Ind. Code § 37-5-3-9 — Indiana Code / Title 37 / Article 5 / Chapter 3 / Section 37-5-3-9
Prohibited discrimination
Status: in_force

Sec. 9. It is unlawful for a creditor to discriminate against any applicant with respect to any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, or age, if the applicant has the ability to contract.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-25 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-25
"Loan processor or underwriter"
Status: in_force

Sec. 25. "Loan processor or underwriter" means an individual who performs clerical or support duties as an employee at the direction of, and subject to the supervision and instruction of, a person licensed to engage in mortgage transactions or a person exempt from licensing. For purposes of this section, the term "clerical or support duties" may include, after the receipt of an application, the following:

(1) The receipt, collection, distribution, and analysis of information common for the processing or underwriting of a mortgage transaction.

(2) The communication with a consumer to obtain the information necessary for the processing or underwriting of a loan, to the extent that the communication does not include:

(A) offering or negotiating loan rates or terms; or

(B) counseling consumers about mortgage transaction rates or terms.

The term does not include an individual who is an employee of a person that is not engaged in mortgage transactions as a creditor if that person is permitted to voluntarily register with the department to sponsor the individual under IC 37-1-1-6(8) to engage solely in the activities described in this subdivision.

[Pre-2026 Revision Citation: 24-4.4-1-301(20).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-10 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-10
Conversion to revolving loan account
Status: in_force

Sec. 10. The parties may agree to add to a revolving loan account the unpaid balance of a consumer loan, not made pursuant to a revolving loan account, or a refinancing, or consolidation thereof, or the unpaid balance of a consumer credit sale, refinancing or consolidation. For the purpose of this section:

(1) the unpaid balance of a consumer loan, refinancing, or consolidation is an amount equal to the principal determined according to the provisions on refinancing set forth in section 8 of this chapter; and

(2) the unpaid balance of a consumer credit sale, refinancing, or consolidation is an amount equal to the amount financed determined according to the provisions on refinancing set forth in IC 37-2-3-8.

[Pre-2026 Revision Citation: 24-4.5-3-207.]

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

Sec. 3. "Agreement" means the bargain of the parties in fact as found in their language or by implication from other circumstances, including course of dealing or usage of trade or course of performance.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(2).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-4-4 — Indiana Code / Title 37 / Article 4 / Chapter 4 / Section 37-4-4-4
Foreclosure purchasers; duties to homeowners
Status: in_force

Sec. 4. A foreclosure purchaser shall:

(1) ensure that title to real property has been reconveyed to the homeowner in a timely manner if the terms of a foreclosure reconveyance agreement require a reconveyance; or

(2) if the real property subject to a foreclosure reconveyance agreement is sold within eighteen (18) months after entering into the foreclosure reconveyance agreement, make payment to the homeowner not later than ninety (90) days after the resale of the real property in an amount equal to at least sixty-six percent (66%) of the net proceeds from the resale of the property.

[Pre-2026 Revision Citation: 24-5.5-5-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-16 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-16
Restriction on liability in consumer lease
Status: in_force

Sec. 16. The obligation of a lessee upon expiration of a consumer lease may not exceed three (3) times the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property or for other default.

[Pre-2026 Revision Citation: 24-4.5-2-406.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-16 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-16
"Employee"
Status: in_force

Sec. 16. "Employee" means an individual who is paid wages or other compensation by an employer required under federal income tax law to file Form W-2 on behalf of the individual.

[Pre-2026 Revision Citation: 24-4.4-1-301(12).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-13.3 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-13.3
"Consumer related loan"
Status: in_force

Sec. 13.3. "Consumer related loan" refers to a loan in which the following apply:

(1) The loan is made by a person who is not regularly engaged as a lender in credit transactions of the same kind.

(2) The debtor is a person other than an organization.

(3) The debt is primarily for a personal, family, or household purpose.

(4) Either the debt is payable in installments or a loan finance charge is made.

(5) Either:

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

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

[Pre-2026 Revision Citation: 24-4.5-3-602(1).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-19 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-19
Consent agreement; notice of charges not required
Status: in_force

Sec. 19. If the director enters into a consent to a final order with a director, an officer, or a manager, the director is not required to issue and serve a notice of charges upon the director, officer, or manager under section 17 of this chapter. A consent agreement may be negotiated and entered into before or after the issuance of a notice of charges. The director shall provide a copy of the consent order to the board of directors of the creditor.

[Pre-2026 Revision Citation: 24-4.5-6-121.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-20 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-20
Final order; penalties; time for issuance; consent presumed upon failure to appear
Status: in_force

Sec. 20. (a) Subject to section 18 of this chapter, if, after a hearing described in section 18(b) of this chapter, the department determines that a director, an officer, or a manager of a creditor has committed an act described in section 17 of this chapter, the department may issue a final order. If a hearing is not requested within the time specified in section 18(b) of this chapter, the director may issue a final order on the basis of the facts set forth in the written notice served under section 18(a) of this chapter.

(b) Unless the director has entered into a consent agreement described in section 19 of this chapter, a final order must include separately stated findings of fact and conclusions of law for all aspects of the order.

(c) In a final order under this section, the department or the director, as appropriate, may order one (1) or more of the following with respect to an officer, a director, or a manager of a creditor:

(1) The removal of the officer, director, or manager from the person's office, position, or employment.

(2) A prohibition against any participation by the officer, director, or manager in the conduct of the affairs of any creditor.

(3) If the subject of the order is an officer or a director of a creditor, and subject to section 22 of this chapter, the imposition of a civil penalty not to exceed fifteen thousand dollars ($15,000) for each practice, violation, or act that:

(A) is described in section 17 of this chapter; and

(B) is found to exist by the department or the director.

(d) A final order shall be issued in writing not later than ninety (90) days after conclusion of a hearing held under section 18(b) of this chapter, unless this period is waived or extended with the written consent of all parties or for good cause shown.

(e) If the officer, director, or manager does not appear individually or by an authorized representative at a hearing held under section 18(b) of this chapter, the officer, director, or manager is considered to have consented to the issuance of a final order.

(f) The director may keep a final order confidential if the director determines that the immediate release of the order would endanger the stability of the creditor. However, after two (2) years following the date that an order is issued, a final order is no longer confidential.

(g) The remedies provided in this chapter are in addition to other remedies contained in this article.

[Pre-2026 Revision Citation: 24-4.5-6-122.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-22 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-22
Persons also engaging in activities of a loan broker; examination by department; cooperation with securities division
Status: in_force

Sec. 22. (a) If a person licensed or required to be licensed under section 24 of this chapter also engages in activities of a loan broker described in IC 23-2.5, the activities of a loan broker are subject to the following sections of the Indiana Code and any rules adopted to implement these sections:

(1) IC 23-2.5-8-1, except for IC 23-2.5-8-1(b)(2).

(2) IC 23-2.5-8-2.

(3) IC 23-2.5-11-15(b) and IC 23-2.5-11-15(c).

(4) IC 23-2.5-11-17.

(5) IC 23-2.5-8-3.

(6) IC 23-2.5-8-4 through IC 23-2.5-8-9.

(7) IC 23-2.5-8-10.

(8) IC 23-2.5-10-1.

(9) IC 23-2.5-9-1.

(10) IC 23-2.5-11-16.

(b) Loan broker business transactions engaged in by persons licensed or required to be licensed under section 24 of this chapter are subject to examination by the department and to the examination fees described in section 26(h)(2) of this chapter. The department may cooperate with the securities division of the office of the secretary of state in the department's examination of loan broker business transactions and may use the securities division's examiners to conduct examinations.

[Pre-2026 Revision Citation: 24-4.5-3-501.5.]

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

Sec. 4. "Consecutive small loan" means a new small loan agreement that the lender enters with the same borrower not later than seven (7) calendar days after a previous small loan made to that borrower is paid in full.

[Pre-2026 Revision Citation: 24-4.5-7-108.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-12 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-12
Right to prepay; prepayment penalty; total finance charge; payoff statement; liability for failure to provide; short sales; foreclosed property; no protection from deficiency judgment
Status: in_force

Sec. 12. (a) Subject to the provisions on rebate upon prepayment set forth in section 13 of this chapter, the debtor may prepay in full the unpaid balance of a consumer loan, refinancing, or consolidation at any time without penalty. With respect to a consumer loan that is primarily secured by an interest in land, a lender may contract for a penalty for prepayment of the loan in full, not to exceed two percent (2%) of any amount prepaid within sixty (60) days of the date of the prepayment in full, after deducting all refunds and rebates as of the date of the prepayment. However, the penalty may not be imposed:

(1) if the loan is refinanced or consolidated with the same creditor;

(2) for prepayment by proceeds of any insurance or acceleration after default; or

(3) after three (3) years from the contract date.

For purposes of this section, the collection of the amount of any conditionally waived closing costs (as allowed under section 5 of this chapter) by a creditor, as stipulated in the loan agreement, at the time of prepayment in full does not constitute a prepayment penalty and is not subject to the limitations set forth in this subsection.

(b) At the time of prepayment of a consumer loan not subject to the provisions of rebate upon prepayment set forth in section 13 of this chapter, the total finance charge, including the prepaid finance charge but excluding the nonrefundable prepaid finance charge allowed under section 4(i) or section 35(h) of this chapter, as applicable, may not exceed the maximum charge allowed under this chapter for the period the loan was in effect. For the purposes of determining compliance with this subsection, the total finance charge does not include the following:

(1) The nonrefundable prepaid finance charge allowed under section 4(i) or section 35(h) of this chapter, as applicable.

(2) The debtor paid mortgage broker fee, if any, paid to a person who does not control, is not controlled by, or is not under common control with, the creditor holding the loan at the time a consumer loan is prepaid.

(c) The creditor or mortgage servicer shall provide, in writing, an accurate payoff amount for the consumer loan 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 loan 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 loan payoff amount is liable for:

(1) one hundred dollars ($100) if an accurate consumer loan 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 loan finance charge that accrues on the loan from the date the creditor or mortgage servicer receives the first written request until the date on which the accurate consumer loan payoff amount is provided;

if an accurate consumer loan 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 loan 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: 24-4.5-3-209.]

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

Sec. 17. "Director" means the director of the department of financial institutions or the director's designee.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(13).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-15 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-15
Final order; penalties; time for issuance; consent presumed upon failure to appear
Status: in_force

Sec. 15. (a) If, after a hearing described in section 13(b) of this chapter, the department finds that the conditions specified in section 12 of this chapter have been established, the department may issue a final order. If a hearing is not requested within the time specified in section 13(b) of this chapter, the director may issue a final order on the basis of the facts set forth in the written notice served under section 12(a) of this chapter.

(b) Unless the director has entered into a consent agreement described in section 14 of this chapter, a final order must include separately stated findings of fact and conclusions of law for all aspects of the order.

(c) In a final order under this section, the department or the director, as appropriate, may order one (1) or more of the following with respect to an officer, a director, or a manager of a creditor:

(1) The removal of the officer, director, or manager from the person's office, position, or employment.

(2) A prohibition against any participation by the officer, director, or manager in the conduct of the affairs of any creditor.

(3) If the subject of the order is an officer or a director of a creditor, and subject to section 17 of this chapter, the imposition of a civil penalty not to exceed fifteen thousand dollars ($15,000) for each practice, violation, or act that:

(A) is described in section 12 of this chapter; and

(B) is found to exist by the department or the director.

(d) A final order shall be issued in writing not later than ninety (90) days after conclusion of a hearing held under section 13(b) of this chapter, unless this period is waived or extended with the written consent of all parties or for good cause shown.

(e) If the officer, director, or manager does not appear individually or by an authorized representative at a hearing held under section 13(b) of this chapter, the officer, director, or manager is considered to have consented to the issuance of a final order.

(f) The remedies provided in this chapter are in addition to other remedies contained in this article.

[Pre-2026 Revision Citation: 24-4.4-2-404.4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-3 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-3
Violation of state or federal law, regulation, or rule; enforcement
Status: in_force

Sec. 3. (a) A violation of a state or federal law, regulation, or rule applicable to first lien mortgage transactions is a violation of this article.

(b) The department may enforce penalty provisions set forth in 15 U.S.C. 1640 for violations of disclosure requirements applicable to first lien mortgage transactions.

[Pre-2026 Revision Citation: 24-4.4-2-301.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-24 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-24
Applicability of notification requirements and fees
Status: in_force

Sec. 24. (a) This section and sections 25 and 26 of this chapter apply to a person, including a depository institution, but not including a collection agency licensed under IC 25-11-1, engaged in Indiana in any of the following:

(1) Making consumer credit sales, consumer leases, or consumer loans.

(2) Taking assignments of rights against debtors that arise from sales, leases, or loans by a person having an office or a place of business in Indiana.

(3) Undertaking direct collection of payments from the debtors or enforcement of rights against the debtors.

(4) Placing consumer credit insurance, receiving commissions for consumer credit insurance, or acting as a limited line credit insurance producer in the sale of consumer credit insurance.

(5) Selling insurance or other benefits, the charges for which are approved by the department as additional charges under IC 37-2-3-5 or IC 37-2-4-5.

(b) This section and sections 25 and 26 of this chapter are not applicable to a seller whose credit sales consist entirely of sales made pursuant to a seller credit card issued by a person other than the seller if the issuer of the card has complied with the provisions of this section and sections 25 and 26 of this chapter.

(c) This section and sections 25 and 26 of this chapter apply to a seller whose credit sales are made using credit cards that:

(1) are issued by a lender;

(2) are in the name of the seller; and

(3) can be used by the buyer or lessee only for purchases or leases at locations of the named seller.

[Pre-2026 Revision Citation: 24-4.5-6-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-1-1 — Indiana Code / Title 37 / Article 3 / Chapter 1 / Section 37-3-1-1
Applicability; authority to make, take assignment of, or collect small loans; license required; application; separate license required for activities involving consumer loans
Status: in_force

Sec. 1. (a) Except as otherwise provided, all provisions of IC 37-2 applying to consumer loans, including IC 37-2-4-25, apply to small loans.

(b) Subject to section 4 of this chapter, a person may not regularly engage in Indiana in any of the following actions unless the department first issues to the person a license under this article:

(1) The making of small loans.

(2) Taking assignments of small loans.

(3) Undertaking the direct collection of payments from or the enforcement of rights against debtors arising from small loans.

(c) Subject to section 4 of this chapter, a person that seeks licensure under this article:

(1) shall apply to the department for a license in the form and manner prescribed by the department; and

(2) is subject to the same licensure requirements and procedures as an applicant for a license to make consumer loans (other than mortgage transactions) under IC 37-2-4-23.

(d) A person that seeks to make, take assignments of, or undertake the direct collection of payments from or the enforcement of rights against debtors arising from both:

(1) small loans under this chapter; and

(2) consumer loans (other than mortgage transactions) that are not small loans;

must obtain a separate license from the department for each type of loan, as described in IC 37-2-4-23(e).

