reglab/housing_qa huggingface dataset:
IN Code § 24-4.5-2-405 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-405. Balloon Payments

Sec. 405. (1) With respect to a consumer credit sale, other than one pursuant to a revolving charge account or one on which only credit service charges are payable before 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 buyer 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 buyer than the terms of the original sale. This section does not apply to the extent that the payment schedule is adjusted to the seasonal or irregular income of the buyer.(2) For the purposes of this section, "terms of the refinancing" means:(a) in the case of a fixed-rate consumer credit sale, the individual payment amounts, the charges as a result of default by the buyer, and the rate of the credit service charge; and(b) in the case of a variable rate consumer credit sale, the method used to determine the individual payment amounts, the charges as a result of default by the buyer, the method used to determine the rate of the credit service charge, the circumstances under which the rate of the credit service charge may increase, and any limitations on the increase in the rate of the credit service charge.Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.10.
IN Code § 24-4.5-2-406 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-406. Restriction on Liability in Consumer Lease

Sec. 406. 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.Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.11; P.L.45-1995, SEC.7.
IN Code § 24-4.5-2-407 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-407. Security Interests

Sec. 407. (1) With respect to a consumer credit sale, a seller may take a security interest in the property sold. In addition, a seller may take a security interest in goods upon which services are performed or in which goods sold are installed or to which they are annexed, or in land to which the goods are affixed or which is maintained, repaired or improved as a result of the sale of the goods or services, if, in the case of a subordinate lien mortgage transaction, the debt secured is four thousand dollars ($4,000) or more, or, in the case of a security interest in goods the debt secured is three hundred dollars ($300) or more. Except as provided with respect to cross-collateral (IC 24-4.5-2-408), a seller may not otherwise take a security interest in property of the buyer to secure the debt arising from a consumer credit sale.(2) With respect to a consumer lease, a lessor may not take a security interest in property of the lessee to secure the debt arising from the lease.(3) A security interest taken in violation of this section is void.(4) The amounts of four thousand dollars ($4,000) and three hundred dollars ($300) in subsection (1) are subject to change pursuant to the provisions on adjustment of dollar amounts (IC 24-4.5-1-106). However, notwithstanding IC 24-4.5-1-106(1), the Reference Base Index to be used with respect to the amount of:(a) three hundred dollars ($300) is the Index for October 1992; and(b) four thousand dollars ($4,000) is the Index for October 2012.Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.12; P.L.35-2010, SEC.46; P.L.137-2014, SEC.8; P.L.186-2015, SEC.13.
IN Code § 24-4.5-2-407.5 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-407.5. Leasing of Live Domestic Animals Prohibited

Sec. 407.5. The leasing of live domestic animals (as defined in IC 34-30-30-1) under this chapter is prohibited.As added by P.L.176-2019, SEC.13.
IN Code § 24-4.5-2-408 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-408. Cross-Collateral

Sec. 408. Cross-Collateral — (1) In addition to contracting for a security interest pursuant to the provisions on security in sales or leases (24-4.5-2-407), a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.(2) If the seller contracts for a security interest in other property pursuant to this section, the rate of credit service charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation involving a refinancing (subsection (1) of 24-4.5-2-206). The seller has a reasonable time after so contracting to make any adjustments required by this section. "Seller" in this section does not include an assignee not related to the original seller.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-409 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-409. Debt Secured by Cross-Collateral

Sec. 409. (1) If debts arising from two (2) or more consumer credit sales, other than sales pursuant to a revolving charge account, are secured by cross-collateral (IC 24-4.5-2-408) or consolidated into one (1) debt payable on a single schedule of payments, and the debt is secured by security interests taken with respect to one (1) or more of the sales, payments received by the seller after the taking of the cross-collateral or the consolidation are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been first applied to the payment of the debts arising from the sales first made. To the extent debts are paid according to this section, security interests in items of property terminate as the debt originally incurred with respect to each item is paid.(2) Payments received by the seller upon a revolving charge account are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of credit service charges in the order of their entry to the account and then to the payment of debts in the order in which the entries to the account showing the debts were made.(3) If the debts consolidated arose from two (2) or more sales made on the same day, payments received by the seller are deemed, for the purpose of determining the amount of the debts secured by the various security interests, to have been applied first to the payment of the smallest debt.Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.13.
IN Code § 24-4.5-2-410 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-410. No Assignment of Earnings

Sec. 410. No Assignment of Earnings — A seller or lessor may not take an assignment of earnings of the buyer or lessee for payment or as security for payment of a claim, whether arising out of a consumer credit sale, consumer lease or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignees of the earnings and revocable by the buyer or lessee. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable and is otherwise permitted by law.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-411 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-411. Referral Sales

