reglab/housing_qa huggingface dataset:
IN Code § 24-4.5-3-503.6 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-503.6. License Renewal; Revocation or Suspension of License Not Renewed; Reinstatement or Appeal; Correcting Amendments

Sec. 503.6. (1) A license issued under this article must be renewed not later than December 31 of each calendar year. A license issued under section 502.1 of this chapter must be renewed through the NMLSR. The minimum standards for license renewal for a creditor include the following:(a) If the creditor is licensed in accordance with section 502 of this chapter, the creditor has:(i) paid all required fees for renewal of the license; and(ii) filed all reports and information required by the director.(b) If the creditor is licensed under section 502.1 of this chapter, the following:(i) The creditor has continued to meet the surety bond requirement under section 503.3 of this chapter.(ii) The creditor has filed the creditor's call report in a manner that satisfies section 505(4) of this chapter.(iii) The creditor has paid all required fees for renewal of the license.(iv) The creditor and individuals described in section 503(2) of this chapter have certified to the department that they continue to meet all the standards for licensing established under section 503 of this chapter.(v) The creditor has filed all reports and information required by the director.(vi) The creditor has provided in the creditor's renewal application 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, along with any other information the director requires in order to evaluate the renewal of the license issued under this article.(2) A license issued by the department authorizing a person to engage as a creditor in consumer loans or consumer credit sales under this article may be revoked or suspended by the department if the person fails to:(a) file any renewal form required by the department; or(b) pay any license renewal fee described under section 503(8)(c) of this chapter;not later than sixty (60) days after the due date.(3) A person whose license is revoked or suspended under this section may do either of the following:(a) Pay all delinquent fees and apply for reinstatement of the license.(b) Appeal the revocation or suspension to the department for an administrative review under IC 4-21.5-3.Pending the decision from a hearing under IC 4-21.5-3 concerning license revocation or suspension, a license remains in force.(4) If, at any time, the information or record contained in:(a) an original application for licensure filed under section 502 or 502.1 of this chapter; or(b) 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.As added by P.L.35-2010, SEC.58. Amended by P.L.89-2011, SEC.18; P.L.27-2012, SEC.21.
IN Code § 24-4.5-3-505.5 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-505.5. Automated Loan Machines

Sec. 505.5. (a) As used in this section, "automated loan machine" means an unmanned machine that performs routine lending functions.(b) A licensee may make loans through an automated loan machine at an offsite location if the licensee:(1) notifies the department in writing of the existence and location of the automated loan machine;(2) maintains at a location licensed or approved by the department the books, accounts, records, and files concerning transactions performed through the automated loan machine; and(3) posts at the offsite location where the automated loan machine is located the:(A) address where the books, accounts, records and files are located; and(B) telephone number at which the licensee may be contacted.As added by P.L.172-1997, SEC.6.
IN Code § 24-4.5-3-509 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-509. Use of Multiple Agreements

Sec. 509. Use of Multiple Agreements. — With respect to a consumer loan, no lender may permit any person, or husband and wife, to become obligated in any way under more than one loan agreement with the lender or with a person related to the lender, with intent to obtain a higher rate of loan finance charge than would otherwise be permitted by the provisions on loan finance charge for supervised loans (IC 24-4.5-3-508) or to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure (Part 3). The excess amount of loan finance charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on effect of violations on rights of parties (IC 24-4.5-5-202) and the provisions on civil actions by the department (IC 24-4.5-6-113).Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.14-1992, SEC.39.
IN Code § 24-4.5-3-510 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-510. Restrictions on Interest in Land as Security

Sec. 510. Restrictions on Interest in Land as Security — (1) With respect to a supervised loan in which the principal is four thousand dollars ($4,000) or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.(2) The amount of four thousand dollars ($4,000) in subsection (1) is 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 under this subsection is the Index for October 2012.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.137-2014, SEC.11; P.L.186-2015, SEC.19.
IN Code § 24-4.5-3-511 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-511. Regular Schedule of Payments; Maximum Loan Term

Sec. 511. Regular Schedule of Payments; Maximum Loan Term — (1) Supervised loans not made pursuant to a revolving loan account and in which the principal is four thousand dollars ($4,000) or less are payable in a single instalment or shall be scheduled to be payable in substantially equal instalments that are payable at equal periodic intervals, except to the extent that the schedule of payments is adjusted to the seasonal or irregular income of the debtor, and:(a) over a period of not more than thirty-seven (37) months if the principal is more than three hundred dollars ($300); or(b) over a period of not more than twenty-five (25) months if the principal is three hundred dollars ($300) or less.(2) The amounts of three hundred dollars ($300) and four thousand dollars ($4,000) 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.4. As amended by Acts 1982, P.L.149, SEC.5; P.L.137-2014, SEC.12; P.L.186-2015, SEC.20; P.L.10-2019, SEC.107.
IN Code § 24-4.5-3-512 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-512. Carrying on Other Business