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

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

Sec. 12. A lender making small loans, or an assignee of a small loan, shall not commit nor cause to be committed any of the following acts:

(1) Threatening to use or using the criminal process in any state to collect on a small loan.

(2) Threatening to take action against a borrower that is prohibited by this chapter.

(3) Making a misleading or deceptive statement regarding a small loan or a consequence of taking a small loan.

(4) Contracting for or collecting attorney's fees on small loans made under this chapter.

(5) Altering the date or any other information on a check or an authorization to debit the borrower's account held as security.

(6) Using a device or agreement that the department determines would have the effect of charging or collecting more fees, charges, or interest than allowed by this chapter, including, but not limited to:

(A) entering a different type of transaction with the borrower;

(B) entering into a sales/leaseback arrangement;

(C) catalog sales;

(D) entering into transactions in which a customer receives a purported cash rebate that is advanced by someone offering Internet content services, or some other product or service, when the cash rebate does not represent a discount or an adjustment of the purchase price for the product or service; or

(E) entering any other transaction with the borrower that is designed to evade the applicability of this chapter.

(7) Engaging in unfair, deceptive, or fraudulent practices in the making or collecting of a small loan.

(8) Charging to cash a check representing the proceeds of a small loan.

(9) Except as otherwise provided in this chapter:

(A) accepting the proceeds of a new small loan as payment of an existing small loan provided by the same lender; or

(B) renewing, refinancing, or consolidating a small loan with the proceeds of another small loan made by the same lender.

(10) Including any of the following provisions in a loan document:

(A) A hold harmless clause.

(B) A confession of judgment clause.

(C) A mandatory arbitration clause, unless the terms and conditions of the arbitration have been approved by the director of the department.

(D) An assignment of or order for payment of wages or other compensation for services.

(E) A provision in which the borrower agrees not to assert a claim or defense arising out of contract.

(F) A waiver of any provision of this chapter.

(11) Selling insurance of any kind in connection with the making or collecting of a small loan.

(12) Entering into a renewal with a borrower.

[Pre-2026 Revision Citation: 24-4.5-7-410.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-3 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-3
Department's examination and investigatory authority; record retention; director's authority to control access to records; court order compelling compliance; confidentiality; costs; vendors
Status: in_force

Sec. 3. (a) In administering this article and in order to determine whether the provisions of this article are being complied with by persons engaging in acts subject to this article, the department may examine the records of persons and may make investigations of persons as may be necessary to determine compliance. Records subject to examination under this section include the following:

(1) Training, operating, and policy manuals.

(2) Minutes of:

(A) management meetings; and

(B) other meetings.

(3) Financial records, credit files, and data bases.

(4) Other records that the department determines are necessary to perform its investigation or examination.

The department may also administer oaths or affirmations, subpoena witnesses, and compel the attendance of witnesses, including officers, principals, mortgage loan originators, employees, independent contractors, agents, and customers of licensees, and other individuals or persons subject to this article. The department may also adduce evidence and require the production of any matter that is relevant to an investigation. The department shall determine the sufficiency of the records maintained and whether the person has made the required information reasonably available. The records concerning any transaction subject to this article shall be retained for two (2) years after the making of the final entry relating to the first lien mortgage transaction, but in the case of a revolving first lien mortgage transaction the two (2) year period is measured from the date of each entry.

(b) The department's examination and investigatory authority under this article includes the following:

(1) The authority to require a creditor to refund overcharges resulting from the creditor's noncompliance with the terms of a first lien mortgage transaction.

(2) The authority to require a creditor to comply with the penalty provisions set forth in IC 37-1-3-1.

(3) The authority to investigate complaints filed with the department by debtors.

(c) The department shall be given free access to the records wherever the records are located. In making any examination or investigation authorized by this article, the director may control access to any documents and records of the licensee or person under examination or investigation. The director may take possession of the documents and records or place a person in exclusive charge of the documents and records in the place where the documents are usually kept. During the period of control, a licensee or person may not remove or attempt to remove any of the documents and records except under a court order or with the consent of the director. Unless the director has reasonable grounds to believe the documents or records of the licensee or person have been, or are, at risk of being altered or destroyed for purposes of concealing a violation of this article, the licensee or person shall have access to the documents or records as necessary to conduct the licensee's or person's ordinary business affairs. If the person's records are located outside Indiana, the records shall be made available to the department at a convenient location within Indiana, or the person shall pay the reasonable and necessary expenses for the department or the department's representative to examine the records where they are maintained. The department may designate comparable officials of the state in which the records are located to inspect the records on behalf of the department.

(d) Upon a person's failure without lawful excuse to obey a subpoena or to give testimony and upon reasonable notice by the department to all affected persons, the department may apply to any civil court with jurisdiction for an order compelling compliance.

(e) The department shall not make public:

(1) the name or identity of a person whose acts or conduct the department investigates under this section; or

(2) the facts discovered in the investigation.

However, this subsection does not apply to civil actions or enforcement proceedings under this article.

(f) To discover violations of this article or to secure information necessary for the enforcement of this article, the department may investigate any:

(1) licensee; or

(2) person that the department suspects to be operating:

(A) without a license, when a license is required under this article; or

(B) otherwise in violation of this article.

The department has all investigatory and enforcement authority under this article that the department has under IC 28-11 with respect to financial institutions. If the department conducts an investigation under this section, the licensee or other person investigated shall pay all reasonably incurred costs of the investigation in accordance with the fee schedule adopted under IC 28-11-3-5. Any costs required to be paid under this section shall be paid not later than sixty (60) days after the person being assessed the costs receives a notice from the department of the costs assessed. The department may impose a fee, in an amount fixed by the department under IC 28-11-3-5, for each day the assessed costs are not paid, beginning on the first day after the sixty (60) day period described in this subsection.

(g) If a creditor contracts with an outside vendor to provide a service that would otherwise be undertaken internally by the creditor and be subject to the department's routine examination procedures, the person that provides the service to the creditor shall, at the request of the director, submit to an examination by the department. If the director determines that an examination under this subsection is necessary or desirable, the examination may be made at the expense of the person to be examined. If the person to be examined under this subsection refuses to permit the examination to be made, the director may order any creditor that is licensed by the department to engage in mortgage transactions and that receives services from the person refusing the examination to:

(1) discontinue receiving one (1) or more services from the person; or

(2) otherwise cease conducting business with the person.

[Pre-2026 Revision Citation: 24-4.4-3-104.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-11 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-11
Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds
Status: in_force

Sec. 11. (a) A violation by a creditor of Section 125 of the Consumer Credit Protection Act concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of this article. A creditor may not accrue interest during the period when a consumer loan may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).

(b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of:

(1) the date the creditor is reasonably satisfied that the consumer has not rescinded the transaction; or

(2) the first business day after the expiration of the rescission period under subsection (a).

[Pre-2026 Revision Citation: 24-4.5-5-204.]

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

Sec. 3. (a) A creditor making a high cost home loan that has the right to foreclose must use the judicial foreclosure procedures of the state in which the property securing the high cost home loan is located. The borrower has the right to assert in the proceeding the nonexistence of a default and any other claim or defense to acceleration and foreclosure, including any claim or defense based on any violations of this article.

(b) This section is not intended and shall not be construed to allow any claim or defense otherwise barred by any statute of limitation or repose.

[Pre-2026 Revision Citation: 24-9-5-3.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-3-1 — Indiana Code / Title 37 / Article 5 / Chapter 3 / Section 37-5-3-1
Financing of certain premiums, penalties, and fees prohibited
Status: in_force

Sec. 1. (a) A creditor making a home loan may not finance, directly or indirectly, any:

(1) credit life insurance;

(2) credit disability insurance;

(3) credit unemployment insurance;

(4) credit property insurance; or

(5) payments directly or indirectly for any cancellation suspension agreement or contract.

(b) Insurance premiums, debt cancellation fees, or suspension fees calculated and paid on a monthly basis are not considered to be financed by the creditor for purposes of this chapter.

[Pre-2026 Revision Citation: 24-9-3-1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-1-3 — Indiana Code / Title 37 / Article 3 / Chapter 1 / Section 37-3-1-3
Applicability to loans other than small loans; loan finance charge
Status: in_force

Sec. 3. A loan that:

(1) does not qualify as a small loan under IC 37-3-2-10;

(2) is for a term shorter than that specified in IC 37-3-3-5(a); or

(3) is made in violation of section IC 37-3-3-2, IC 37-3-3-5, IC 37-3-3-6, IC 37-3-3-8, or IC 37-3-3-12;

is subject to this article. The department may conform the loan finance charge for a loan described in this section to the limitations set forth in IC 37-2-4-35(b).

[Pre-2026 Revision Citation: 24-4.5-7-102(6).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-18 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-18
Refund of unearned premium for property insurance upon payment of loan
Status: in_force

Sec. 18. Upon the payment in full of a consumer credit sale or consumer loan, the creditor or creditor's assignee shall promptly make an appropriate refund of the unearned premium for any property insurance with respect to which the creditor or the credit account of the consumer is a beneficiary.

[Pre-2026 Revision Citation: 24-4.5-4-305.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-9 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-9
Effect of violations on rights of parties
Status: in_force

Sec. 9. (a) If a creditor has violated the provision of this article applying to limitations on the schedule of payments or loan term for supervised loans (IC 37-2-4-38), the debtor is not obligated to pay the loan finance charge, and has a right to recover from the person violating this article or from an assignee of that person's rights who undertakes direct collection of payments or enforcement of rights arising from the debt a penalty in an amount determined by the court not in excess of three times the amount of the loan finance charge. No action pursuant to this subsection may be brought more than one (1) year after the due date of the last scheduled payment of the agreement with respect to which the violation occurred.

(b) If a creditor has violated the provisions of this article applying to 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. If the debtor has paid any part of the principal or of the loan finance charge, the debtor has a right to recover the payment from the person violating this article or from an assignee of that person's rights who undertakes direct collection of payments or enforcement of rights arising from the debt. With respect to violations arising from loans made pursuant to revolving loan accounts, no action pursuant to this subsection may be brought more than two (2) years after the violation occurred. With respect to violations arising from other loans, no action pursuant to this subsection may be brought more than one (1) year after the due date of the last scheduled payment of the agreement pursuant to which the charge was paid.

(c) A debtor is not obligated to pay a charge in excess of that allowed by this article, and if the debtor has paid an excess charge the debtor has a right to a refund. A refund may be made by reducing the debtor's obligation by the amount of the excess charge. If the debtor has paid an amount in excess of the lawful obligation under the agreement, the debtor may recover the excess amount from the person who made the excess charge or from an assignee of that person's rights who undertakes direct collection of payments from or enforcement of rights against debtors arising from the debt.

(d) If a debtor is entitled to a refund and a person liable to the debtor refuses to make a refund within a reasonable time after demand, the debtor may recover from that person a penalty in an amount determined by a court not exceeding the greater of either the amount of the credit service or loan finance charge or ten (10) times the amount of the excess charge. If the creditor has made an excess charge in deliberate violation of or in reckless disregard for this article, the penalty may be recovered even though the creditor has refunded the excess charge. No penalty pursuant to this subsection may be recovered if a court has ordered a similar penalty assessed against the same person in a civil action by the department (IC 37-2-7-14). With respect to excess charges arising from sales made pursuant to revolving charge accounts or from loans made pursuant to revolving loan accounts, no action pursuant to this subsection may be brought more than two (2) years after the time the excess charge was made. With respect to excess charges arising from other consumer credit sales or consumer loans, no action pursuant to this subsection may be brought more than one (1) year after the due date of the last scheduled payment of the agreement pursuant to which the charge was made.

(e) Except as otherwise provided, no violation of this article impairs rights on a debt.

(f) If an employer discharges an employee in violation of the provisions prohibiting discharge (section 5 of this chapter), the employee may within six (6) months bring a civil action for recovery of wages lost as a result of the violation and for an order requiring the reinstatement of the employee. Damages recoverable shall not exceed lost wages for six (6) weeks.

(g) If the creditor establishes by a preponderance of evidence that a violation is unintentional or the result of a bona fide error, no liability is imposed under subsections (a), (b), and (d) and the validity of the transaction is not affected.

(h) In any case in which it is found that a creditor has violated this article, the court may award reasonable attorney's fees incurred by the debtor.

(i) The department may act on behalf of a debtor to enforce the debtor's rights under this section against a creditor who is licensed or registered with the department or is required to be licensed or registered with the department.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-3 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-3
No garnishment before judgment
Status: in_force

Sec. 3. Prior to entry of judgment in an action against the debtor, no creditor may attach unpaid earnings of the debtor by garnishment or like proceedings.

[Pre-2026 Revision Citation: 24-4.5-5-104.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-16 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-16
Rulemaking authority
Status: in_force

Sec. 16. The department may adopt rules under IC 4-22-2 to implement this article.

[Pre-2026 Revision Citation: 24-4.5-7-414.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-23 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-23
Authority to make, take assignment of, or collect consumer loans other than mortgage transactions; license required; exempt persons; branches; separate license required for small loans
Status: in_force

Sec. 23. (a) A person that is a:

(1) depository institution;

(2) subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or

(3) credit union service organization;

may engage in Indiana in the making of consumer loans (including small loans that are subject to IC 37-3) that are not mortgage transactions without obtaining a license under this article.

(b) A collection agency licensed under IC 25-11-1 may engage in:

(1) taking assignments of consumer loans (including small loans that are subject to IC 37-3) that are not mortgage transactions; and

(2) undertaking the direct collection of payments from or the enforcement of rights against debtors arising from consumer loans (including small loans that are subject to IC 37-3) that are not mortgage transactions;

in Indiana without obtaining a license under this article.

(c) A person that does not qualify under subsection (a) or (b) shall acquire and retain a license under this chapter in order to regularly engage in Indiana in the following actions with respect to consumer loans that are not small loans (as defined in IC 37-3-2) or mortgage transactions:

(1) The making of consumer loans.

(2) Taking assignments of consumer loans.

(3) Undertaking the direct collection of payments from or the enforcement of rights against debtors arising from consumer loans.

(d) A separate license under this chapter is required for each legal entity that engages in Indiana in any activity described in subsection (c). However, a separate license under this chapter is not required for each branch of a legal entity licensed under this chapter to perform an activity described in subsection (c).

(e) Except as otherwise provided in subsections (a) and (b), a separate license under IC 37-3 is required in order to regularly engage in Indiana in the following actions with respect to small loans (as defined in IC 37-3-2):

(1) The making of small loans (as defined in IC 37-3-2).

(2) Taking assignments of small loans (as defined in IC 37-3-2).

(3) Undertaking the direct collection of payments from or the enforcement of rights against debtors arising from small loans (as defined in IC 37-3-2).