Sec. 411. Referral Sales — With respect to a consumer credit sale or consumer lease the seller or lessor may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the buyer or lessee as an inducement for a sale or lease in consideration of his giving to the seller or lessor the names of prospective purchasers or lessees, or otherwise aiding the seller or lessor in making a sale or lease to another person, if the earning of the rebate, discount or other value is contingent upon the occurrence of an event subsequent to the time the buyer or lessee agrees to buy or lease. If a buyer or lessee is induced by a violation of this section to enter into a consumer credit sale or consumer lease, the agreement is unenforceable by the seller or lessor and the buyer or lessee, at his option, may rescind the agreement or retain the goods delivered and the benefit of any services performed, without any obligation to pay for them.Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1978, P.L.127, SEC.1.
IN Code § 24-4.5-2-412 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-412. Notice of Assignment

Sec. 412. Notice of Assignment — The buyer or lessee is authorized to pay the original seller or lessor until the buyer or lessee receives notification of assignment of the rights to payment pursuant to a consumer credit sale or consumer lease and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested by the buyer or lessee, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the buyer or lessee may pay the seller or lessor.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-413 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-413. Attorney's Fees

Sec. 413. Attorney's Fees — With respect to a consumer credit sale or consumer lease the agreement may provide for the payment by the buyer or lessee of reasonable attorney's fees and after default and referral to an attorney not a salaried employee of the seller, or of the lessor or his assignee. A provision in violation of this section is unenforceable.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-414 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-414. Limitation on Default Charges

Sec. 414. Limitation on Default Charges — 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.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-415 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-415. Authorization to Confess Judgment Prohibited

Sec. 415. Authorization to Confess Judgment Prohibited - A buyer or lessee may not authorize any person to confess judgment on a claim arising out of a consumer credit sale or consumer lease. An authorization in violation of this section is void.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-417 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-417. Creditor's Duty to Credit Payment as of Date of Receipt; Payments Not Conforming to Requirements; Creditor's Failure to Credit Payment

Sec. 417. (1) This section applies to consumer credit sales, including revolving charge 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.69-2018, SEC.15.(Part 5. Home Solicitation Sales)
IN Code § 24-4.5-2-501 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-501. "Home Solicitation Sale"

Sec. 501. Definition: "Home Solicitation Sale" — "Home solicitation sale" means a consumer credit sale of goods, other than farm equipment, or services in which:(1) the seller or a person acting for him engages in a personal solicitation of the sale, including a solicitation over the telephone, at a residence of the buyer and the buyer's agreement or offer to purchase is there given to the seller or a person acting for him; or(2) the seller or his agent, solicits a sale in a city or town in which the seller does not have a permanent business establishment, through mailings, advertisements, or telephone calls, which require the buyer to meet the seller or his agent at a place other than the seller's permanent business establishment.It does not include a sale made pursuant to a preexisting revolving charge account, or a sale made pursuant to prior negotiations between the parties at a business establishment at a fixed location where goods or services are offered or exhibited for sale.Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1979, P.L.237, SEC.1.
IN Code § 24-4.5-2-502 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-502. Buyer's Right to Cancel

Sec. 502. Buyer's Right to Cancel — The requirements of 16 CFR 429 must be met in regard to the following provisions concerning home solicitation sales:(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.Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.14-1992, SEC.22.
IN Code § 24-4.5-2-601 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-601. Sale Subject to Article by Agreement of Parties

Sec. 601. Sale Subject to Article by Agreement of Parties — The parties to a sale other than a consumer credit sale may agree in a writing signed by the parties that the sale is subject to the provisions of this Article applying to consumer credit sales. If the parties so agree, the sale is a consumer credit sale for the purposes of this Article.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-602 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-602. "Consumer Related Sale"; Credit Service Charge; Annual Notice to Department Not Required

Sec. 602. (1) A "consumer related sale" is a sale of goods, services, or an interest in land in which:(a) credit is granted by a person that is not regularly engaged as a seller in credit transactions of the same kind;(b) the buyer is a person other than an organization;(c) the goods, services, or interest in land are purchased primarily for a personal, family, or household purpose;(d) either the debt is payable in installments or a credit service charge is made; and(e) with respect to a sale of goods or services:(i) 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(ii) the debt is secured by personal property used or expected to be used as the principal dwelling of the buyer.(2) With respect to a consumer related sale not made pursuant to a revolving charge account, the parties may contract for an amount comprising the amount financed and a credit service charge not in excess of twenty-five percent (25%) per year calculated according to the actuarial method on the unpaid balances of the amount financed.(3) With respect to a consumer related sale made pursuant to a revolving charge account, the parties may contract for a credit service charge not in excess of that permitted by the provisions on credit service charge for revolving charge accounts (IC 24-4.5-2-201(6)).(4) A person engaged in consumer related sales is not required to comply with IC 24-4.5-6-201 through IC 24-4.5-6-203.Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.219, SEC.3; Acts 1982, P.L.149, SEC.3; P.L.5-1988, SEC.130; P.L.122-1994, SEC.15; P.L.27-2012, SEC.17; P.L.216-2013, SEC.9; P.L.137-2014, SEC.9; P.L.73-2016, SEC.9; P.L.85-2020, SEC.9.
IN Code § 24-4.5-2-603 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-603. Applicability of Other Provisions to Consumer Related Sales