Sec. 512. Conduct of Business Other than Making Loans — A licensee may carry on other business at a location where the licensee makes consumer loans unless the licensee carries on other business for the purpose of evasion or violation of this article.Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.159-2017, SEC.15.
IN Code § 24-4.5-3-513 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-513. Application of Other Provisions

Sec. 513. Application of Other Provisions — Except as otherwise provided, all provisions of this Article applying to consumer loans apply to supervised loans.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-601 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-601. Loans Subject to Article by Agreement of Parties

Sec. 601. Loans Subject to Article by Agreement of Parties — The parties to a loan other than a consumer loan may agree in writing signed by the parties that the loan is subject to the provisions of this Article applying to consumer loans. If the parties so agree, the loan is a consumer loan for the purposes of this Article.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-602 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-602. "Consumer Related Loan"; Loan Finance Charge; Licensing and Annual Notice to Department Not Required

Sec. 602. (1) A "consumer related loan" is a loan in which the following apply:(a) The loan is made by a person who is not regularly engaged as a lender in credit transactions of the same kind.(b) The debtor is a person other than an organization.(c) The debt is primarily for a personal, family, or household purpose.(d) Either the debt is payable in installments or a loan finance charge is made.(e) Either:(i) 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 an interest in land or by personal property used or expected to be used as the principal dwelling of the debtor.(2) With respect to a consumer related loan, including one made pursuant to a revolving loan account, the parties may contract for the payment by the debtor of a loan finance charge, calculated according to the actuarial method, not to exceed twenty-five percent (25%) per year on the unpaid principal balance.(3) A person engaged in consumer related loans is not required to comply with:(a) the licensing requirements set forth in section 503 of this chapter; or(b) IC 24-4.5-6-201 through IC 24-4.5-6-203.Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1981, P.L.219, SEC.6; Acts 1982, P.L.149, SEC.6; Acts 1982, P.L.150, SEC.6; P.L.14-1992, SEC.40; P.L.122-1994, SEC.28; P.L.27-2012, SEC.24; P.L.216-2013, SEC.11; P.L.137-2014, SEC.13; P.L.73-2016, SEC.12; P.L.69-2018, SEC.23.
IN Code § 24-4.5-3-603 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-603. Applicability of Other Provisions to Consumer Related Loans

Sec. 603. Applicability of Other Provisions to Consumer Related Loans — Except for the rate of the loan finance charge and the rights to prepay and to rebate upon prepayment, the provisions of Part 2 of this Chapter apply to a consumer related loan.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-604 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-604. Limitation on Default Charges in Consumer Related Loans

Sec. 604. Limitation on Default Charges in Consumer Related Loans — (1) The agreement with respect to a consumer related loan may provide for only the following charges as a result of the debtor'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 loan been a consumer loan.(2) A provision in violation of this section is unenforceable.Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1982, P.L.150, SEC.7; P.L.73-2016, SEC.13.
IN Code § 24-4.5-3-605 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-605. Loan Finance Charge for Other Loans

Sec. 605. Loan Finance Charge for Other Loans — With respect to a loan other than a consumer loan or a consumer related loan, the parties may contract for the payment by the debtor of any loan finance charge.Formerly: Acts 1971, P.L.366, SEC.4.
IN Code § 24-4.5-3-606 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-606. Required Disclosures; Liability on Fraudulently Cashed Instruments

Sec. 606. (1) In addition to any disclosures otherwise provided by law, a lender soliciting loans using a negotiable check, facsimile, or other negotiable instrument that may be used by a consumer to activate a new loan shall disclose the following:"This is a solicitation for a loan. Read the enclosed disclosures before signing this agreement."This notice shall be printed in at least ten point type and shall appear conspicuously on the offer.(2) If a negotiable check, a facsimile, or another instrument is stolen or incorrectly received by someone other than the intended payee and the instrument is fraudulently cashed, the consumer who was the intended payee is not liable for the loan obligation.As added by P.L.163-1999, SEC.3.(Part 7. Property Tax Information)
IN Code § 24-4.5-3-701 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 3. Loans|24-4.5-3-701. Requirement to Provide Property Tax Information in Certain Transactions

Sec. 701. With respect to a consumer loan secured by an interest in land used or expected to be used as the principal dwelling of the debtor, a lender shall comply with IC 6-1.1-12-43.As added by P.L.64-2004, SEC.15.
IN Code § 24-4.5-4-101 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-101. Short Title

Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code - Insurance.Formerly: Acts 1971, P.L.366, SEC.5.
IN Code § 24-4.5-4-102 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-102. Application; Relation to Credit Insurance Act

Sec. 102. (1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (IC 24-4.5-1-301.5(8)), a consumer lease (IC 24-4.5-2-106), or a consumer loan (IC 24-4.5-1-301.5(9)).(2) The provision on cancellation by a creditor (IC 24-4.5-4-304) applies to loans the primary purpose of which is the financing of insurance. No other provision of this chapter applies to insurance so financed.(3) This chapter supplements and does not repeal IC 27-8-4 (the credit insurance act). The provisions of this article concerning administrative controls, liabilities, and penalties do not apply to persons acting as insurers, and the similar provisions of IC 27-8-4 do not apply to creditors and debtors.Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.153-1986, SEC.1; P.L.35-2010, SEC.61.
IN Code § 24-4.5-4-103 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-103. "Consumer Credit Insurance" Defined