A person that seeks licensure under IC 37-3 in order to regularly engage in Indiana in the actions set forth in this subsection shall apply to the department for that license in the form and manner prescribed by the department, and is subject to the same licensure requirements and procedures as an applicant for a license to make consumer loans (other than small loans or mortgage transactions) under this section.

[Pre-2026 Revision Citation: 24-4.5-3-502.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-1 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-1
Lender not considered a financial institution
Status: in_force

Sec. 1. A lender is not considered a financial institution, except for purposes of IC 28-1.

[Pre-2026 Revision Citation: 24-4.5-7-112.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-5 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-5
"Agricultural purpose"
Status: in_force

Sec. 5. "Agricultural purpose" means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates, or nurtures the agricultural products.

[Pre-2026 Revision Citation: 24-4.4-1-301(4).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-10 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-10
"Consumer credit"
Status: in_force

Sec. 10. "Consumer credit" means credit offered or extended to a consumer primarily for a personal, family, or household purpose.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(7).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-13.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-13.5
"Consumer related sale"
Status: in_force

Sec. 13.5. "Consumer related sale" means a sale of goods, services, or an interest in land in which:

(1) credit is granted by a person that is not regularly engaged as a seller in credit transactions of the same kind;

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

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

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

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

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

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

[Pre-2026 Revision Citation: 24-4.5-2-602(1).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-45.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-45.5
"Sale of services"
Status: in_force

Sec. 45.5. "Sale of services" means furnishing or agreeing to furnish services and includes making arrangements to have services furnished by another.

[Pre-2026 Revision Citation: 24-4.5-2-105(5).]

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

Sec. 1. This chapter applies to a person that engages as a creditor in first lien mortgage transactions in Indiana. The authority of this chapter remains in effect, whether a licensee, individual, or person subject to this article acts or claims to act under any licensing or registration law of Indiana or claims to act without such authority.

[Pre-2026 Revision Citation: 24-4.4-3-102.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-6 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-6
Limits based on borrower's income; security; partial payments; payments; loan documents; recision; renewal prohibited
Status: in_force

Sec. 6. (a) A lender is prohibited from making a small loan to a borrower if the total of:

(1) the principal amount and finance charges of the small loan to be issued; plus

(2) any other small loan balances that the borrower has outstanding with any lender;

exceeds twenty percent (20%) of the borrower's monthly gross income.

(b) A small loan may be secured by only one (1) check or authorization to debit the borrower's account per small loan. The check or electronic debit may not exceed the amount advanced to or on behalf of the borrower plus loan finance charges contracted for and permitted.

(c) A borrower may make partial payments in any amount on the small loan without charge at any time before the due date of the small loan.

(d) After any payment is made on a small loan, whether the payment is made in part or in full before, on, or after the due date of the small loan, the lender shall give a signed and dated receipt to the borrower making a payment showing the amount paid and the balance due on the small loan.

(e) The lender shall provide to each borrower a copy of the required loan documents before the disbursement of the loan proceeds.

(f) 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 proceeds.

(g) A lender shall not enter into a renewal with a borrower. If a loan is paid in full, a subsequent loan is not a renewal.

[Pre-2026 Revision Citation: 24-4.5-7-402.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-9 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-9
Cooperation between administrator and insurance commissioner
Status: in_force

Sec. 9. The department and the insurance commissioner are authorized and directed to consult and assist one another in maintaining compliance with this chapter. They may jointly pursue investigations, prosecute suits, and take other official action, as may seem to them appropriate, if either of them is otherwise empowered to take the action. If the department is informed of a violation or suspected violation by an insurer of this chapter, or of the insurance laws, rules, and regulations of Indiana, the department shall advise the insurance commissioner of the circumstances.

[Pre-2026 Revision Citation: 24-4.5-4-111.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-4 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-4
License required; registration with NMLSR; licensed mortgage loan originators; loan processor or underwriting activities; applications for licensure; director's authority to contract with NMLSR
Status: in_force

Sec. 4. (a) Unless a person subject to this article has first obtained a mortgage license from the department and annually maintains the license, the person shall not engage in Indiana as a creditor in first lien mortgage transactions. A separate mortgage license is required for each legal entity that engages in Indiana as a creditor in first lien mortgage transactions. However, a separate mortgage license is not required for each branch of a legal entity licensed by the department.

(b) Each:

(1) creditor licensed by the department to engage in mortgage transactions; and

(2) person exempt from licensing that:

(A) employs a licensed mortgage loan originator; or

(B) sponsors a licensed mortgage loan originator as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

shall register with and maintain a valid unique identifier issued by the NMLSR. Each licensed mortgage loan originator must be employed by, or sponsored as permitted by IC 37-1-1-6(8) or by 750 IAC 9, and associated with, a licensed creditor (or a person exempt from licensing) that is registered with the NMLSR.

(c) An individual engaging solely in loan processor or underwriter activities shall not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator. An individual who:

(1) is licensed as a mortgage loan originator under this article and 750 IAC 9-3; and

(2) is sponsored by a person, as permitted by IC 37-1-1-6(8), to engage solely as a third party loan processor or underwriter;

is subject to the prohibition set forth in this subsection with respect to the individual's engagement under the sponsorship.

(d) An applicant for a mortgage license must apply for the license in the form prescribed by the director. Each form:

(1) must contain content as set forth by rule, instruction, or procedure of the director; and

(2) may be changed or updated as necessary by the director to carry out the purposes of this article.

(e) To fulfill the purposes of this article, the director may establish relationships or contracts with the NMLSR or other entities designated by the NMLSR to:

(1) collect and maintain records; and

(2) process transaction fees or other fees related to licensees or other persons subject to this article.

(f) For the purpose of participating in the NMLSR, the director or the department may:

(1) waive or modify, in whole or in part, by rule or order, any of the requirements of this article; and

(2) establish new requirements as reasonably necessary to participate in the NMLSR.

[Pre-2026 Revision Citation: 24-4.4-2-401.]

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

Sec. 2. The division of consumer credit shall have charge of the administration of this article.

[Pre-2026 Revision Citation: 24-4.5-6-103.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-25 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-25
Limitation on default charges
Status: in_force

Sec. 25. Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer credit sale may not provide for any charges as a result of default by the buyer other than those authorized by this article. A provision in violation of this section is unenforceable.

[Pre-2026 Revision Citation: 24-4.5-2-414.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-5-1 — Indiana Code / Title 37 / Article 5 / Chapter 5 / Section 37-5-5-1
Purchaser or assignee subject to affirmative claims and defenses; claims available to borrower
Status: in_force

Sec. 1. (a) A person who purchases or is otherwise assigned a high cost home loan is subject to all affirmative claims and any defenses, except for an affirmative claim or defense pursuant to IC 37-5-3-7, with respect to the high cost home loan that the borrower could assert against a creditor or broker of the high cost home loan. However, this section does not apply if the purchaser or assignee demonstrates by a preponderance of the evidence that a reasonable person exercising ordinary due diligence could not determine that the loan was a high cost home loan. A purchaser or an assignee is presumed to have exercised reasonable due diligence if the purchaser or assignee:

(1) has in place at the time of the purchase or assignment of the subject loans, policies that expressly prohibit the purchase or acceptance of the assignment of any high cost home loans;

(2) requires by contract that a seller or an assignor of home loans to the purchaser or assignee represents and warrants to the purchaser or assignee that either:

(A) the seller or assignor will not sell or reassign any high cost home loans to the purchaser or assignee; or

(B) the seller or assignor is a beneficiary of a representation and warranty from a previous seller or assignor to that effect;

(3) exercises reasonable due diligence:

(A) at the time of purchase or assignment of home loans; or

(B) within a reasonable period after the purchase or assignment of home loans;

intended by the purchaser or assignee to prevent the purchaser or assignee from purchasing or taking assignment of any high cost home loans; or

(4) satisfies the requirements of subdivisions (1) and (2) and establishes that a reasonable person exercising ordinary due diligence could not determine that the loan was a high cost home loan based on the:

(A) documentation required by the federal Truth in Lending Act (15 U.S.C. 1601 et seq.); and

(B) itemization of the amount financed and other disbursement disclosures.

(b) A borrower acting only in an individual capacity may assert against the creditor or any subsequent holder or assignee of a high cost home loan:

(1) a violation of IC 37-5-4-2 as a defense, claim, or counterclaim, after:

(A) an action to enjoin foreclosure or to preserve or obtain possession of the dwelling that secures the loan is initiated;

(B) an action to collect on the loan or foreclose on the collateral securing the loan is initiated; or

(C) the loan is more than sixty (60) days in default;

within three (3) years after the closing of a home loan;

(2) a violation of this article in connection to the high cost home loan as a defense, claim, or counterclaim in an original action within five (5) years after the closing of a high cost home loan; and

(3) any defense, claim, counterclaim, or action to enjoin foreclosure or preserve or obtain possession of the home that secures the loan, including a violation of this article after:

(A) an action to collect on the loan or foreclose on the collateral securing the loan is initiated;

(B) the debt arising from the loan is accelerated; or

(C) the loan is more than sixty (60) days in default;

at any time during the term of a high cost home loan.

(c) In an action, a claim, or a counterclaim brought under subsection (b), the borrower may recover only amounts required to reduce or extinguish the borrower's liability under a home loan plus amounts required to recover costs, including reasonable attorney's fees.

(d) The provisions of this section are effective notwithstanding any other provision of law. This section shall not be construed to limit the substantive rights, remedies, or procedural rights available to a borrower against any creditor, assignee, or holder under any other law. The rights conferred on borrowers by subsections (a) and (b) are independent of each other and do not limit each other.

[Pre-2026 Revision Citation: 24-9-5-1.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-10 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-10
License renewal; revocation or suspension of license not renewed; reinstatement or appeal; correcting amendments
Status: in_force

Sec. 10. (a) A mortgage license issued by the department must be renewed through the NMLSR not later than December 31 of each calendar year. The minimum standards for license renewal for a creditor include the following:

(1) The creditor has continued to meet the surety bond requirement under section 8 of this chapter.

(2) The creditor has filed the creditor's call report in a manner that satisfies section 19(d) of this chapter.

(3) The creditor has paid all required fees for renewal of the license.

(4) The creditor and individuals described in section 5(b) of this chapter have certified to the department that they continue to meet all the standards for licensing contained in section 5 of this chapter.

(5) The creditor has provided in the creditor's renewal application:

(A) any information describing material changes in the information contained in the creditor's original application for licensure, or in any previous application, including any previous renewal application; and

(B) any other information the director requires in order to evaluate the renewal of the license.

(b) A license issued by the department authorizing a person to engage in first lien mortgage transactions as a creditor under this article may be revoked or suspended by the department if the person fails to:

(1) file any renewal form required by the department; or

(2) pay any license renewal fee described under section 5 of this chapter;

not later than sixty (60) days after the due date.

(c) A person whose license is revoked or suspended under this section may do either of the following:

(1) Pay all delinquent fees and apply for reinstatement of the license.

(2) Appeal the revocation or suspension to the department for an administrative review under IC 4-21.5-3. Pending the decision resulting from the hearing under IC 4-21.5-3 concerning the license revocation or suspension, the license remains in force.

(d) If, at any time, the information or record contained in:

(1) an original application for licensure filed under section 5 of this chapter; or

(2) a renewal application filed under this section;

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

[Pre-2026 Revision Citation: 24-4.4-2-403.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-26 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-26
"Lender credit card or similar arrangement"
Status: in_force

Sec. 26. "Lender credit card or similar arrangement" means an arrangement or loan agreement, other than a seller credit card, pursuant to which a lender gives a debtor the privilege of using a credit card, letter of credit, or other credit confirmation or identification in transactions out of which debt arises:

(1) by the lender's honoring a draft or similar order for the payment of money drawn or accepted by the debtor;

(2) by the lender's payment or agreement to pay the debtor's obligations; or

(3) by the lender's purchase from the obligee of the debtor's obligations.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(21).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-18 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-18
Authority of director to enforce orders, agreements, or conditions in court
Status: in_force

Sec. 18. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction:

(1) An order issued under this chapter.

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

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

[Pre-2026 Revision Citation: 24-4.4-2-404.7.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-29 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-29
"Nationwide Multistate Licensing System and Registry"
Status: in_force

Sec. 29. "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: 24-4.4-1-301(24).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-10 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-10
Exempt transactions and persons
Status: in_force

Sec. 10. This article does not apply to the following:

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

(2) The sale of insurance by an insurer, except as otherwise provided in the chapter on insurance (IC 37-2-5).

(3) Transactions under public utility, municipal utility, or common carrier tariffs if a subdivision or agency of this state or of the United States regulates the charges for the services involved, the charges for delayed payment, and any discount allowed for early payment.

(4) The rates and charges and the disclosure of rates and charges of a licensed pawnbroker established in accordance with a statute or ordinance concerning these matters.

(5) A sale of goods, services, or an interest in land in which the goods, services, or interest in land are purchased primarily for a purpose other than a personal, family, or household purpose.

(6) A loan in which the debt is incurred primarily for a purpose other than a personal, family, or household purpose.

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

(8) An installment agreement for the purchase of home fuels in which a finance charge is not imposed.

(9) Loans made, insured, or guaranteed under a program authorized by Title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.).

(10) Transactions in securities or commodities accounts in which credit is extended by a broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission.

(11) Except for IC 37-2-4-24(d), IC 37-2-4-29, IC 37-2-4-33(d), and IC 37-2-4-33(e), a loan 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.

(12) Except for IC 37-2-4-24(d), IC 37-2-4-29, IC 37-2-4-33(d), and IC 37-2-4-33(e), a subordinate 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 Housing and Community Development Act of 1974, Public Law 93-383, as amended (42 U.S.C. 5301 et seq.).

(13) The United States, any state or local government, or any agency or instrumentality of any governmental entity, including United States government sponsored enterprises and state educational institutions (as defined in IC 21-7-13-32). For purposes of this subdivision, an "instrumentality" of a governmental entity includes a foundation, a corporate or nonprofit subsidiary, or an affiliate of the governmental entity.

(14) 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).

