reglab/housing_qa huggingface dataset:
IN Code § 24-4.5-3-108 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-108. "Revolving Loan Account"

Sec. 108. Definition: "Revolving Loan Account" — "Revolving loan account" means an arrangement between a lender and a debtor pursuant to which:(1) the lender may permit the debtor to obtain loans from time to time;(2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account;(3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and(4) the debtor has the privilege of paying the balances in installments.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.137-2021, SEC.5.
IN Code § 24-4.5-3-109 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-109. "Loan Finance Charge"

Sec. 109. (1) "Loan finance charge" means the sum of:(a) all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the lender as an incident to the extension of credit, including any of the following types of charges which are applicable: interest or any amount payable under a point, discount, or other system of charges, however denominated, premium or other charge for any guarantee or insurance protecting the lender against the debtor's default or other credit loss; and(b) charges incurred for investigating the collateral or credit-worthiness of the debtor.The term does not include charges as a result of default, additional charges (IC 24-4.5-3-202), delinquency charges (IC 24-4.5-3-203.5), or deferral charges (IC 24-4.5-3-204). The term does not include charges paid or payable to a third party that are not required by the lender as a condition or incident to the extension of credit except for borrower paid mortgage broker fees, including fees paid directly to the broker or the lender (for delivery to the broker), whether the fees are paid in cash or financed. However, borrower paid mortgage broker fees do not include fees paid to a mortgage broker by a creditor, including yield spread premiums and service release fees.(2) If a lender makes a loan to a debtor by purchasing or satisfying obligations of the debtor pursuant to a lender credit card or similar arrangement, and the purchase or satisfaction is made at less than the face amount of the obligation, the discount is not part of the loan finance charge.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.247-1983, SEC.15; P.L.14-1992, SEC.24; P.L.172-1997, SEC.4.
IN Code § 24-4.5-3-204 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-204. Deferral Charges

Sec. 204. Deferral Charges — (1) This section applies only to a consumer loan, refinancing, or consolidation, that is entered into before July 1, 2020. With respect to a precomputed consumer loan, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the lender may make and collect a charge not exceeding the lesser of thirty-six percent (36%) per year or the rate previously stated to the debtor pursuant to the provisions on disclosure (Part 3) applied to the amount or amounts deferred for the period of deferral calculated without regard to difference in the lengths of months, but proportionally for a part of a month, counting each day as one-thirtieth (1/30) of a month. A deferral charge may be collected at the time it is assessed or at any time thereafter.(2) The lender, in addition to the deferral charge, may make appropriate additional charges (IC 24-4.5-3-202), and the amount of these charges which is not paid in cash may be added to the amount deferred for the purpose of calculating the deferral charge.(3) The parties may agree in writing at the time of a precomputed consumer loan, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the lender may unilaterally grant a deferral and make charges as provided in this section. No deferral charge may be made for a period after the date that the lender elects to accelerate the maturity of the agreement.(4) A delinquency charge made by the lender on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.186-2015, SEC.14; P.L.85-2020, SEC.11.
IN Code § 24-4.5-3-205 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-205. Loan Finance Charge on Refinancing

Sec. 205. Loan Finance Charge on Refinancing — With respect to a consumer loan, refinancing, or consolidation, the lender may by agreement with the debtor refinance the unpaid balance and may contract for and receive a loan finance charge based on the principal resulting from the refinancing at a rate not exceeding that permitted by the provisions on a loan finance charge for consumer loans (IC 24-4.5-3-201) or the provisions on a loan finance charge for supervised loans (IC 24-4.5-3-508), whichever is appropriate. For the purpose of determining the loan finance charge permitted, the principal resulting from the refinancing comprises the following:(a) If:(i) the transaction was not precomputed, the total of the unpaid balance and the accrued charges on the date of the refinancing; or(ii) the transaction was precomputed, in the case of a transaction entered into before July 1, 2020, the amount which the debtor would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment (IC 24-4.5-3-210) on the date of refinancing.(b) Appropriate additional charges (IC 24-4.5-3-202), payment of which is deferred.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.14-1992, SEC.28; P.L.85-2020, SEC.12.
IN Code § 24-4.5-3-206 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-206. Loan Finance Charge on Consolidation