Sec. 603. Applicability of other Provisions to Consumer Related Sales - Except for the rate of the credit service charge (24-4.5-2-201) and the rights to prepay and to rebate upon prepayment, the provisions of Part 2 of this Chapter apply to a consumer related sale.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-2-604 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-604. Limitation on Default Charges in Consumer Related Sales

Sec. 604. Limitation on Default Charges in Consumer Related Sales — (1) The agreement with respect to a consumer related sale may provide for only the following charges as a result of the buyer's default:(a) reasonable attorney's fees and reasonable expenses incurred in realizing on a security interest;(b) deferral charges not in excess of twenty-five percent (25%) per year of the amount deferred for the period of deferral; and(c) other charges that could have been made had the sale been a consumer credit sale.(2) A provision in violation of this section is unenforceable.Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1982, P.L.150, SEC.2; P.L.73-2016, SEC.10.
IN Code § 24-4.5-2-605 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 2. Credit Sales|24-4.5-2-605. Credit Service Charge for Other Sales

Sec. 605. Credit Service Charge for Other Sales — 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.Formerly: Acts 1971, P.L.366, SEC.3.
IN Code § 24-4.5-3-0.1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The following amendments to this chapter apply as follows:(1) The amendments made to section 201 of this chapter by P.L.163-1999 do not apply to consumer loans in existence before July 1, 1999.(2) The amendments made to section 209(1) of this chapter by P.L.159-2001 apply to a contract between a lender and a debtor that is entered into or renewed after June 30, 2001.As added by P.L.220-2011, SEC.390.
IN Code § 24-4.5-3-101 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-101. Short Title

Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code — Loans.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-102 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-102. Application

Sec. 102. This chapter applies to consumer loans, including supervised loans. In addition, IC 24-4.5-3-601 through IC 24-4.5-3-605 apply to consumer related loans. The licensing provisions of this chapter apply to consumer credit sales under IC 24-4.5-2 that are subordinate lien mortgage transactions.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.152-1986, SEC.62; P.L.35-2010, SEC.47.
IN Code § 24-4.5-3-105 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-105. "Consumer Loan"; First Lien Mortgage Transaction Not Included

Sec. 105. Unless the loan is made subject to IC 24-4.5-3 by agreement (IC 24-4.5-3-601), and except with respect to:(a) disclosure (IC 24-4.5-3-301);(b) debtors' remedies (IC 24-4.5-5-201);(c) providing payoff amounts (IC 24-4.5-3-209);(d) providing property tax information (IC 24-4.5-3-701);(e) powers and functions of the department (IC 24-4.5-6-104);(f) the department's examination and investigatory authority (IC 24-4.5-6-106); and(g) the department's administrative enforcement authority (IC 24-4.5-6-108);"consumer loan" does not include a first lien mortgage transaction.Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1979, P.L.238, SEC.1; Acts 1981, P.L.218, SEC.5; P.L.152-1986, SEC.63; P.L.14-1992, SEC.23; P.L.176-1996, SEC.5; P.L.23-2000, SEC.4; P.L.90-2008, SEC.7; P.L.35-2010, SEC.48; P.L.69-2018, SEC.16.
IN Code § 24-4.5-3-106 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-106. "Loan"

Sec. 106. Definition: "Loan" — "Loan" includes(1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;(2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;(3) the creation of debt pursuant to a lender credit card or similar arrangement; and(4) the forbearance of debt arising from a loan.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-107 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-107. Definitions; "Lender"; "Precomputed"; "Principal"

Sec. 107. Definitions: "Lender"; "Precomputed"; "Principal" ─ (1) Except as otherwise provided, "lender" means a person regularly engaged in making consumer loans. The term includes an assignee of the lender's right to payment but use of the term does not in itself impose on an assignee any obligation of the lender with respect to events occurring before the assignment.(2) A loan, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.(3) "Principal" of a loan means the total of:(a) the net amount paid to, receivable by, or paid or payable for the account of the debtor;(b) the amount of any discount excluded from the loan finance charge (subsection (2) of IC 24-4.5-3-109); and(c) to the extent that payment is deferred:(i) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in (a); and(ii) additional charges permitted by this chapter (IC 24-4.5-3-202).Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.145-2008, SEC.25.