(15) 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: 24-4.5-1-202(b).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-6 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-6
Delinquency charges
Status: in_force

Sec. 6. (a) With respect to a consumer credit sale, 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 credit sale, 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 seller 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 credit sale, 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 credit sale, 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 credit sale, 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 credit sale, refinancing, or consolidation that is payable in a single installment that is due at least thirty (30) days after the consumer credit sale, 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. A delinquency charge on consumer credit sales made under a revolving charge account may be applied each month that the payment is less than the minimum required payment. A delinquency charge may be collected any time after it accrues. No delinquency charge may 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 has been paid or incurred, as provided in section 5 of this chapter; or

(3) a charge for an optional expedited payment service has been paid or incurred, as provided in section 5 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 credit sale, 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 consumer credit sale are in default for ten (10) days or more, the creditor may elect to convert the consumer credit sale from a precomputed consumer credit sale to a consumer credit sale in which the credit service charge is based on unpaid balances. A creditor that makes this election shall make a rebate under the provisions on rebates upon prepayment under section 12 of this chapter as of the maturity date of the first delinquent installment, and thereafter may make a credit service charge as authorized by the provisions on credit service charges for consumer credit sales under section 4 of this chapter. The amount of the rebate shall not be reduced by the amount of any permitted minimum charge under section 12 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: 24-4.5-2-203.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-5 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-5
Adjustment of dollar amounts
Status: in_force

Sec. 5. (a) The dollar amounts in this article designated as subject to change shall change, as provided in this section, according to the Consumer Price Index for Urban Wage Earners and Clerical Workers: U.S. City Average, All Items, 1957-59 equals 100, compiled by Bureau of Labor Statistics, United States Department of Labor, and referred to in this section as the Index. The Index for October 1971, is the Reference Base Index.

(b) The dollar amounts shall change on January 1 of each odd-numbered year if the percentage of change, calculated to the nearest whole percentage point, between the Index at the end of the preceding odd-numbered year and the Reference Base Index is ten percent (10%) or more, except that:

(1) the portion of the percentage change in the Index in excess of a multiple of ten percent (10%) shall be disregarded and the dollar amounts shall change only in multiples of ten percent (10%) of the amounts on March 5, 1971;

(2) the dollar amounts shall not change if the amounts required by this section are those currently in effect pursuant to this article as a result of earlier application of the section; and

(3) in no event shall the dollar amounts be reduced below the amounts appearing in this article on March 5, 1971.

(c) If the Index is revised after December 1967, the percentage of change shall be calculated on the basis of the revised Index. If the revision of the Index changes the Reference Base Index, a revised Reference Base Index shall be determined by multiplying the Reference Base Index by the ratio of the revised Index to the current Index, as each was for the first month in which the revised Index is available. If the Index is superseded, the Index is the one represented by the Bureau of Labor Statistics as reflecting most accurately changes in the purchasing power of the dollar for consumers.

(d) The department shall issue a rule under IC 4-22-2 announcing:

(1) sixty (60) days before January 1 of each odd-numbered year in which dollar amounts are to change, the changes in dollar amounts required by subsection (b); and

(2) promptly after the changes occur, changes in the Index required by subsection (c), including, when applicable, the numerical equivalent of the Reference Base Index under a revised Reference Base Index and the designation or title of any index superseding the Index.

(e) A person does not violate this article through a transaction otherwise complying with this article if the person relies on dollar amounts either determined according to subsection (b) or appearing in the last rule of the department announcing the then current dollar amounts.

[Pre-2026 Revision Citation: 24-4.5-1-106.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-3-7 — Indiana Code / Title 37 / Article 5 / Chapter 3 / Section 37-5-3-7
Mortgage transactions and real estate transactions; prohibited acts; land contracts; written notice of encumbrances
Status: in_force

Sec. 7. (a) As used in this section, "mortgage transaction" includes the following:

(1) A home loan subject to this article.

(2) To the extent allowed under federal law, a loan described in IC 37-5-1-1 that is secured by a mortgage or a land contract (or another consensual security interest equivalent to a mortgage or a land contract) on real estate in Indiana on which there is located or will be located a structure or structures:

(A) designed primarily for occupancy of one (1) to four (4) families; and

(B) that is or will be occupied by a borrower as the borrower's principal dwelling.

(3) A first lien mortgage transaction (as defined in IC 37-1-2-18) subject to IC 37-1.

(4) A consumer credit sale subject to IC 37-2-3 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:

(A) that is located in Indiana; and

(B) 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.

(5) A consumer loan subject to IC 37-2-4 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:

(A) that is located in Indiana; and

(B) 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.

(6) A loan 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:

(A) that is located in Indiana;

(B) upon which there is constructed or intended to be constructed a dwelling that is not or will not be used by the borrower primarily for personal, family, or household purposes; and

(C) that is classified as residential for property tax purposes.

The term includes a loan that is secured by land in Indiana upon which there is constructed or intended to be constructed a dwelling that is purchased by or through the borrower for investment or other business purposes.

(7) A reverse mortgage transaction that is secured by real estate in Indiana on which there is located a structure that is occupied by a borrower as the borrower's principal dwelling.

(b) As used in this section, "real estate transaction" means the sale or lease of any legal or equitable interest in real estate:

(1) that is located in Indiana;

(2) upon which there is constructed or intended to be constructed a dwelling; and

(3) that is classified as residential for property tax purposes.

(c) A person may not do any of the following:

(1) Divide a home loan transaction into separate parts with the intent of evading a provision of this article.

(2) Structure a home loan transaction as an open-end loan with the intent of evading the provisions of this article if the home loan would be a high cost home loan if the home loan had been structured as a closed-end loan.

(3) Engage in a deceptive act in connection with a mortgage transaction or a real estate transaction.

(4) Engage in, or solicit to engage in, a real estate transaction or a mortgage transaction without a permit or license required by law.

(5) With respect to a real estate transaction or a mortgage transaction, represent that:

(A) the transaction has:

(i) certain terms or conditions; or

(ii) the sponsorship or approval of a particular person or entity;

that it does not have and that the person knows or reasonably should know it does not have; or

(B) the real estate or property that is the subject of the transaction has any improvements, appurtenances, uses, characteristics, or associated benefits that it does not have and that the person knows or reasonably should know it does not have.

(6) Maintain or offer to maintain an account for the receipt of funds for the payment of real estate taxes and insurance unless the person is any of the following:

(A) Any of the following that is chartered under the laws of a state or the United States:

(i) A bank.

(ii) A savings and loan association.

(iii) A credit union.

(iv) A savings bank.

(B) The creditor in a mortgage transaction.

(C) A mortgage servicer acting on behalf of the creditor in a mortgage transaction.

(D) A closing agent (as defined in IC 27-7-3.7-1).

(7) Fail to provide the notice required under subsection (d), within the time specified in subsection (d), if the person is a seller in a real estate transaction described in subsection (d).

(d) This subsection applies to a real estate transaction that involves a land contract between the seller and the buyer in the transaction. If the real estate that is the subject of the transaction is subject to any encumbrance, including any tax lien, foreclosure action, legal judgment, or other encumbrance affecting the title to the real estate, the seller must provide written notice by certified mail, return receipt requested, of the encumbrance to the buyer:

(1) not later than the time the land contract is executed, if the encumbrance is created before or at the time the land contract is executed; or

(2) not later than ten (10) business days after the encumbrance is created, if the encumbrance is created after the land contract is executed.

[Pre-2026 Revision Citation: 24-9-3-7.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-29 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-29
Surety bond for creditors engaged in mortgage transactions; requirements; amount; termination; liability; notices
Status: in_force

Sec. 29. (a) Each:

(1) creditor 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 a licensed mortgage loan originator; or

(B) sponsors a licensed mortgage loan originator as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

must be covered by a surety bond in accordance with this section.

(b) A surety bond must:

(1) provide coverage for:

(A) a creditor described in subsection (a)(1); and

(B) an exempt person described in subsection (a)(2);

in an amount as prescribed in subsection (d);

(2) be in a form as prescribed by the director;

(3) be in effect:

(A) during the term of the creditor's license; or

(B) at any time during which the person exempt from licensing employs a licensed mortgage loan originator, or sponsors a licensed mortgage loan originator as permitted by IC 37-1-1-6(8) or by 750 IAC 9;

as applicable;

(4) subject to subsection (c), remain in effect during the two (2) years after:

(A) the license of the creditor is surrendered or terminated; or

(B) the person exempt from licensing ceases to employ a licensed mortgage loan originator, or ceases to sponsor a licensed mortgage loan originator as permitted by IC 37-1-1-6(8) or by 750 IAC 9, or to offer financial services to individuals in Indiana, whichever is later;

as applicable;

(5) be payable to the department for the benefit of:

(A) the state; and

(B) individuals who reside in Indiana when they agree to receive financial services from the creditor or the person exempt from licensing, as applicable;

(6) be issued by a bonding, surety, or insurance company authorized to do business in Indiana and rated at least "A-" by at least one (1) nationally recognized investment rating service; and

(7) have payment conditioned upon:

(A) the creditor's or any of the creditor's licensed mortgage loan originators'; or

(B) the exempt person's or any of the exempt person's licensed mortgage loan originators';

noncompliance with or violation of this chapter, 750 IAC 9, or other federal or state laws or regulations applicable to mortgage lending.

(c) The director may adopt rules or guidance documents with respect to the requirements for surety bonds as necessary to accomplish the purposes of this article. Upon written request from:

(1) a creditor described in subsection (a)(1); or

(2) an exempt person described in subsection (a)(2);

the director may, at the discretion of the director, waive or shorten the two (2) year period set forth in subsection (b)(4) during which a surety bond required by this section must remain in effect after the occurrence of an event described in subsection (b)(4)(A) or (b)(4)(B), as applicable.

(d) The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of mortgage transactions originated as determined by the director. If the principal amount of a surety bond required under this section is reduced by payment of a claim or judgment, the creditor or exempt person for whom the bond is issued shall immediately notify the director of the reduction and, not later than thirty (30) days after notice by the director, file a new or an additional surety bond in an amount set by the director. The amount of the new or additional bond set by the director must be at least the amount of the bond before payment of the claim or judgment.

(e) If for any reason a surety terminates a bond issued under this section, the creditor or the exempt person shall immediately notify the department and file a new surety bond in an amount determined by the director.

(f) Cancellation of a surety bond issued under this section does not affect any liability incurred or accrued during the period when the surety bond was in effect.

(g) The director may obtain satisfaction from a surety bond issued under this section if the director incurs expenses, issues a final order, or recovers a final judgment under this chapter.

(h) Notices required under this section must be made in writing and submitted through the NMLSR or any other electronic registration system that may be approved by the director.

[Pre-2026 Revision Citation: 24-4.5-3-503.3.]

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

Sec. 3. This article is a general statute intended to provide unified coverage of its subject matter. Subsequent legislation may not be construed to repeal any part of the article by implication if the construction can reasonably be avoided.

[Pre-2026 Revision Citation: 24-4.5-1-104.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-22 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-22
Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds
Status: in_force

Sec. 22. (a) A violation by a creditor in a first lien mortgage transaction of Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635) (concerning a debtor's right to rescind a transaction) constitutes a violation of this article. A creditor may not accrue interest during the period when a first lien mortgage transaction may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).

(b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of:

(1) the date the creditor is reasonably satisfied that the debtor has not rescinded the transaction; or

(2) the first business day after the expiration of the rescission period under subsection (a).

[Pre-2026 Revision Citation: 24-4.4-2-502.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-2-9.5 — Indiana Code / Title 37 / Article 5 / Chapter 2 / Section 37-5-2-9.5
"Land contract"
Status: in_force

Sec. 9.5. "Land contract" means a contract for the sale of real estate in which the seller of the real estate retains legal title to the real estate until the total contract price is paid by the buyer.

[Pre-2026 Revision Citation: 24-9-2-9.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-3-5 — Indiana Code / Title 37 / Article 4 / Chapter 3 / Section 37-4-3-5
Foreclosure consultant's duty to return payments made by homeowner
Status: in_force

Sec. 5. If a homeowner rescinds a contract with a foreclosure consultant, not less than ten (10) days following the effective date of the rescission, the consultant shall return to the homeowner any payments made by the homeowner, less any amounts for actual services rendered.

[Pre-2026 Revision Citation: 24-5.5-4-5.]

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

Sec. 2. A sale, refinancing, or consolidation is considered precomputed if the debt is expressed as a sum comprising the amount financed and the amount of the credit service charge computed in advance.

[Pre-2026 Revision Citation: 24-4.5-2-105(7).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-7-18 — Indiana Code / Title 37 / Article 2 / Chapter 7 / Section 37-2-7-18
Notice of charges; requirements; hearing; final order; suspension or prohibition pending final order; official record
Status: in_force

Sec. 18. (a) A notice issued under section 17 of this chapter must:

(1) be in writing;

(2) contain a statement of:

(A) the facts constituting the alleged violation, practice, or breach;

(B) the facts alleged in support of the violation, practice, or breach; and

(C) the director's intention to issue an order under section 20(a) of this chapter;

(3) be delivered to the board of directors of the creditor;

(4) be delivered to the officer, director, or manager to which the notice applies;

(5) specify the procedures that must be followed to initiate a hearing to contest the alleged violation, practice, or breach; and

(6) if the director suspends or prohibits the officer, director, or manager from participation in the affairs of the creditor as described under subsection (e), contain a statement of the suspension or prohibition.

(b) If a hearing is requested not later than ten (10) days after service of the notice described under subsection (a), the department shall hold a hearing concerning the alleged violation, practice, or breach. The hearing shall be held not later than forty-five (45) days after receipt of the request. The department, based on the evidence presented at the hearing, shall enter a final order in accordance with section 20 of this chapter.

(c) If no hearing is requested within the period of time specified in subsection (b), the director may proceed to issue a final order under section 20 of this chapter on the basis of the facts set forth in the notice described under subsection (a).

(d) An officer, a director, or a manager of a creditor who is removed from a position under a removal order under section 20 of this chapter that has become final may not, without the approval of the director, participate in the conduct of the affairs of a licensee described under IC 37-2-4.

(e) The director may, for the protection of the creditor or the interests of the creditor's customers, suspend from office or prohibit from participation in the affairs of the creditor an officer, a director, or a manager of a creditor who is the subject of a written notice served by the director under section 17(a) of this chapter. A suspension or prohibition under this subsection becomes effective upon service of the notice under section 17(a) of this chapter. Unless stayed by a court in a proceeding authorized by subsection (f), the suspension or prohibition remains in effect pending completion of the proceedings related to the notice served under section 17(a) of this chapter and until the effective date of an order entered by the department under subsection (b) or the director under subsection (c). If the director suspends or prohibits participation of an officer, a director, or a manager under this subsection, copies of the notice shall also be served upon the creditor or affiliate of which the person is an officer, a director, or a manager.

(f) Not more than fifteen (15) days after an officer, a director, or a manager has been suspended from office or prohibited from participation in the conduct of the affairs of the creditor or affiliate under subsection (e), the officer, director, or manager may apply to a court having jurisdiction for a stay of the suspension or prohibition pending completion of the proceedings related to the notice served under section 17(a) of this chapter. The court may stay a suspension of prohibition of the officer, director, or manager.

(g) The department shall maintain an official record of a proceeding under this chapter.

[Pre-2026 Revision Citation: 24-4.5-6-120.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-14 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-14
Use of multiple agreements
Status: in_force

Sec. 14. A seller may not use multiple agreements with intent to obtain a higher credit service charge than would otherwise be permitted by this article or to avoid disclosure of an annual percentage rate pursuant to section 13 of this chapter. The excess amount of credit service charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on the effect of violations on rights of parties (IC 37-2-6-9) and the provisions on civil actions by the department (IC 37-2-7-14).