Sec. 206. Loan Finance Charge on Consolidation — (1) If a debtor owes an unpaid balance to a lender with respect to a consumer loan, refinancing, or consolidation, and becomes obligated on another consumer loan, refinancing, or consolidation with the same lender, the parties may agree to a consolidation resulting in a single schedule of payments. If the previous consumer loan, refinancing, or consolidation was not precomputed, the parties may agree to add the unpaid amount of principal and accrued charges on the date of consolidation to the principal with respect to the subsequent loan. If the previous consumer loan, refinancing, or consolidation was precomputed, in the case of a transaction entered into before July 1, 2020, the parties may agree to refinance the unpaid balance pursuant to the provisions on refinancing (IC 24-4.5-3-205) and to consolidate the principal resulting from the refinancing by adding it to the principal with respect to the subsequent loan. In either case the lender may contract for and receive a loan finance charge based on the aggregate principal resulting from the consolidation at a rate not in excess of that permitted by the provisions on loan finance charge for consumer loans (IC 24-4.5-3-201) or the provisions on loan finance charge for supervised loans (IC 24-4.5-3-508), whichever is appropriate.(2) The parties may agree to consolidate the unpaid balance of a consumer loan with the unpaid balance of a consumer credit sale. The parties may agree to refinance the previous unpaid balance pursuant to the provisions on refinancing sales (IC 24-4.5-2-205) or the provisions on refinancing loans (IC 24-4.5-3-205), whichever is appropriate, and to consolidate the amount financed resulting from the refinancing or the principal resulting from the refinancing by adding it to the amount financed or principal with respect to the subsequent sale or loan. The aggregate amount resulting from the consolidation shall be deemed principal, and the creditor may contract for and receive a loan finance charge based on the principal at a rate not in excess of that permitted by the provisions on loan finance charge for consumer loans (IC 24-4.5-3-201) or the provisions on loan finance charge for supervised loans (IC 24-4.5-3-508), whichever is appropriate.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.85-2020, SEC.13.
IN Code § 24-4.5-3-207 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-207. Conversion to Revolving Loan Account

Sec. 207. Conversion to Revolving Loan Account. — 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 (24-4.5-3-205); 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 (24-4.5-2-205).Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-208 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-208. Advances to Perform Covenants of Debtor

Sec. 208. Advances to Perform Covenants of Debtor. — (1) If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor, the lender may add the amounts paid to the debt. Within a reasonable time after advancing any sums, he shall state to the debtor in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the debtor performed by the lender pertain to insurance, a brief description of the insurance paid for by the lender including the type and amount of coverages. No further information need be given.(2) A loan finance charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the debtor pursuant to the provisions on disclosure (Part 3) with respect to the loan, refinancing, or consolidation, except that with respect to a revolving loan account the amount of the advance may be added to the unpaid balance of the debt and the lender may make a loan finance charge not exceeding that permitted by the provisions on loan finance charge for consumer loans (24-4.5-3-201) or for supervised loans (24-4.5-3-508), whichever is appropriate.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-301 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-301. Disclosures Required by Consumer Credit Protection Act; Exempt Transactions

Sec. 301. (1) For the purposes of this section, "consumer loan" includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan (IC 24-4.5-1-301.5(9)).(2) The lender shall disclose to the debtor to whom credit is extended with respect to a consumer loan the information required by the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).(3) For purposes of subsection (2), disclosures shall not be required on a consumer loan if the transaction is exempt from the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).Formerly: Acts 1971, P.L.366, SEC.4; Acts 1975, P.L.267, SEC.1. As amended by Acts 1981, P.L.218, SEC.6; Acts 1981, P.L.217, SEC.2; P.L.247-1983, SEC.18; P.L.45-1995, SEC.11; P.L.35-2010, SEC.50; P.L.159-2017, SEC.13.
IN Code § 24-4.5-3-401 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-401. Scope

Sec. 401. Scope — This Part applies to consumer loans.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-402 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-402. Balloon Payments; Compliance With Alternative Mortgage Transaction Parity Act

Sec. 402. (1) This section does not apply to a first lien mortgage transaction.(2) Except as provided in IC 24-9-4-3 with respect to a high cost home loan (as defined in IC 24-9-2-8), with respect to a consumer loan, other than one pursuant to a revolving loan account or one on which only loan finance charges are payable prior to the time that the final scheduled payment is due, if any scheduled payment is more than twice as large as the average of earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is due without penalty. The terms of the refinancing shall be no less favorable to the debtor than the terms of the original loan. This section does not apply to the extent that the payment schedule is adjusted to the seasonal or irregular income of the debtor.(3) For the purposes of this section, "terms of the refinancing" means:(a) in the case of a fixed-rate consumer loan, the individual payment amounts, the charges as a result of default by the debtor, and the rate of the loan finance charge; and(b) in the case of a variable rate consumer loan, the method used to determine the individual payment amounts, the charges as a result of default by the debtor, the method used to determine the rate of the loan finance charge, the circumstances under which the rate of the loan finance charge may increase, and any limitations on the increase in the rate of the loan finance charge.(4) If a consumer loan is made under the authority of the Alternative Mortgage Transaction Parity Act (12 U.S.C. 3802 et seq.), the note evidencing the mortgage must contain a reference to the applicable federal law.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.247-1983, SEC.19; P.L.213-2007, SEC.9; P.L.217-2007, SEC.8; P.L.90-2008, SEC.8.
IN Code § 24-4.5-3-403 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-403. No Assignment of Earnings

