5) and (6), a sale, lease, or loan transaction occurs in Indiana if a consumer who is a resident of Indiana enters into a consumer sale, lease, or loan transaction with a creditor or a person acting on behalf of the creditor in another state and the creditor or the person acting on behalf of the creditor has advertised or solicited sales, leases, or loans in Indiana by any means, including by mail, brochure, telephone, print, radio, television, the Internet, or electronic means.

(5) A sale, lease, or loan transaction does not occur in Indiana if a consumer who is a resident of Indiana enters into a consumer sale, lease, or loan transaction secured by an interest in land located outside Indiana.

(6) A sale, lease, or loan transaction does not occur in Indiana if a consumer who is a resident of Indiana enters into a consumer sale, lease, or loan transaction at a creditor's place of business in another state.

For purposes of subdivisions (1) through (4), an offer is received by a creditor or a person acting on behalf of the creditor in Indiana if the offer is physically delivered, or otherwise transmitted or communicated, to a person who has actual or apparent authority to act for the creditor or the person acting on behalf of the creditor in Indiana, regardless of whether approval, acceptance, or ratification by any other agent or representative of the creditor or the person acting on behalf of the creditor in another state is necessary to give legal consequence to the consumer credit transaction.

(b) IC 37-2-6-1 through IC 37-2-6-7 apply to actions or other proceedings brought in this state to enforce rights arising from consumer credit sales, consumer leases, or consumer loans, or extortionate extensions of credit, wherever made.

(c) Except as provided in subsection (b), a sale, lease, loan, or modification thereof, made in another state to a person who was not a resident of this state when the sale, lease, loan, or modification was made is valid and enforceable in this state according to its terms to the extent that it is valid and enforceable under the laws of the state applicable to the transaction.

(d) For the purposes of this article, the residence of a buyer, lessee, or debtor is the address given by the buyer, lessee, or debtor as the buyer's, lessee's, or debtor's residence in any writing or electronic communication made by the buyer, lessee, or debtor in connection with a credit transaction. Until the buyer, lessee, or debtor notifies the creditor or the person acting on behalf of the creditor of a new or different address, the given address is presumed to be unchanged.

(e) Notwithstanding other provisions of this section:

(1) except as provided in subsection (b), this article does not apply if the buyer, lessee, or debtor is not a resident of this state at the time of a credit transaction and the parties then agree that the law of the buyer's, lessee's, or debtor's residence applies; and

(2) this article applies if the buyer, lessee, or debtor is a resident of this state at the time of a credit transaction and the parties then agree that the law of this state applies.

(f) Except as provided in subsection (e), the following agreements by a buyer, lessee, or debtor are invalid with respect to consumer credit sales, consumer leases, consumer loans, or modifications thereof, to which this article applies:

(1) An agreement that the law of another state shall apply.

(2) An agreement that the buyer, lessee, or debtor consents to the jurisdiction of another state.

(3) An agreement that fixes venue.

(g) The following provisions of this article specify the applicable law governing certain cases:

(1) IC 37-2-7-1 (applicability of the provisions on powers and functions of the department).

(2) IC 37-2-7-24 (applicability of the provisions on notification and fees).

(h) If a creditor or a person acting on behalf of the creditor has violated the provisions of this article that apply to the authority to make consumer loans (IC 37-2-4-23), the loan is void and the debtor is not obligated to pay either the principal or loan finance charge, as set forth in IC 37-2-6-9.

[Pre-2026 Revision Citation: 24-4.5-1-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-33 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-33
Record keeping; use of unique identifier on forms and documents; use of examination and regulatory software; submitting call reports to NMLSR; composite reports; notice to department of certain events or changes
Status: in_force

Sec. 33. (a) Every creditor required to be licensed under this article shall maintain records in conformity with United States generally accepted accounting principles and practices, or in any other form that may be preapproved at the discretion of the director, in a manner that will enable the department to determine whether the licensee is complying with the provisions of this article. The record keeping system of a licensee shall be sufficient if the licensee makes the required information reasonably available. The department shall determine the sufficiency of the records and whether the licensee has made the required information reasonably available. The department shall be given free access to the records wherever located. The records pertaining to any loan shall be retained for two (2) years after making the final entry relating to the loan, but in the case of a revolving loan account the two (2) years is measured from the date of each entry. A person licensed or required to be licensed under this chapter is subject to IC 28-1-2-30.5 with respect to any records maintained by the person. A person that is exempt (either under this article or under IC 37-1-1-6(8)) from licensing and that sponsors one (1) or more licensed mortgage loan originators as permitted by IC 37-1-1-6(8) or by 750 IAC 9, shall:

(1) cooperate with the department; and

(2) provide access to records and documents;

as required by the department in carrying out examinations of the activities of the licensed mortgage loan originators sponsored by the person.