[Pre-2026 Revision Citation: 24-4.5-2-402.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-8-2 — Indiana Code / Title 37 / Article 5 / Chapter 8 / Section 37-5-8-2
Homeowner protection unit
Status: in_force

Sec. 2. (a) The attorney general and the attorney general's homeowner protection unit established under IC 4-6-12 shall enforce this article. An action may not be brought under this article more than five (5) years after the occurrence of the violation.

(b) The attorney general may refer a matter under section 1 of this chapter to a prosecuting attorney for enforcement.

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

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

Sec. 1. Except for IC 37-5-3-7(c)(3), IC 37-5-3-7(c)(4), and IC 37-5-3-7(c)(5), this article does not apply to:

(1) a loan made or acquired by a person organized or chartered under the laws of this state, any other state, or the United States relating to banks, trust companies, savings associations, savings banks, credit unions, or industrial loan and investment companies; or

(2) a loan:

(A) that can be purchased by the Federal National Mortgage Association, the Federal Home Loan Mortgage Association, or the Federal Home Loan Bank;

(B) to be insured by the United States Department of Housing and Urban Development;

(C) to be guaranteed by the United States Department of Veterans Affairs;

(D) to be made or guaranteed by the United States Department of Agriculture Rural Housing Service;

(E) to be funded by the Indiana housing and community development authority; or

(F) with a principal amount that exceeds the conforming loan size limit for a single family dwelling as established by the Federal National Mortgage Association.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-6 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-6
Applicability of laws governing administrative orders and rules; venue
Status: in_force

Sec. 6. Except as otherwise provided, IC 4-21.5-3 governs any action taken by the department under this chapter or IC 37-1-3-4 through IC 37-1-3-19. IC 4-22-2 applies to the adoption of rules by the department under this article. 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.

[Pre-2026 Revision Citation: 24-4.4-3-105.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-33 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-33
Credit service charge for other sales
Status: in_force

Sec. 33. With respect to a sale other than a consumer credit sale or a consumer related sale, the parties may contract for the payment by the buyer of any credit service charge.

[Pre-2026 Revision Citation: 24-4.5-2-605.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-32 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-32
Suspension or revocation of license; order to show cause; order of suspension or revocation; relinquishment of license; preexisting contracts; emergency order for revocation
Status: in_force

Sec. 32. (a) The department may issue to a person licensed to:

(1) make consumer loans; or

(2) engage in consumer credit sales that are mortgage transactions;

an order to show cause why the 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 laws, rules, or regulations applicable to consumer credit transactions;

(2) the licensee does not meet the licensing qualifications under section 26 of this chapter;

(3) the licensee obtained the license for the benefit of, or on behalf of, a person who does not qualify for the license;

(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 forthwith 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 to make consumer loans may relinquish the license by notifying the department in writing of its relinquishment, but this relinquishment 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 is 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: 24-4.5-3-504.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-19 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-19
Notice of assignment
Status: in_force

Sec. 19. The debtor is authorized to pay the original lender until the debtor receives notification of assignment of rights to payment pursuant to a consumer loan 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 debtor, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless the assignee does so the debtor may pay the original lender.

[Pre-2026 Revision Citation: 24-4.5-3-406.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-47 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-47
"Subordinate lien mortgage transaction"
Status: in_force

Sec. 47. "Subordinate 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 subordinate 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(42).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-4 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-4
Loan finance charge for consumer loans other than supervised loans; loan agreements entered into after June 30, 2020; precomputed consumer loans prohibited; nonrefundable prepaid finance charge; subterfuge by lender; applicability of loansharking statute
Status: in_force

Sec. 4. (a) This section does not apply to a supervised loan. Except as provided in subsections (f) and (i), with respect to a consumer loan, a lender may contract for a loan finance charge, calculated according to the actuarial method, not exceeding twenty-five percent (25%) per year on the unpaid balances of the principal.

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

(1) the loan finance 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 13 of this chapter.

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

(1) The consumer loan is subject to this section, including the limitations set forth in:

(A) subsection (a) with respect to the loan finance charge; and

(B) subsection (i)(2) with respect to the amount of the authorized nonrefundable prepaid finance charge, in the case of a consumer loan that is not secured by an interest in land.

(2) The loan finance charge authorized by this section must be:

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

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

(3) A loan agreement for a precomputed consumer loan is prohibited.

(4) Subject to subsection (l), in addition to the loan finance charge authorized by subsection (a) and to any other fees permitted by this chapter, and not subject to the twenty-five percent (25%) rate set forth in subsection (a), the lender may contract for and receive as a condition for, or an incident to, the extension of credit a nonrefundable prepaid finance charge under subsection (i), 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 loan.

(d) For the purposes of this section, the term of a loan commences with the date the loan is made. 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 lender 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 if that procedure is not consistently used to obtain a greater yield than would otherwise be permitted. For purposes of computing average daily balances, the creditor may elect to treat all months as consisting of thirty (30) days.

(e) With respect to a consumer loan made pursuant to a revolving loan account:

(1) the loan finance charge shall be deemed not to exceed the maximum annual percentage rate if the loan finance charge contracted for and received does 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 debt;

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

(C) subject to subsection (f), the median amount within a specified range within which the average daily balance or the unpaid balance of the debt, on the same day of the billing cycle, is included; for the purposes of this clause and clause (B), 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 loan finance charge shall be deemed not to exceed the maximum annual percentage rate if the loan finance charge contracted for and received does not exceed a percentage which bears the same relation to one-twelfth (1/12) the maximum annual percentage rate as the number of days in the billing cycle bears to thirty (30); and

(3) notwithstanding subsection (a), if there is an unpaid balance on the date as of which the loan finance charge is applied, the lender 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, but no charge may be made pursuant to this subdivision if the lender has made an annual charge for the same period as permitted by the provisions on additional charges in section 5(a)(3) of this chapter.

(f) Subject to classifications and differentiations the lender may reasonably establish, the lender may make the same loan finance charge on all amounts financed within a specified range. A loan finance charge does not violate subsection (a) if:

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

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

(g) With respect to a consumer loan not made pursuant to a revolving loan account, the lender may contract for and receive a minimum loan finance charge of not more than thirty dollars ($30). The minimum loan finance charge allowed under this subsection may be imposed only if the lender does not contract for or receive a nonrefundable prepaid finance charge under subsection (i) and:

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

(2) the loan, refinancing, or consolidation prepaid by the debtor is subject to a loan finance charge that:

(A) is contracted for by the parties; and

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

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

(h) The amount of thirty dollars ($30) in subsection (g) is subject to change under the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 1992.

(i) Except as provided in subsection (g), and subject to subsection (l), in addition to the loan finance charge authorized by subsection (a) and to any other charges and fees permitted by this chapter, a lender may contract for and receive a nonrefundable prepaid finance charge of not more than the following:

(1) In the case of a consumer loan that is secured by an interest in land and that:

(A) is not made under a revolving loan account, three percent (3%) of the loan amount; or

(B) is made under a revolving loan account, three percent (3%) of the line of credit.

(2) In the case of consumer loan that is not secured by an interest in land, fifty dollars ($50) if the loan agreement is entered into before July 1, 2020. If the loan agreement is entered into after June 30, 2020, not more than the following:

(A) Seventy-five dollars ($75), in the case of a loan agreement for a principal amount which is two thousand dollars ($2,000) or less.

(B) One hundred fifty dollars ($150) in the case of a loan agreement for a principal amount which is more than two thousand dollars ($2,000) but does not exceed four thousand dollars ($4,000).

(C) Two hundred dollars ($200) in the case of a loan agreement for a principal amount which is more than four thousand dollars ($4,000).

The amounts in this subsection are not subject to change under IC 37-2-1-5.

(j) The nonrefundable prepaid finance charge provided for in subsection (i) is not subject to refund or rebate. However, for any loan entered into after June 30, 2020, any amount charged by the lender, other than by a lender that is a depository institution, under subsection (i) that exceeds the applicable amount permitted by subsection (i)(2) 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 subsection (i) that exceeds the applicable amount set forth in subsection (i)(2) is subject to refund.

(k) If the director determines that a lender's accrual method of accounting as applied to a consumer loan under this section involves the application of subterfuge for the purpose of circumventing this chapter, the director may conform the loan finance 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.

(l) At the time of consummation of a consumer loan:

(1) the loan finance charge authorized by subsection (a); and

(2) the nonrefundable prepaid finance charge authorized by subsection (i) (including any amount charged by a depository institution that exceeds the applicable amount set forth in subsection (i)(2));

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

(m) Notwithstanding subsections (i) and (j), in the case of a consumer loan that is not secured by an interest in land, if a lender retains any part of a nonrefundable prepaid finance charge charged on a loan that is paid in full by a new loan from the same lender, the following apply:

(1) If the loan is paid in full by the new loan within three (3) months after the date of the prior loan, the lender may not charge a nonrefundable prepaid finance charge on the new loan, or, in the case of a revolving loan, on the increased credit line.

(2) The lender may not assess more than two (2) nonrefundable prepaid finance charges in any twelve (12) month period.

(3) Subject to subdivisions (1) and (2), if a loan that is entered into by a lender and a debtor before July 1, 2020, is paid in full by a new loan from the same lender after June 30, 2020, the lender may contract for and receive a nonrefundable prepaid finance charge in the amount set forth in subsection (i)(2) for loan agreements entered into after June 30, 2020.

(n) In the case of a consumer loan that is secured by an interest in land, this section does not prohibit a lender from contracting for and receiving a fee for preparing deeds, mortgages, reconveyances, and similar documents under section 5(a)(4)(B) of this chapter, in addition to the nonrefundable prepaid finance charge provided for in subsection (i).

[Pre-2026 Revision Citation: 24-4.5-3-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-2-10 — Indiana Code / Title 37 / Article 3 / Chapter 2 / Section 37-3-2-10
"Small loan"
Status: in_force

Sec. 10. (a) "Small loan" means a loan:

(1) with a principal loan amount that is at least fifty dollars ($50) and not more than five hundred fifty dollars ($550); and

(2) in which the lender holds the borrower's check for a specific period, or receives the borrower's written authorization to debit the borrower's account (other than as a result of default) under an agreement, either express or implied, for a specific period, before the lender:

(A) offers the check for deposit or presentment; or

(B) exercises the authorization to debit the borrower's account.

(b) The amount of five hundred fifty dollars ($550) in subsection (a)(1) is subject to change under the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 2006.

[Pre-2026 Revision Citation: 24-4.5-7-104.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-5-2 — Indiana Code / Title 37 / Article 4 / Chapter 5 / Section 37-4-5-2
Homeowner's cause of action; damages; attorney's fees
Status: in_force

Sec. 2. (a) A homeowner may bring an action against a person for damages incurred as a result of a violation of this article.

(b) A homeowner who:

(1) brings an action under this section; and

(2) is awarded damages;

may seek reasonable attorney's fees.

[Pre-2026 Revision Citation: 24-5.5-6-2.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-26 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-26
Application for licenses; issuance; evidence of compliance; use of NMLSR; denial of application; right to hearing; fees; license not assignable or transferrable; tax warrant list
Status: in_force

Sec. 26. (a) The department shall receive and act on all applications for licenses to make consumer loans. Applications must be as prescribed by the director of the department of financial institutions. If, at any time, the information or record contained in:

(1) an application filed under section 23 of this chapter or section 24 of this chapter; or

(2) a renewal application filed under section 31 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 shall 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 concerning a person licensed under section 23 of this chapter may include and for a person licensed under section 24 of this chapter must include:

(1) criminal background checks as described in section 27 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 28 of this chapter;

(3) surety bond requirements as described in section 29 of this chapter;

(4) a review of licensure actions in Indiana and 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 may have to maintain under 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 as 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) Examination fees as established by the department under IC 28-11-3-5.

(3) An annual renewal fee 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) The licensee may deduct the fees required under subsection (h)(1) and (h)(3) from the filing fees paid under IC 37-2-7-26.

(k) Except in a transaction approved under section 41 of this chapter, a license issued under this section is not assignable or transferable.

(l) 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: 24-4.5-3-503.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-29 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-29
"Loan processor or underwriter"
Status: in_force

Sec. 29. "Loan processor or underwriter" means an individual who performs clerical or support duties as an employee at the direction of, and subject to the supervision and instruction of, a person licensed to engage in mortgage transactions or a person exempt from licensing. For purposes of this subdivision, the term "clerical or support duties" may include, after the receipt of an application, the following:

(1) The receipt, collection, distribution, and analysis of information common for the processing or underwriting of a mortgage transaction.

(2) The communication with a consumer to obtain the information necessary for the processing or underwriting of a loan, to the extent that the communication does not include:

(A) offering or negotiating loan rates or terms; or

(B) counseling consumers about mortgage transaction rates or terms.

The term "loan processor or underwriter" does not include an individual who is an employee of a person that is not engaged in mortgage transactions as a creditor if that person is permitted to voluntarily register with the department to sponsor the individual under IC 37-1-1-6(8) to engage solely in the activities described in this subdivision. An individual engaging solely in loan processor or underwriter activities shall not represent to the public through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator. However, an individual who is licensed as a mortgage loan originator under IC 37-1 and 750 IAC 9-3, and who is sponsored by a person, as permitted by IC 37-1-1-6(8), to engage solely as a third party loan processor or underwriter, is subject to the prohibition set forth in this subdivision with respect to the individual's engagement under the sponsorship.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-2 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-2
Powers of department; no liability for conforming act or omission
Status: in_force

Sec. 2. (a) In addition to other powers granted by this article, the department within the limitations provided by law may:

(1) receive and act on complaints, take action designed to obtain voluntary compliance with this article, or commence proceedings on the department's own initiative;

(2) counsel persons and groups on their rights and duties under this article;

(3) establish programs for the education of consumers with respect to credit practices and problems;

(4) make studies appropriate to effectuate the purposes and policies of this article and make the results available to the public;

(5) adopt, amend, and repeal rules, orders, policies, and forms to carry out the provisions of this article;

(6) maintain more than one (1) office within Indiana; and

(7) appoint any necessary attorneys, hearing examiners, clerks, and other employees and agents and fix their compensation, and authorize attorneys appointed under this section to appear for and represent the department in court.

(b) Liability may not be imposed under this article for an act done or omitted in conformity with a rule, written notice, written opinion, written interpretation, or written directive of the department notwithstanding the fact that after the act is done or omitted the rule, written notice, written opinion, written interpretation, or written directive may be:

(1) amended or repealed; or

(2) determined by judicial or other authority to be invalid;

for any reason.