Sec. 103. In this article, "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:(1) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or(2) insurance indemnifying the creditor against loss due to the debtor's default.Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.153-1986, SEC.2.
IN Code § 24-4.5-4-104 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-104. Creditor's Provisions of and Charge for Insurance; Excess Amount of Charge

Sec. 104. Creditor's Provisions of and Charge for Insurance; Excess Amount of Charge - (1) Except as otherwise provided in this Chapter and subject to the provisions on additional charges (IC 24-4.5-2-202 and IC 24-4.5-3-202) and maximum charges (Part 2 of Chapter 2 and Chapter 3), a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by him. This Article does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.(2) The excess amount of a charge for insurance provided for in agreements in violation of this Chapter is an excess charge for the purposes of the provisions of the Chapter on remedies and penalties (Chapter 5) as to effect of violations on rights of parties (IC 24-4.5-5-202) and of the provisions of the Chapter on administration (Chapter 6) as to civil actions by the department (IC 24-4.5-6-113).Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.14-1992, SEC.41.
IN Code § 24-4.5-4-105 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-105. Conditions Applying to Insurance to Be Provided by Creditor

Sec. 105. Conditions Applying to Insurance to be Provided by Creditor — If a creditor agrees with a debtor to provide insurance(1) the insurance shall be evidenced by an individual policy or certificate of insurance delivered to the debtor, or sent to him at his address as stated by him, within thirty (30) days after the term of the insurance commences under the agreement between the creditor and debtor; or(2) the creditor shall promptly notify the debtor of any failure or delay in providing the insurance.Formerly: Acts 1971, P.L.366, SEC.5.
IN Code § 24-4.5-4-106 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-106. Unconscionability

Sec. 106. Unconscionability — (1) In applying the provisions of the Article on unconscionability (24-4.5-5-108 and 24-4.5-6-111) to a separate charge for insurance, consideration shall be given, among other factors, to(a) potential benefits to the debtor including the satisfaction of his obligations;(b) the creditor's need for the protection provided by the insurance; and(c) the relation between the amount and terms of credit granted and the insurance benefits provided.(2) If consumer credit insurance otherwise complies with this Chapter and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in itself unconscionable.Formerly: Acts 1971, P.L.366, SEC.5.
IN Code § 24-4.5-4-107 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-107. Maximum Charge by Creditor for Insurance; Methods for Calculating Charge

Sec. 107. Maximum Charge by Creditor for Insurance - (1) Except as provided in subsection (2), if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the debtor is determined, conforming to any rate filings required by law and made by the insurer with the insurance commissioner.(2) A creditor who provides consumer credit insurance in relation to a revolving charge account (as defined in IC 24-4.5-2-108) or revolving loan account (as defined in IC 24-4.5-3-108) may calculate the charge to the debtor in each billing cycle by applying the current premium rate to one (1) of the following:(a) The average daily unpaid balance of the debt in the cycle.(b) The unpaid balance of the debt or a median amount within a specified range of unpaid balances of debt on approximately the same day of the cycle. The day of the cycle need not be the day used in calculating the credit service charge (IC 24-4.5-2-201(6)) or loan finance charge (IC 24-4.5-3-201 and IC 24-4.5-3-508), but the specified range shall be the range used for that purpose.(c) The unpaid balances of principal calculated according to the actuarial method.(d) The amount of the insurance benefit for the cycle.Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.141-2005, SEC.2; P.L.85-2020, SEC.17.
IN Code § 24-4.5-4-109 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-109. Existing Insurance; Choice of Insurer

Sec. 109. Existing Insurance; Choice of Insurer — If a creditor requires insurance, upon notice to the creditor the debtor shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and paid for by the debtor, but the creditor may for reasonable cause decline the insurance provided by the debtor.Formerly: Acts 1971, P.L.366, SEC.5.
IN Code § 24-4.5-4-110 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-110. Charge for Insurance Connection With a Deferral, Refinancing, or Consolidation; Duplicate Charges

Sec. 110. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 24-4.5-2-204 or IC 24-4.5-3-204), a refinancing (IC 24-4.5-2-205 or IC 24-4.5-3-205), or a consolidation (IC 24-4.5-2-206 or IC 24-4.5-3-206), unless:(a) the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;(b) the debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which he would have been entitled had there been no deferral, refinancing, or consolidation;(c) the debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated (IC 24-4.5-4-108); and(d) the charge does not exceed the amount permitted by this chapter (IC 24-4.5-4-107).(2) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.152-1986, SEC.66.
IN Code § 24-4.5-4-111 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 4.5. Uniform Consumer Credit Code|Chapter 4. Insurance|24-4.5-4-111. Cooperation Between Administrator and Insurance Commissioner

Sec. 111. Cooperation Between the Department and Insurance Commissioner - 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 this State, the department shall advise the Insurance Commissioner of the circumstances.Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.14-1992, SEC.42.