(b) The unique identifier of any person originating a mortgage transaction must be clearly shown on all mortgage transaction application forms and any other documents as required by the director.

(c) Every licensee that engages in mortgage transactions shall use automated examination and regulatory software designated by the director, including third party software. Use of the software consistent with guidance documents and policies issued by the director is not a violation of IC 28-1-2-30.

(d) Each:

(1) creditor that is licensed by the department to engage in mortgage transactions; and

(2) person that is exempt (either under this article or under IC 37-1-1-6(8)) from licensing and that:

(A) employs one (1) or more licensed mortgage loan originators; or

(B) sponsors one (1) or more licensed mortgage loan originators as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

shall submit to the NMLSR a call report, which must be in the form and contain information the NMLSR requires.

(e) Every creditor required to be licensed under this article shall file with the department a composite report as required by the department, but not more frequently than annually, in the form prescribed by the department relating to all consumer loans made by the licensee. The department shall consult with comparable officials in other states for the purpose of making the kinds of information required in the reports uniform among the states. Information contained in the reports shall be confidential and may be published only in composite form. The department may impose a fee in an amount fixed by the department under IC 28-11-3-5 for each day that a creditor fails to file the report required by this subsection.

(f) A creditor required to be licensed under this article shall file notification with the department if the licensee:

(1) has a change in name, address, or principals;

(2) opens a new branch, closes an existing branch, or relocates an existing branch;

(3) files for bankruptcy or reorganization; or

(4) is subject to revocation or suspension proceedings by a state or governmental authority with regard to the licensee's activities;

not later than thirty (30) days after the date of the event described in this subsection.

(g) Every licensee shall file notification with the department if the licensee or any director, executive officer, or manager of the licensee has been convicted of a felony under the laws of Indiana or any other jurisdiction. The licensee shall file the notification required by this subsection not later than thirty (30) days after the date of the event described in this subsection.

[Pre-2026 Revision Citation: 24-4.5-3-505.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-5-4 — Indiana Code / Title 37 / Article 4 / Chapter 5 / Section 37-4-5-4
Indiana housing and community development authority; list of nonprofit organizations
Status: in_force

Sec. 4. (a) The Indiana housing and community development authority shall maintain a list of nonprofit organizations that:

(1) offer counseling or advice to homeowners in foreclosure or loan defaults; and

(2) do not contract for services with for-profit lenders or foreclosure purchasers.

(b) The Indiana housing and community development authority shall provide names and telephone numbers of the organizations described in subsection (a) to a homeowner upon request.

[Pre-2026 Revision Citation: 24-5.5-6-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-10 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-10
Civil liability for violation of disclosure provisions
Status: in_force

Sec. 10. (a) Except as otherwise provided in this section, a creditor who, in violation of the provisions on disclosure in IC 37-2-3-13 and IC 37-2-4-14, fails to disclose information to a person entitled to the information under this article is liable to that person in an amount equal to the sum of:

(1) the following:

(A) In the case of an individual action, twice the amount of the credit service or loan finance charge in connection with the transaction, but the liability pursuant to this subdivision shall be not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000).

(B) In the case of a class action, an amount the court allows, except that as to each member of the class no minimum recovery is applicable, and the total recovery under this subdivision in any class action or series of class actions arising out of the same failure to comply by the same creditor may not be more than the lesser of:

(i) five hundred thousand dollars ($500,000); or

(ii) one percent (1%) of the net worth of the creditor.

(2) In the case of a successful action to enforce the liability under subdivision (1), the costs of the action together with reasonable attorney's fees as determined by the court. In determining the amount of the award in a class action, the court shall consider, among other relevant factors, the amount of any award granted under the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.), the frequency and persistence of failures of compliance by the creditor, the resources of the creditor, the number of persons adversely affected, and the extent to which the creditor's failure of compliance was intentional.

(b) A creditor has no liability under this section if within sixty (60) days after discovering an error, and prior to the institution of an action under this section or the receipt of written notice of the error, the creditor notifies the person concerned of the error and makes whatever adjustments in the appropriate account are necessary to assure that the person will not be required to pay a credit service charge or loan finance charge in excess of the amount or percentage rate actually disclosed.

(c) A creditor may not be held liable in any action brought under this section for a violation of this article if the creditor shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid the error.