[Pre-2026 Revision Citation: 24-4.4-3-103.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-1 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-1
Duty to provide payoff amount; liability for failure to provide; prepayment penalty prohibited for adjustable rate mortgages; short sales; foreclosed property; no protection from deficiency judgment
Status: in_force

Sec. 1. (a) A creditor or mortgage servicer shall provide, in writing, an accurate payoff amount for a first lien mortgage transaction to the debtor not later than 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 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 an accurate payoff amount is liable for:

(1) one hundred dollars ($100) if an accurate payoff amount is not provided by the creditor or mortgage servicer not later than 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 loan finance charge that accrues on the first lien mortgage transaction from the date the creditor or mortgage servicer receives the first written request until the date on which the accurate payoff amount is provided;

if an accurate payoff amount is not provided by the creditor or mortgage servicer not later than 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 fails to comply with subdivision (1).

(b) This subsection applies to a first lien mortgage transaction, or the refinancing or consolidation of a first lien mortgage transaction, that:

(1) is closed after June 30, 2009; and

(2) has an interest rate that is subject to change at one (1) or more times during the term of the first lien mortgage transaction.

A creditor in a transaction to which this subsection applies may not contract for and may not charge the debtor a prepayment fee or penalty.

(c) This subsection applies to a first lien 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 first lien mortgage transaction unless the creditor, servicer, or creditor's agent obtains:

(1) the following statement: "The debtor remains liable for any amount still owed under the first lien 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 first lien mortgage transaction is sold for an amount that is less than the amount of the debtor's outstanding obligation under the first lien 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.

(d) 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: 24-4.4-2-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-27 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-27
"Mortgage servicer"
Status: in_force

Sec. 27. "Mortgage servicer" means the last person to whom a mortgagor or the mortgagor's successor in interest has been instructed by a mortgagee to send payments on a loan secured by a mortgage.

[Pre-2026 Revision Citation: 24-4.4-1-301(22).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-40 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-40
"Person related to" with respect to an organization
Status: in_force

Sec. 40. "Person related to" with respect to an organization means:

(1) a person directly or indirectly controlling, controlled by, or under common control with the organization;

(2) a director, an executive officer, or a manager of the organization or a person performing similar functions with respect to the organization or to a person related to the organization;

(3) the spouse of a person related to the organization; and

(4) a relative by blood or marriage of a person related to the organization who shares the same home with the person.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(35).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-2-6 — Indiana Code / Title 37 / Article 4 / Chapter 2 / Section 37-4-2-6
"Homeowner"
Status: in_force

Sec. 6. "Homeowner" means a person who holds record title to residential real property as of the date on which:

(1) a contract with a foreclosure consultant; or

(2) a foreclosure reconveyance agreement;

with respect to the residential real property is entered into.

[Pre-2026 Revision Citation: 24-5.5-2-6.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-2-8 — Indiana Code / Title 37 / Article 3 / Chapter 2 / Section 37-3-2-8
"Principal"
Status: in_force

Sec. 8. "Principal" means the total of:

(1) the net amount paid to, receivable by, or paid or payable from the account of the borrower; and

(2) to the extent that the payment is deferred, the additional charges permitted by this chapter that are not included in subdivision (1).

[Pre-2026 Revision Citation: 24-4.5-7-105.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-4-1-0.1 — Indiana Code / Title 37 / Article 4 / Chapter 1 / Section 37-4-1-0.1
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 § 37-2-4-35 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-35
Loan finance charge for supervised loans; precomputed supervised loans prohibited after June 30, 2020; nonrefundable prepaid finance charge; loan paid in full by new loan from same lender
Status: in_force

Sec. 35. (a) With respect to a supervised loan, including a loan pursuant to a revolving loan account, a supervised lender may contract for and receive a loan finance charge not exceeding that permitted by this section.

(b) The loan finance 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 principal 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 principal 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 principal which is more than four thousand dollars ($4,000); or

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

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

(1) the loan finance 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 13 of this chapter.

After June 30, 2020, a loan agreement may not be entered into for a precomputed supervised loan. The loan finance charge authorized by this section must be contracted for between the lender and the debtor, and must be calculated by applying a rate not exceeding the rate set forth in subsection (b) to unpaid balances of the principal.

(d) The term of a loan for the purposes of this section commences on the date the loan is made. 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 lender 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.

(e) Subject to classifications and differentiations the lender may reasonably establish, the lender may make the same loan finance charge on all principal amounts within a specified range. A loan finance charge does not violate subsection (b) if:

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

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

(f) The amounts of two thousand dollars ($2,000) and four thousand dollars ($4,000) in subsection (b) and thirty dollars ($30) in subsection (g) are subject to change pursuant to the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), for the adjustment of the amount of thirty dollars ($30), the Reference Base Index to be used is the Index for October 1992. Notwithstanding IC 37-2-1-5(a), for the adjustment of the amounts of two thousand dollars ($2,000) and four thousand dollars ($4,000), the Reference Base Index to be used is the Index for October 2012.

(g) With respect to a supervised loan not made pursuant to a revolving loan account, the lender may contract for and receive a minimum loan finance charge of not more than thirty dollars ($30). The minimum loan finance charge allowed under this subsection may be imposed only if the lender does not assess a nonrefundable prepaid finance charge under subsection (h) and:

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

(2) the loan, refinancing, or consolidation prepaid by the debtor is subject to a loan finance charge that:

(A) is contracted for by the parties; and

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

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

(h) Except as provided in subsections (g) and (j)(3), in addition to the loan finance charge provided for in this section and to any other charges and fees permitted by this chapter, the lender may contract for and receive a nonrefundable prepaid finance charge of not more than fifty dollars ($50) if the loan agreement is entered into before July 1, 2020. If the loan agreement is entered into after June 30, 2020, not more than the following:

(1) Seventy-five dollars ($75), in the case of a loan agreement for a principal amount which is two thousand dollars ($2,000) or less.

(2) One hundred fifty dollars ($150) in the case of a loan agreement for a principal amount which is more than two thousand dollars ($2,000) but does not exceed four thousand dollars ($4,000).

(3) Two hundred dollars ($200) in the case of a loan agreement for a principal amount which is more than four thousand dollars ($4,000).

The amounts in this subsection are not subject to change under IC 37-2-1-5.

(i) The nonrefundable prepaid finance charge provided for in subsection (h) is not subject to refund or rebate. However, for any supervised loan entered into after June 30, 2020, any amount charged by the lender, other than by a lender that is a depository institution, under subsection (h) that exceeds the applicable amount permitted by subsection (h) 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 subsection (h) that exceeds the applicable amount set forth in subsection (h) is subject to refund.

(j) Notwithstanding subsections (h) and (i), in the case of a supervised loan that is not secured by an interest in land, if a lender retains any part of a nonrefundable prepaid finance charge charged on a loan that is paid in full by a new loan from the same lender, the following apply:

(1) If the loan is paid in full by the new loan within three (3) months after the date of the prior loan, the lender may not charge a nonrefundable prepaid finance charge on the new loan, or, in the case of a revolving loan, on the increased credit line.

(2) The lender may not assess more than two (2) nonrefundable prepaid finance charges in any twelve (12) month period.

(3) Subject to subdivisions (a) and (b), if a supervised loan that is entered into by a lender and a debtor before July 1, 2020, is paid in full by a new loan from the same lender after June 30, 2020, the lender may contract for and receive a nonrefundable prepaid finance charge in the amount set forth in subsection (h) for loan agreements entered into after June 30, 2020.

(k) In the case of a supervised loan that is secured by an interest in land, this section does not prohibit a lender from contracting for and receiving a fee for preparing deeds, mortgages, reconveyances, and similar documents under section 5(a)(4)(B) of this chapter, in addition to the nonrefundable prepaid finance charge provided for in subsection (h).

[Pre-2026 Revision Citation: 24-4.5-3-508.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-35 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-35
"Registered mortgage loan originator"
Status: in_force

Sec. 35. "Registered mortgage loan originator" means any individual who:

(1) meets the definition of mortgage loan originator and is an employee of:

(A) a depository institution;

(B) a subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or

(C) an institution regulated by the Farm Credit Administration; and

(2) is registered with, and maintains a unique identifier through, the NMLSR.

[Pre-2026 Revision Citation: 24-4.4-1-301(31).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-6 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-6
Waiver; agreement to forego rights; settlement of claims
Status: in_force

Sec. 6. (a) Except as otherwise provided in this article, a buyer, lessee, or debtor may not waive or agree to forego rights or benefits under this article.

(b) A claim by a buyer, lessee, or debtor against a creditor for an excess charge, other violation of this article, or civil penalty, or a claim against a buyer, lessee, or debtor for default or breach of a duty imposed by this article, if disputed in good faith, may be settled by agreement.

(c) A claim, whether or not disputed against a buyer, lessee, or debtor may be settled for less value than the amount claimed.

(d) A settlement in which the buyer, lessee, or debtor waives or agrees to forego rights or benefits under this article is invalid if the court as a matter of law finds the settlement to have been unconscionable at the time it was made. The competence of the buyer, lessee, or debtor, any deception or coercion practiced upon the buyer, lessee, or debtor, the nature and extent of the legal advice received by the buyer, lessee, or debtor, and the value of the consideration are relevant to the issue of unconscionability.

[Pre-2026 Revision Citation: 24-4.5-1-107.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-15 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-15
"Dwelling"
Status: in_force

Sec. 15. "Dwelling" means a residential structure that contains one (1) to four (4) units, regardless of whether the structure is attached to real property. The term includes an individual:

(1) condominium unit;

(2) cooperative unit;

(3) mobile home; or

(4) trailer;

that is used as a residence.

[Pre-2026 Revision Citation: 24-4.4-1-301(11).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-13 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-13
Filing and approval of rates and forms
Status: in_force

Sec. 13. (a) A creditor may not use a form, or a schedule of premium rates or charges, the filing of which is required by this section, if the insurance commissioner has disapproved the form or schedule and has notified the insurer of the insurance commissioner's disapproval. A creditor may not use a form or schedule unless:

(1) the form or schedule has been on file with the insurance commissioner for thirty (30) days, or has earlier been approved by the commissioner; and

(2) the insurer has complied with this section with respect to the insurance.

(b) Except as provided in subsection (c), all policies, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements and riders relating to consumer credit insurance delivered or issued for delivery in this state, and the schedules of premium rates or charges pertaining thereto, shall be filed by the insurer with the insurance commissioner. Within thirty (30) days after the filing of any form or schedule, the commissioner shall disapprove it if the premium rates or charges are unreasonable in relation to the benefits provided under the form, or if the form contains provisions which are unjust, unfair, inequitable, or deceptive, or encourage misrepresentation of the coverage, or are contrary to any provision of IC 27 or of any rule promulgated under IC 27.

(c) If a group policy has been delivered in another state, the forms to be filed by the insurer with the insurance commissioner are the group certificates and notices of proposed insurance. The commissioner shall approve them if:

(1) they provide the information that would be required if the group policy were delivered in this state; and

(2) the applicable premium rates or charges do not exceed those established by the commissioner's rules.

[Pre-2026 Revision Citation: 24-4.5-4-203.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-5-7-2 — Indiana Code / Title 37 / Article 5 / Chapter 7 / Section 37-5-7-2
Political subdivisions; prohibited practices
Status: in_force

Sec. 2. Political subdivisions may not:

(1) enact, issue, or enforce ordinances, resolutions, regulations, orders, requests for proposals, or requests for bids pertaining to financial or lending activities, including ordinances, resolutions, and rules that disqualify persons from doing business with a municipality and that are based upon lending terms or practices; or

(2) impose reporting requirements or any other obligations upon persons regarding financial services or lending practices or upon subsidiaries or affiliates that:

(A) are subject to the jurisdiction of the department of financial institutions;

(B) are subject to the jurisdiction or regulatory supervision of the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Federal Deposit Insurance Corporation, the Federal Trade Commission, or the United States Department of Housing and Urban Development;

(C) are chartered by the United States Congress to engage in secondary market mortgage transactions;

(D) are created by the Indiana housing and community development authority; or

(E) originate, purchase, sell, assign, securitize, or service property interests or obligations created by financial transactions or loans made, executed, originated, or purchased by persons referred to in clause (A), (B), (C), or (D).

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-34 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-34
"Real estate brokerage activity"
Status: in_force

Sec. 34. "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 engaged in the activity 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: 24-4.4-1-301(30).]

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

Sec. 2. "Benchmark rate" means the interest rate established under Section 152 of the Federal Home Ownership and Equity Protection Act of 1994 (15 U.S.C. 1602 (aa)) and the regulations adopted under that act by the Federal Reserve Board, including 12 CFR 226.32 and the Official Staff Commentary to the regulations as amended.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-21 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-21
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. 21. (a) This section applies to consumer loans, including revolving loan 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: 24-4.5-3-408.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-3 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-3
Unified coverage of subject matter; construction against implied repeal
Status: repealed

Sec. 3. This article is a general statute intended as a unified coverage of its subject matter. No part of this article may be considered to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.

[Pre-2026 Revision Citation: 24-4.4-1-103.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-0.5 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-0.5
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 24-4.5 (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 § 37-2-4-17 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-17
Attorney's fees
Status: in_force

Sec. 17. With respect to a consumer loan the agreement may provide for the payment by the debtor of reasonable attorney's fees after default and referral to an attorney not a salaried employee of the lender. A provision in violation of this section is unenforceable.

[Pre-2026 Revision Citation: 24-4.5-3-404.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-4-7 — Indiana Code / Title 37 / Article 1 / Chapter 4 / Section 37-1-4-7
Cease and desist orders; judicial review or enforcement proceedings; record; appeal; unconscionable or fraudulent conduct subject to injunction
Status: in_force

Sec. 7. (a) After notice and hearing, 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. In any civil court with jurisdiction:

(1) a respondent aggrieved by an order of the department may obtain judicial review of the order; and

(2) the department may obtain an order of the court for the enforcement of the department's order.

A proceeding for review or enforcement under this subsection shall be initiated by the filing of a petition in the court. Copies of the petition shall be served upon all parties of record.

(b) Not later than thirty (30) days after service of a petition for review upon the department under subsection (a), or within such further time as 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 that is the subject of the review 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 conducting a hearing on the matter, 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 in the whole record;

(2) grant any temporary relief or restraining order the court considers just; and

(3) enter an order:

(A) enforcing;

(B) modifying;

(C) enforcing as modified; or

(D) setting aside;

in whole or in part, the order of the department; or

(4) enter an order 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:

(1) adducing additional specified and material evidence; and

(2) seeking a finding upon such evidence;

upon good cause shown for the failure to previously adduce this evidence before the department.

(d) The jurisdiction of the court is exclusive and the court's final judgment or decree is subject to review 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 not later than thirty (30) days after a copy of the order of the department is received. If a proceeding is not initiated within the time set forth in this subsection, the department may obtain a decree of a civil court with jurisdiction for enforcement of the department's order upon a showing that:

(1) the order was issued in compliance with this section;

(2) a proceeding for review was not initiated within the thirty (30) day period prescribed by this subsection; and

(3) the respondent is subject to the jurisdiction of the court.