Sec. 403. No Assignment of Earnings — (1) A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable and is otherwise permitted by law.(2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-404 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-404. Attorney's Fees

Sec. 404. 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.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.152-1986, SEC.64; P.L.14-1992, SEC.31.
IN Code § 24-4.5-3-405 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-405. Limitation on Default Charges

Sec. 405. Limitation on Default Charges — Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this Article. A provision in violation of this section is unenforceable.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-406 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-406. Notice of Assignment

Sec. 406. Notice of Assignment — The debtor is authorized to pay the original lender until he 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 he does so the debtor may pay the original lender.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-407 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-407. Authorization to Confess Judgment Prohibited

Sec. 407. Authorization to Confess Judgment Prohibited — A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-408 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-408. Creditor's Duty to Credit Payment as of Date of Receipt; Payments Not Conforming to Requirements; Creditor's Failure to Credit Payment

Sec. 408. (1) This section applies to consumer loans, including revolving loan accounts.(2) Except as provided in subsection (3), 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 203.5 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.(3) 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.(4) 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.As added by P.L.163-1999, SEC.2. Amended by P.L.69-2018, SEC.18.(Part 5. Regulated and Supervised Loans)
IN Code § 24-4.5-3-501 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-501. Definitions; "Supervised Loan"; "Supervised Lender"

Sec. 501. Definitions:(1) "Supervised loan" means a consumer loan in which the rate of the loan finance charge exceeds twenty-five percent (25%) per year as determined according to the provisions on loan finance charge for consumer loans in section 201 of this chapter.(2) "Supervised lender" means a person authorized to make or take assignments of supervised loans.Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1982, P.L.150, SEC.4; P.L.122-1994, SEC.23; P.L.91-2013, SEC.3.
IN Code § 24-4.5-3-501.5 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-501.5. Persons Also Engaging in Activities of a Loan Broker; Examination by Department; Cooperation With Securities Division

Sec. 501.5. (1) If a person licensed or required to be licensed under section 502.1 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:(a) IC 23-2.5-8-1.(b) IC 23-2.5-8-2.(c) IC 23-2.5-11-15(b) and IC 23-2.5-11-15(c).(d) IC 23-2.5-11-17.(e) IC 23-2.5-8-3.(f) IC 23-2.5-8-4 through IC 23-2.5-8-9.(g) IC 23-2.5-8-10.(h) IC 23-2.5-10-1.(i) IC 23-2.5-9-1, except for IC 23-2.5-9-1(2)(B).(j) IC 23-2.5-11-16.(2) Loan broker business transactions engaged in by persons licensed or required to be licensed under section 502.1 of this chapter are subject to examination by the department and to the examination fees described in section 503(8)(b) 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.As added by P.L.186-2015, SEC.15. Amended by P.L.175-2019, SEC.7.
IN Code § 24-4.5-3-503.1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-503.1. National Criminal History Background Check; Fingerprints; Payment of Fees or Costs; Use of Nmlsr

Sec. 503.1. (1) When the director requests a national criminal history background check under section 503(4)(a) of this chapter for an individual described in section 503(2) of this chapter, the director shall require the individual to submit fingerprints to the department, state police department, or NMLSR, as directed, at the time evidence of compliance is requested under section 503(3) of this chapter. The individual to whom the request is made shall pay any fees or costs associated with processing and evaluating the fingerprints and the national criminal history background check. The national criminal history background check may be used by the director to determine the individual's compliance with this section. The director or the department may not release the results of the national criminal history background check to any private entity.(2) For purposes of this section and in order to reduce the points of contact that the Federal Bureau of Investigation may have to maintain for purposes of this section, the director may use the NMLSR as a channeling agent for requesting information from and distributing information to the United States Department of Justice or any governmental agency.As added by P.L.35-2010, SEC.54.
IN Code § 24-4.5-3-503.2 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-503.2. Credit Reports; Payment of Fees or Costs; Demonstrated Financial Responsibility; Considerations

Sec. 503.2. (1) If the director requests a credit report for an individual described in section 503(2) of this chapter, the individual to whom the request is made shall pay any fees or costs associated with procuring the report.(2) The individual must submit personal history and experience information in a form prescribed by the NMLSR, including the submission of authorization for the NMLSR or the director to obtain an independent credit report obtained from a consumer reporting agency described in Section 603(p) of the Fair Credit Reporting Act (15 U.S.C. 1681a(p)).(3) The director may consider one (1) or more of the following when determining if an individual has demonstrated financial responsibility:(a) Bankruptcies filed within the last ten (10) years.(b) Current outstanding judgments, except judgments solely as a result of medical expenses.(c) Current outstanding tax liens or other government liens or filings.(d) Foreclosures within the past three (3) years.(e) A pattern of serious delinquent accounts within the past three (3) years.As added by P.L.35-2010, SEC.55.