(d) If there are multiple obligors in a consumer credit transaction or consumer lease, there may not be more than one (1) recovery of damages under subsection (a)(1) for one (1) violation of this article with respect to that consumer credit transaction or consumer lease.

(e) The multiple failure to disclose to any person any information required under this article to be disclosed in connection with a single account under an open end consumer credit plan, a single consumer credit sale, a consumer loan, a consumer lease, or another extension of consumer credit entitles that person to a single recovery under this section. However, continued failure to disclose after a recovery has been granted gives rise to rights to additional recoveries.

(f) Any action which may be brought under this section against the original creditor in any credit transaction involving a security interest in land may be maintained against any subsequent assignee of the original creditor where the assignee, its subsidiaries, or affiliates were in a continuing business relationship with the original creditor either at the time the credit was extended or at the time of the assignment, unless the assignment was involuntary, or the assignee shows by a preponderance of evidence that it did not have reasonable grounds to believe that the original creditor was engaged in violations of this article, and that it maintained procedures reasonably adapted to apprise it of the existence of the violations.

(g) No action pursuant to this section may be brought more than one (1) year after the date of the occurrence of the violations.

(h) In this section, creditor includes a person who in the ordinary course of business regularly extends or arranges for the extension of credit, or offers to arrange for the extension of credit.

[Pre-2026 Revision Citation: 24-4.5-5-203.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-5-4 — Indiana Code / Title 37 / Article 5 / Chapter 5 / Section 37-5-5-4
Liability for violation; exceptions; damages; equitable relief; recoupment; action by homeowner protection unit for deceptive act; statute of limitations; priority of damages over civil penalties
Status: in_force

Sec. 4. (a) This section does not apply to a violation of IC 37-5-3-7(c)(4), IC 37-5-3-7(c)(5), or IC 37-5-3-7(c)(6). A person who violates this article is liable to a person who is a party to the home loan transaction, mortgage transaction (as defined in IC 37-5-3-7(a)), or real estate transaction (as defined in IC 37-5-3-7(b)), as appropriate, that gave rise to the violation for the following:

(1) Actual damages, including consequential damages. A person is not required to demonstrate reliance in order to receive actual damages.

(2) Statutory damages equal to two (2) times the finance charges agreed to in a home loan agreement.

(3) Costs and reasonable attorney's fees.

(b) A person may be granted injunctive, declaratory, and other equitable relief as the court determines appropriate in an action to enforce compliance with this chapter.

(c) The right of rescission granted under 15 U.S.C. 1601 et seq. for a violation of the federal Truth in Lending Act (15 U.S.C. 1601 et seq.) is available to a person acting only in an individual capacity by way of recoupment as a defense against a party foreclosing on a home loan at any time during the term of the loan. Any recoupment claim asserted under this provision is limited to the amount required to reduce or extinguish the person's liability under the home loan plus amounts required to recover costs, including reasonable attorney's fees. This article shall not be construed to limit the recoupment rights available to a person under any other law.

(d) The remedies provided in this section are cumulative but are not intended to be the exclusive remedies available to a person. Except as provided in subsection (e), a person is not required to exhaust any administrative remedies under this article or under any other applicable law.

(e) Before bringing an action regarding an alleged deceptive act under this chapter, a person must:

(1) notify the homeowner protection unit established by IC 4-6-12-2 of the alleged violation giving rise to the action; and

(2) allow the homeowner protection unit at least ninety (90) days to institute appropriate administrative and civil action to redress a violation.

(f) An action under this chapter must be brought within five (5) years after the date that the person knew, or by the exercise of reasonable diligence should have known, of the violation of this article.

(g) An award of damages under subsection (a) has priority over a civil penalty imposed under this article.

[Pre-2026 Revision Citation: 24-9-5-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-23 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-23
Notice of assignment
Status: in_force

Sec. 23. The buyer or lessee is authorized to pay the original seller or lessor until the buyer or lessee receives notification of assignment of the rights to payment pursuant to a consumer credit sale or consumer lease and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested by the buyer or lessee, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless the assignee does so the buyer or lessee may pay the seller or lessor.

[Pre-2026 Revision Citation: 24-4.5-2-412.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-4-7 — Indiana Code / Title 37 / Article 5 / Chapter 4 / Section 37-5-4-7
Counseling agency contact information
Status: in_force

Sec. 7. A creditor may not make a high cost home loan without first providing the borrower information to facilitate contact with a nonprofit counseling agency certified by:

(1) the United States Department of Housing and Urban Development; or

(2) the Indiana housing and community development authority under IC 5-20-1-4(d);

at the same time as the good faith estimates are provided to the borrower in accordance with the requirements of the federal Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) as amended.