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

[Pre-2026 Revision Citation: 24-4.4-3-106.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-1-7 — Indiana Code / Title 37 / Article 1 / Chapter 1 / Section 37-1-1-7
Persons also engaging in activities of a loan broker; examination by department; cooperation with securities division
Status: in_force

Sec. 7. (a) If a person licensed or required to be licensed by the department to engage in mortgage transactions also engages in activities of a loan broker described in IC 23-2.5, the activities of a loan broker are subject to the following sections of the Indiana Code and any rules adopted to implement these sections:

(1) IC 23-2.5-8-1, except for IC 23-2.5-8-1(b)(2).

(2) IC 23-2.5-8-2.

(3) IC 23-2.5-11-15(b) and IC 23-2.5-11-15(c).

(4) IC 23-2.5-11-17.

(5) IC 23-2.5-8-3.

(6) IC 23-2.5-8-4 through IC 23-2.5-8-9.

(7) IC 23-2.5-8-10.

(8) IC 23-2.5-10-1.

(9) IC 23-2.5-9-1.

(10) IC 23-2.5-11-16.

(b) Loan broker business transactions engaged in by persons licensed or required to be licensed by the department to engage in mortgage transactions are subject to examination by the department and to the examination fees described in IC 37-1-3-5(h)(3). The department may cooperate with the securities division of the office of the secretary of state in the department's examination of loan broker business transactions and may use the securities division's examiners to conduct examinations.

[Pre-2026 Revision Citation: 24-4.4-1-202.5.]

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

Sec. 31. "Mortgage servicer" means the last person to whom a mortgagor or the mortgagor's successor in interest has been instructed by a mortgagee to send payments on a loan secured by a mortgage.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(26).]

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

Sec. 2. "Foreclosure consultant" means a person who, directly or indirectly, makes a solicitation, a representation, or an offer to a homeowner to perform, with or without compensation, any service that the person represents will:

(1) prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding;

(2) allow the homeowner to become a lessee or renter in the homeowner's residence during or after a foreclosure proceeding; or

(3) allow the homeowner to have an option to repurchase the homeowner's residence after a foreclosure proceeding.

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

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

Sec. 2. (a) A creditor may not knowingly or intentionally replace or consolidate a zero (0) interest rate or other subsidized low rate loan made by a governmental or nonprofit lender with a high cost home loan within the first ten (10) years of the subsidized low rate loan unless the current holder of the loan consents in writing to the refinancing.

(b) For purposes of this section, a "subsidized low rate loan" is a loan that carries a current interest rate of at least two (2) percentage points below the current yield on treasury securities with a comparable maturity. If the loan's current interest rate is either a discounted introductory rate or a rate that automatically steps up over time, the fully indexed rate or the fully stepped up rate, as appropriate, should be used instead of the current rate to determine whether a loan is a subsidized low rate loan.

(c) Each mortgage or deed of trust securing a zero (0) interest rate or other subsidized low rate loan executed after January 1, 2005, must prominently display the following on the face of the instrument:

"This instrument secures a zero (0) interest rate or other subsidized low rate loan subject to IC 37-5-3-2.".

(d) A creditor may reasonably rely on the presence or absence of the statement described in subsection (c) on the face of an instrument executed after January 1, 2005, as conclusive proof of the existence or nonexistence of a zero (0) interest rate or other subsidized low rate loan.

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

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-3-3-15 — Indiana Code / Title 37 / Article 3 / Chapter 3 / Section 37-3-3-15
Surety bond; requirements; amount; termination; liability; notices
Status: in_force

Sec. 15. (a) A person engaged in making small loans under this chapter shall post a bond to the department in the amount of fifty thousand dollars ($50,000) for each location where small loans will be made, up to a maximum bond in an amount determined by the director.

(b) A surety bond issued under this section must:

(1) provide coverage for a lender engaged in making small loans under this chapter in an amount as prescribed in subsection (a);

(2) be in a form prescribed by the director;

(3) be in effect during the term of the lender's license under this chapter;

(4) subject to subsection (c), remain in effect during the two (2) years after the lender's license under this chapter is surrendered or terminated;

(5) be payable to the department for the benefit of:

(A) the state; and

(B) individuals who reside in Indiana when they agree to receive financial services from the lender;

(6) be issued by a bonding, surety, or insurance company authorized to do business in Indiana and rated at least "A-" by at least one (1) nationally recognized investment rating service; and

(7) have payment conditioned upon the lender's or any of the lender's employees' or agents' noncompliance with or violation of this article or other applicable federal or state laws or regulations.

(c) The director may adopt rules or guidance documents with respect to the requirements for a surety bond as necessary to accomplish the purposes of this chapter. Upon written request from a lender, the director may, at the discretion of the director, waive or shorten the two (2) year period set forth in subsection (b)(4) during which a surety bond required by this section must remain in effect after the lender's license under this chapter is surrendered or terminated.

(d) If the principal amount of a surety bond required under this section is reduced by payment of a claim or judgment, the lender for whom the bond is issued shall immediately notify the director of the reduction and, not later than thirty (30) days after notice by the director, file a new or an additional surety bond in an amount set by the director. The amount of the new or additional bond set by the director must be at least the amount of the bond before payment of the claim or judgment.

(e) If for any reason a surety terminates a bond issued under this section, the lender shall immediately notify the department and file a new surety bond in an amount as prescribed in subsection (a).

(f) Cancellation of a surety bond issued under this section does not affect any liability incurred or accrued during the period when the surety bond was in effect.

(g) The director may obtain satisfaction from a surety bond issued under this section if the director incurs expenses, issues a final order, or recovers a final judgment under this chapter.

(h) Notices required under this section must be in writing and delivered by certified mail, return receipt requested and postage prepaid, or by overnight delivery using a nationally recognized carrier.

[Pre-2026 Revision Citation: 24-4.5-7-413.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-21 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-21
"Federal banking agencies"
Status: in_force

Sec. 21. "Federal banking agencies" means the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Federal Deposit Insurance Corporation.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(17).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-2-26 — Indiana Code / Title 37 / Article 1 / Chapter 2 / Section 37-1-2-26
"Mortgage loan originator"
Status: in_force

Sec. 26. "Mortgage loan originator" means an individual who, for compensation or gain, or in the expectation of compensation or gain, regularly engages in taking a mortgage transaction application or in offering or negotiating the terms of a mortgage transaction that either is made under this article or under IC 37-2 is made by an employee of a person licensed to engage in mortgage transactions or by an employee of a person that is exempt from licensing, while the employee is engaging in the loan brokerage business. The term does not include the following:

(1) An individual engaged solely as a loan processor or underwriter as long as the individual works exclusively as an employee of a person licensed to engage in mortgage transactions or as an employee of a person exempt from licensing. However, the term includes an individual who is licensed as a mortgage loan originator under this article and 750 IAC 9-3 and who is an employee of a person that is not engaged in mortgage transactions as a creditor if that person voluntarily registers with the department to sponsor the individual under IC 37-1-1-6(8) to engage solely as a third party processor or underwriter.

(2) Unless the person or entity is compensated by:

(A) a creditor;

(B) a loan broker;

(C) another mortgage loan originator; or

(D) any agent of a creditor, a loan broker, or another mortgage loan originator described in clauses (A) through (C);

a person or entity that performs only real estate brokerage activities and is licensed or registered in accordance with applicable state law.

(3) A person solely involved in extensions of credit relating to timeshare plans (as defined in 11 U.S.C. 101(53D)).

[Pre-2026 Revision Citation: 24-4.4-1-301(21).]

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

Sec. 3. A foreclosure purchaser may not enter into or attempt to enter into a foreclosure reconveyance agreement with a homeowner unless the:

(1) foreclosure purchaser verifies and demonstrates that the homeowner has or will have a reasonable ability to:

(A) pay for the subsequent reconveyance of the property back to the homeowner on completion of the terms of the foreclosure conveyance; or

(B) if the foreclosure conveyance provides for a lease with an option to repurchase the real property, make the lease payment and repurchase the real property within the period of the option to repurchase;

(2) foreclosure purchaser provides the homeowner written notice of the homeowner's rights under this article;

(3) foreclosure purchaser and the homeowner complete a formal settlement before any transfer of interest in the affected property; and

(4) foreclosure purchaser complies with the security requirements under IC 24-5-15-8.

[Pre-2026 Revision Citation: 24-5.5-5-3.]

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

Sec. 8. A foreclosure consultant may not represent to a homeowner that the foreclosure consultant is endorsed, sponsored, or affiliated with any governmental or government sponsored agency or program.

[Pre-2026 Revision Citation: 24-5.5-5-8.]

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

Sec. 2. (a) Finance charges on the first two hundred fifty dollars ($250) of a small loan are limited to fifteen percent (15%) of the principal.

(b) Finance charges on the amount of a small loan greater than two hundred fifty dollars ($250) and less than or equal to four hundred dollars ($400) are limited to thirteen percent (13%) of the amount over two hundred fifty dollars ($250) and less than or equal to four hundred dollars ($400).

(c) Finance charges on the amount of the small loan greater than four hundred dollars ($400) and less than or equal to five hundred fifty dollars ($550) are limited to ten percent (10%) of the amount over four hundred dollars ($400) and less than or equal to five hundred fifty dollars ($550).

(d) The amount of five hundred fifty dollars ($550) in subsection (c) is subject to change under the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 2006.

[Pre-2026 Revision Citation: 24-4.5-7-201.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-7 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-7
Effect on powers of organizations
Status: in_force

Sec. 7. (a) This article prescribes maximum charges for all creditors, except lessors and those excluded under section 10 of this chapter, extending consumer credit, including consumer credit sales, consumer loans, and consumer related sales and loans, and displaces existing limitations on the powers of those creditors based on maximum charges.

(b) With respect to sellers of goods or services, small loan companies, licensed lenders, consumer and sales finance companies, industrial loan and investment companies, and commercial banks and trust companies, this article displaces existing limitations on their powers based solely on amount or duration of credit.

(c) Except as provided in subsection (a) and IC 24-4.6-1, this article does not displace limitations on powers of credit unions, savings banks, savings or building and loan associations, or other thrift institutions whether organized for the profit of shareholders or as mutual organizations.

(d) Except as provided in subsections (a) and (b), this article does not displace:

(1) limitations on powers of depository institutions with respect to the amount of a loan to a single borrower, the ratio of a loan to the value of collateral, the duration of a loan that is a mortgage transaction, or other similar restrictions designed to protect deposits; or

(2) limitations on powers an organization is authorized to exercise under the laws of this state or the United States.

[Pre-2026 Revision Citation: 24-4.5-1-108.]

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

Sec. 5. A high cost home loan may not contain a provision that increases the interest rate after default. However, this section does not apply to interest rate changes in a variable rate loan otherwise consistent with the provisions of the high cost home loan documents if the change in the interest rate is not triggered by the event of default or the acceleration of the indebtedness.

[Pre-2026 Revision Citation: 24-9-4-5.]

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

Sec. 14. (a) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:

(1) the insurance covers a substantial risk of loss of or damage to property related to the credit transaction;

(2) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and

(3) the term of the insurance is reasonable in relation to the terms of credit.

(b) The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.

(c) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless the amount financed or principal exclusive of charges for the insurance is three hundred dollars ($300) or more, and the value of the property is three hundred dollars ($300) or more.

(d) The amounts of three hundred dollars ($300) in subsection (c) 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 1992.

[Pre-2026 Revision Citation: 24-4.5-4-301.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-1-3-16 — Indiana Code / Title 37 / Article 1 / Chapter 3 / Section 37-1-3-16
Final order; effective date; authority of department or court to stay, modify, or vacate
Status: in_force

Sec. 16. (a) A final order issued under this chapter is effective on the eleventh day after service of the order. However, a final order issued upon consent under section 14 of this chapter is effective at the time specified in the order.

(b) A final order remains effective and enforceable as provided in the order.

(c) The department or a reviewing court may stay, modify, or vacate a final order.

[Pre-2026 Revision Citation: 24-4.4-2-404.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-6-4 — Indiana Code / Title 37 / Article 2 / Chapter 6 / Section 37-2-6-4
Limitation on garnishment and proceedings supplemental to execution; employer's fee
Status: in_force

Sec. 4. (a) For the purposes of sections 1 through 7 of this chapter:

(1) "disposable earnings" means that part of the earnings of an individual, including wages, commissions, income, rents, or profits remaining after the deduction from those earnings of amounts required by law to be withheld;

(2) "garnishment" means any legal or equitable proceedings through which the earnings of an individual are required to be withheld by a garnishee, by the individual debtor, or by any other person for the payment of a judgment; and

(3) "support withholding" means that part of the earnings that are withheld from an individual for child support in accordance with the laws of this state.

(b) Except as provided in subsection (h), the maximum part of the aggregate disposable earnings of an individual for any workweek which is subjected to garnishment to enforce the payment of one (1) or more judgments against the individual may not exceed the lesser of the following amounts:

(1) An amount equal to twenty-five percent (25%) of the individual's disposable earnings for that week or, upon a showing of good cause by the individual why the amount should be reduced, an amount equal to:

(A) less than twenty-five percent (25%); and

(B) at least ten percent (10%);

of the individual's disposable earnings for that week.

(2) The amount by which the individual's disposable earnings for that week exceed thirty (30) times the federal minimum hourly wage prescribed by 29 U.S.C. 206(a)(1) in effect at the time the earnings are payable.

In the case of earnings for a pay period other than a week, the earnings shall be computed upon a multiple of the federal minimum hourly wage equivalent to thirty (30) times the federal minimum hourly wage as prescribed in this section.

(c) The maximum part of the aggregate disposable earnings of an individual for any workweek which is subject to garnishment or support withholding to enforce any order for the support of any person shall not exceed:

(1) where such individual is supporting the individual's spouse or dependent child (other than a spouse or child with respect to whose support such order is used), fifty percent (50%) of such individual's disposable earnings for that week; and

(2) where such individual is not supporting such a spouse or dependent child described in subdivision (1), sixty percent (60%) of such individual's disposable earnings for that week;

except that, with respect to the disposable earnings of any individual for any workweek, the fifty percent (50%) specified in subdivision (1) shall be deemed to be fifty-five percent (55%) and the sixty percent (60%) specified in subdivision (2) shall be deemed to be sixty-five percent (65%), if and to the extent that such earnings are subject to garnishment or support withholding to enforce a support order with respect to a period which is prior to the twelve (12) week period which ends with the beginning of such workweek.

(d) No court may make, execute, or enforce an order or process in violation of this section.

(e) An employer who is required to make deductions from an individual's disposable earnings pursuant to a garnishment order or series of orders arising out of the same judgment debt (excluding a judgment for payment of child support) may collect, as a fee to compensate the employer for making these deductions, an amount equal to the greater of twelve dollars ($12) or three percent (3%) of the total amount required to be deducted by the garnishment order or series of orders arising out of the same judgment debt. If the employer chooses to impose a fee, the fee shall be allocated as follows:

(1) One-half (1/2) of the fee shall be borne by the debtor, and that amount may be deducted by the employer directly from the employee's disposable earnings.

(2) One-half (1/2) of the fee shall be borne by the creditor, and that amount may be retained by the employer from the amount otherwise due the creditor.

The deductions made under this subsection for a collection fee do not increase the amount of the judgment debt for which the fee is collected for the purpose of calculating or collecting judgment interest. This fee may be collected by an employer only once for each garnishment order or series of orders arising out of the same judgment debt. The employer may collect the entire fee from one (1) or more of the initial deductions from the employee's disposable earnings. Alternatively, the employer may collect the fee ratably over the number of pay periods during which deductions from the employee's disposable earnings are required.

(f) The deduction of the garnishment collection fee under subsection (e)(1) or subsection (g) is not an assignment of wages under IC 22-2-6.

(g) An employer who is required to make a deduction from an individual's disposable earnings in accordance with a judgment for payment of child support may collect a fee of two dollars ($2) each time the employer is required to make the deduction. The fee may be deducted by the employer from the individual's disposable earnings each time the employer makes the deduction for support. If the employer elects to deduct such a fee, the amount to be deducted for the payment of support must be reduced accordingly if necessary to avoid exceeding the maximum amount permitted to be deducted under subsection (c).

(h) A support withholding order takes priority over a garnishment order irrespective of their dates of entry or activation. If a person is subject to a support withholding order and a garnishment order, the garnishment order shall be honored only to the extent that disposable earnings withheld under the support withholding order do not exceed the maximum amount subject to garnishment as computed under subsection (b).

[Pre-2026 Revision Citation: 24-4.5-5-105.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-4-30 — Indiana Code / Title 37 / Article 2 / Chapter 4 / Section 37-2-4-30
Use of NMLSR in department's licensing system for subordinate lien mortgage transactions; reporting of information to NMLSR; confidentiality; director's authority to enter agreements; waiver of privilege processing fee; electronic records
Status: in_force

Sec. 30. (a) Subject to subsection (g), the director shall designate the NMLSR to serve as the sole entity responsible for:

(1) processing applications and renewals for licenses under section 24 of this chapter;

(2) issuing unique identifiers for licensees under section 24 of this chapter and for persons exempt from licensing (either under this article or under IC 37-1-1-6(8)) that employ licensed mortgage loan originators or that sponsor licensed mortgage loan originators as permitted by IC 37-1-1-6(8) or by 750 IAC 9; and

(3) performing other services that the director determines necessary for the orderly administration of the department's licensing system under section 24 of this chapter.

(b) Subject to the confidentiality provisions contained in IC 5-14-3, this section, and IC 28-1-2-30, the director may regularly report significant or recurring violations of this article related to subordinate lien mortgage transactions to the NMLSR.

(c) Subject to the confidentiality provisions contained in IC 5-14-3, this section, and IC 28-1-2-30, the director may report complaints received regarding licensees and relating to subordinate lien mortgage transactions to the NMLSR.

(d) The director may report publicly adjudicated licensure actions against licensees under section 24 of this chapter to the NMLSR.

(e) The director shall establish a process in which persons licensed in accordance with section 24 of this chapter may challenge information reported to the NMLSR by the department.

(f) The director's authority to designate the NMLSR under subsection (a) is subject to the following:

(1) Information stored in the NMLSR is subject to the confidentiality provisions of IC 28-1-2-30 and IC 5-14-3. A person may not:

(A) obtain information from the NMLSR unless the person is authorized to do so by statute;

(B) initiate any civil action based on information obtained from the NMLSR if the information is not otherwise available to the person under any other state law; or

(C) initiate any civil action based on information obtained from the NMLSR if the person could not have initiated the action based on information otherwise available to the person under any other state law.

(2) Documents, materials, and other forms of information in the control or possession of the NMLSR that are confidential under IC 28-1-2-30 and that are:

(A) furnished by the director, the director's designee, or a licensee; or

(B) otherwise obtained by the NMLSR;

are confidential and privileged by law and are not subject to inspection under IC 5-14-3, subject to subpoena, subject to discovery, or admissible in evidence in any civil action. However, the director may use the documents, materials, or other information available to the director in furtherance of any action brought in connection with the director's duties under this article.

(3) Disclosure of documents, materials, and information:

(A) to the director; or

(B) by the director;

under this subsection does not result in a waiver of any applicable privilege or claim of confidentiality with respect to the documents, materials, or information.

(4) Information provided to the NMLSR is subject to IC 4-1-11.

(5) This subsection does not limit or impair a person's right to:

(A) obtain information;

(B) use information as evidence in a civil action or proceeding; or

(C) use information to initiate a civil action or proceeding;

if the information may be obtained from the director or the director's designee under any law.

(6) Except as otherwise provided in the federal Housing and Economic Recovery Act of 2008, Public Law 110-289, Section 1512, the requirements under any federal law or IC 5-14-3 regarding the privacy or confidentiality of any information or material provided to the NMLSR, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to the information or material, continue to apply to the information or material after the information or material has been disclosed to the NMLSR. The information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or IC 5-14-3.

(7) For purposes of this section, the director may enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or other associations representing governmental agencies as established by rule or order of the director.

(8) Information or material that is subject to a privilege or confidentiality under subdivision (6) is not subject to:

(A) disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or

(B) subpoena, discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the NMLSR with respect to the information or material, the person to whom the information or material pertains waives, in whole or in part, in the discretion of the person, that privilege.

(9) Any provision of IC 5-14-3 that concerns the disclosure of:

(A) confidential supervisory information; or

(B) any information or material described in subdivision (6);

and that is inconsistent with subdivision (6) is superseded by this section.

(10) This section does not apply with respect to information or material that concerns the employment history of, and publicly adjudicated disciplinary and enforcement actions against, a person licensed in accordance with section 24 of this chapter and described in section 26(b) of this chapter and that is included in the NMLSR for access by the public.

(11) The director may require a licensee required to submit information to the NMLSR to pay a processing fee considered reasonable by the director. In determining whether an NMLSR processing fee is reasonable, the director shall:

(A) require review of; and

(B) make available;

the audited financial statements of the NMLSR.

(g) Notwithstanding any other provision of law, any:

(1) application, renewal, or other form or document that:

(A) relates to mortgage licenses issued by the department; and

(B) is made or produced in an electronic format;

(2) document filed as an electronic record in a multistate automated repository established and operated for the licensing or registration of mortgage lenders, brokers, or loan originators; or

(3) electronic record filed through the NMLSR;

is considered a valid original document when reproduced in paper form by the department.

[Pre-2026 Revision Citation: 24-4.5-3-503.4.]

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

Sec. 38. "Person" includes an individual or an organization.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(33).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-28 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-28
Buyer's right to cancel
Status: in_force

Sec. 28. The requirements of 16 CFR 429 must be met in regard to the following provisions concerning a home solicitation sale:

(1) Period within which cancellation may be made by the buyer.

(2) Notice of cancellation.

(3) Form of cancellation.

(4) Form of agreement or offer to purchase.

(5) Statement of buyer's rights.

(6) Restoration of down payment.

(7) Retention of cancellation fee.

(8) Duty of buyer.

(9) Any other relevant requirements in 16 CFR 429.

[Pre-2026 Revision Citation: 24-4.5-2-502.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-1-0.3 — Indiana Code / Title 37 / Article 2 / Chapter 1 / Section 37-2-1-0.3
Contracts entered into under prior law
Status: in_force

Sec. 0.3. A contract entered into in accordance with IC 24-4.5 (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 § 37-2-3-9 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-9
Credit service charge on consolidation
Status: in_force

Sec. 9. If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation with the same seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following:

(1) The parties may agree to refinance the unpaid balance with respect to the previous sale pursuant to the provisions on refinancing (section 8 of this chapter) and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent sale. The seller may contract for and receive a credit service charge based on the aggregate amount financed resulting from the consolidation at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (section 4 of this chapter).

(2) The parties may agree to consolidate by adding together the unpaid balances with respect to the two sales.

[Pre-2026 Revision Citation: 24-4.5-2-206.]

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

Sec. 7. (a) With respect to a consumer credit sale, consumer lease, or consumer loan, if the court as a matter of law finds the agreement or any clause of the agreement to have been unconscionable at the time it was made the court may refuse to enforce the agreement, or it may enforce the remainder of the agreement without the unconscionable clause, or it may so limit the application of any unconscionable clause as to avoid any unconscionable result.

(b) If it is claimed or appears to the court that the agreement or any clause thereof may be unconscionable the parties shall be afforded a reasonable opportunity to present evidence as to its setting, purpose, and effect to aid the court in making the determination.

(c) For the purpose of this section, a charge or practice expressly permitted by this article is not in itself unconscionable.

[Pre-2026 Revision Citation: 24-4.5-5-108.]

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

Sec. 19. "Earnings" means compensation paid or payable for personal services, whether denominated as wages, salary, commission, bonus, or otherwise, and includes periodic payments under a pension or retirement program.

[Pre-2026 Revision Citation: 24-4.5-1-301.5(15).]

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

Sec. 4. "Borrower" means a person obligated to repay a home loan, including a coborrower, cosigner, or guarantor.

[Pre-2026 Revision Citation: 24-9-2-4.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-15.5 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-15.5
"Debt cancellation agreement"
Status: in_force

Sec. 15.5. "Debt cancellation agreement" means an agreement that provides coverage for payment or satisfaction of all or part of a debt in the event of the loss of life, health, or income. The term does not include a GAP agreement.

[Pre-2026 Revision Citation: 24-4.5-3-202(4).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-3-18 — Indiana Code / Title 37 / Article 2 / Chapter 3 / Section 37-2-3-18
Leasing of live domestic animals prohibited
Status: in_force

Sec. 18. The leasing of live domestic animals (as defined in IC 34-30-30-1) under this chapter is prohibited.

[Pre-2026 Revision Citation: 24-4.5-2-407.5.]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-2-30 — Indiana Code / Title 37 / Article 2 / Chapter 2 / Section 37-2-2-30
"Mortgage loan originator"
Status: in_force

Sec. 30. "Mortgage loan originator" means an individual who, for compensation or gain, or in the expectation of compensation or gain, regularly engages in taking a mortgage transaction application or in offering or negotiating the terms of a mortgage transaction that either is made under this article or under IC 37-1 or is made by an employee of a person licensed to engage in mortgage transactions or by an employee of a person that is exempt from licensing, while the employee is engaging in the loan brokerage business. The term does not include the following:

(1) An individual engaged solely as a loan processor or underwriter as long as the individual works exclusively as an employee of a person licensed to engage in mortgage transactions or as an employee of a person exempt from licensing. However, the term includes an individual who is licensed as a mortgage loan originator under IC 37-1-1 and 750 IAC 9-3 and who is an employee of a person that is not engaged in mortgage transactions as a creditor if that person voluntarily registers with the department to sponsor the individual under IC 37-1-1-6(8), to engage solely as a third party processor or underwriter.

(2) Unless the person or entity is compensated by:

(A) a creditor;

(B) a loan broker;

(C) another mortgage loan originator; or

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

a person or entity that only performs real estate brokerage activities and is licensed or registered in accordance with applicable state law.

(3) A person solely involved in extensions of credit relating to timeshare plans (as defined in 11 U.S.C. 101(53D)).

[Pre-2026 Revision Citation: 24-4.5-1-301.5(25).]

As added by P.L.115-2026, SEC.97.
Ind. Code § 37-2-5-6 — Indiana Code / Title 37 / Article 2 / Chapter 5 / Section 37-2-5-6
Prepayment by proceeds of consumer credit insurance; refund required; documentation; amount; interest; civil penalty
Status: in_force

Sec. 6. (a) Upon prepayment in full of a consumer credit sale or consumer loan by the proceeds of consumer credit insurance, the debtor or the debtor's estate is entitled to a refund of:

(1) any portion of a separate charge for insurance which by reason of prepayment is retained by the creditor or returned to the creditor by the insurer unless the charge was computed from time to time on the basis of the balances of the debtor's account; and

(2) any portion of an additional charge that is:

(A) assessed in accordance with IC 37-2-3-5(a)(3), IC 37-2-3-5(a)(8), IC 37-2-3-5(a)(5), or IC 37-2-4-5(a)(11); and

(B) subject to rebate upon prepayment.

(b) This chapter does not require a creditor to grant a refund or credit to the debtor if all refunds and credits due to the debtor under this chapter amount to less than one dollar ($1), and except as provided in subsection (a) does not require the creditor to account to the debtor for any portion of a separate charge for insurance because:

(1) the insurance is terminated by performance of the insurer's obligation;

(2) the creditor pays or accounts for premiums to the insurer in amounts and at times determined by the agreement between them; or

(3) the creditor receives directly or indirectly under any policy of insurance a gain or advantage not prohibited by law.

(c) Except as provided in subsection (b), the creditor or the creditor's assignee shall promptly make an appropriate refund or credit to the debtor for any separate charge made for insurance or for an additional charge described in subsection (a)(2) if:

(1) the insurance is not provided or is provided for a term shorter than the term for which the charge to the debtor for insurance was computed; or

(2) the insurance or the protection provided in exchange for the additional charge described in subsection (a)(2) terminates prior to the end of the scheduled term of the coverage because of prepayment in full or otherwise.

(d) An initial creditor, a subsequent creditor, or an assignee of an initial or a subsequent creditor, shall maintain documentation of any account that is subject to a refund or credit under this section. The information maintained under this subsection shall be made available to the department as necessary to determine compliance with this section.

(e) A refund or credit required by subsection (c)(1) is appropriate as to amount if it is computed according to a method prescribed or approved by the insurance commissioner or a formula filed by the insurer with the insurance commissioner at least thirty (30) days before the debtor's right to a refund or credit becomes determinable, unless the method or formula is used after the insurance commissioner notifies the insurer that it is disapproved.

(f) If a refund or credit required by subsection (a) or (c) is not made to the debtor within sixty (60) days after the date the debt is terminated, due to prepayment in full or otherwise, the creditor shall pay to the debtor for each day after the sixty (60) day period has expired an amount equal to the daily interest at the contracted annual percentage rate on the amount of the refund required by subsection (a) due at the time of prepayment or termination. The director may impose an additional civil penalty of not greater than one thousand dollars ($1,000) per occurrence if a creditor engages in a pattern or practice of failing to comply with this subsection.

[Pre-2026 Revision Citation: 24-4.5-4-108.]

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