[Pre-2026 Revision Citation: 24-9-4-7.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-45.3 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-45.3
"Sale of goods"
Status: in_force

Sec. 45.3. "Sale of goods" includes any agreement in the form of a bailment or lease of goods if the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the goods involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the goods upon full compliance with the bailee's or the lessee's obligations under the agreement.

[Pre-2026 Revision Citation: 24-4.5-2-105(4).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-17 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-17
Cancellation by creditor
Status: in_force

Sec. 17. A creditor shall not request cancellation of a policy of property or liability insurance except after the debtor's default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delivered to the debtor or mailed to the debtor at the debtor's address as stated by the debtor. The notice shall state that the policy may be canceled on a date not less than ten (10) days after the notice is delivered, or, if the notice is mailed, not less than thirteen (13) days after it is mailed.

[Pre-2026 Revision Citation: 24-4.5-4-304.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-5-1 — Indiana Code / Title 37 / Article 4 / Chapter 5 / Section 37-4-5-1
Violations; deceptive act; Class A misdemeanor
Status: in_force

Sec. 1. A person who knowingly or intentionally violates this article commits:

(1) a Class A misdemeanor;

(2) a deceptive act that is actionable by the attorney general under IC 24-5-0.5-4 and is subject to the penalties and remedies available to the attorney general under IC 24-5-0.5; and

(3) a deceptive act that is actionable by the attorney general under IC 37-5-8-2 and is subject to the penalties and remedies available to the attorney general under IC 37-5.

[Pre-2026 Revision Citation: 24-5.5-6-1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-20 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-20
Authorization to confess judgment prohibited
Status: in_force

Sec. 20. A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void.

[Pre-2026 Revision Citation: 24-4.5-3-407.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-7 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-7
Applicability of laws governing administrative orders and rules; venue; rules
Status: in_force

Sec. 7. Except as otherwise provided, IC 4-21.5-3 governs all agency action taken by the department under this chapter or IC 37-2-4-22 through IC 37-2-4-39. All proceedings for administrative review under IC 4-21.5-3 or judicial review under IC 4-21.5-5 shall be held in Marion County. The provisions of IC 4-22-2 prescribing procedures for the adoption of rules by agencies apply to the adoption of rules by the department of financial institutions under this article.

[Pre-2026 Revision Citation: 24-4.5-6-107.]

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

Sec. 2. The definitions set forth in this chapter apply throughout this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-13 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-13
"Total loan amount"
Status: in_force

Sec. 13. "Total loan amount" means the principal of the home loan minus the points and fees that are included in the principal amount of the loan.

[Pre-2026 Revision Citation: 24-9-2-13.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-15 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-15
"Creditor"
Status: in_force

Sec. 15. "Creditor" means a person:

(1) who regularly engages in the extension of consumer credit that is subject to a credit service charge or loan finance charge, as applicable, or is payable by written agreement in more than four (4) installments (not including a down payment); and

(2) to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is not a note or contract.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(11).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-1-0.5 — Indiana Code / Title 37 / Article 5 / Chapter 1 / Section 37-5-1-0.5
Documents, websites, or business communications created under prior law
Status: in_force

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-9 (before its repeal) is considered a document, website, or business communication created in accordance with this article.

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-1 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-1
Licensing system for creditors and mortgage loan originators; rules; federal law
Status: in_force

Sec. 1. Notwithstanding any other provision of this article or IC 37-2, the department may adopt rules under IC 4-22-2, to remain effective until codified in the Indiana Code, in order to provide for a system of licensing creditors and mortgage loan originators that meets the requirements of:

(1) the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (H.R. 3221 Title V) and the interpretations of that Act issued by the Secretary of Housing and Urban Development and the Consumer Financial Protection Bureau; and

(2) the subsequent amendment of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 by the Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174, 132 Stat. 1296).

[Pre-2026 Revision Citation: 24-4.4-1-101(b).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-2.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-2.5
"Amount financed"
Status: in_force

Sec. 2.5. "Amount financed" means the total of the following to the extent that payment is deferred:

(1) The cash price of the goods, services, or interest in land less the amount of down payment whether made in cash or property.

(2) The amount actually paid or to be paid by the seller pursuant to an agreement with the buyer to discharge a security interest or lien on property traded in.

(3) If not included in the cash price:

(A) any applicable sales, use, excise or documentary fees;

(B) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees; and

(C) additional charges permitted by IC 37-2-3-5.

[Pre-2026 Revision Citation: 24-4.5-2-111.]

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