reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements › 24-7-6-1. Reinstatement of Original Agreement; Conditions

Sec. 1. A lessee who fails to make timely rental payments has the right to reinstate the original rental purchase agreement under the original terms of the agreement without losing any rights or options previously acquired under the rental purchase agreement and without additional charges or penalties, except charges or penalties authorized under section 2 of this chapter, if:
(1) subsequent to having failed to make a timely rental payment, the lessee surrenders the property to the lessor not later than seven (7) days after the date the lessor requests the property be surrendered; and
(2) not more than one hundred twenty (120) days elapse after the date the lessee surrenders the property.
As added by P.L.254-1987, SEC.1. Amended by P.L.222-2013, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements › 24-7-6-2. Charges Allowed as Condition Precedent to Reinstatement

Sec. 2. (a) As a condition precedent to reinstatement of the rental purchase agreement, a lessor may charge:
(1) the outstanding balance of any accrued regular rental payments, returned payment fees, and delinquency charges;
(2) a reinstatement fee not exceeding the amount allowed under IC 24-7-5-6; and
(3) delivery charges not exceeding the amounts allowed under IC 24-7-5-3 if redelivery of the item is necessary.
(b) A reinstatement fee may not be charged under subsection (a)(2) unless the property has been returned to the lessor and is in the lessor's possession.
As added by P.L.254-1987, SEC.1. Amended by P.L.138-1990, SEC.11; P.L.69-2018, SEC.42; P.L.176-2019, SEC.35.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements › 24-7-6-3. Same or Substituted Leased Item Upon Reinstatement; Revised Disclosures

Sec. 3. If reinstatement occurs under sections 1 through 2 of this chapter, the lessor shall provide the lessee with either the same item leased by the lessee before reinstatement or a substitute item of comparable quality and condition. If any information disclosed under IC 24-7-3-2 is inaccurate after the delivery of a substitute item, the lessor shall provide the lessee with a revised set of disclosures. If there is more than one (1) lessee in a rental purchase agreement, delivery of a copy of the revised set of disclosures to one (1) of the lessees is sufficient to comply with this section.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements › 24-7-6-4. Prejudgment Garnishment Proceedings

Sec. 4. (a) IC 24-4.5-5-105 and IC 24-4.5-5-106 apply to garnishments related to a rental purchase agreement.
(b) With respect to a debt arising from a rental purchase agreement, regardless of where made, the lessor may not attach unpaid earnings of the debtor by garnishment proceedings or other similar proceedings before the entry of a judgment in an action against the lessee arising from a rental purchase agreement.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements › 24-7-6-5. Unconscionable Agreements

Sec. 5. (a) If the court as a matter of law finds the rental purchase agreement or any clause of a rental purchase agreement to have been unconscionable at the time it was made the court may:
(1) refuse to enforce the rental purchase agreement;
(2) enforce the remainder of the rental purchase agreement without the unconscionable clause; or
(3) limit the application of any unconscionable clause to avoid an unconscionable result.
(b) If it is claimed or appears to the court that a rental purchase agreement or any clause of the rental purchase agreement 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 purposes of this section, a rental payment, charge, or practice expressly permitted by this article is not in itself unconscionable.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 7. Enforcement; Adjustment in Maximum Fees › 24-7-7-1. Enforcement by Department; Civil Penalty

Sec. 1. (a) The department shall enforce this article. To carry out this responsibility, the department may do the following:
(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) Issue and enforce administrative orders under IC 4-21.5.
(3) Counsel persons and groups on their rights and duties under this article.
(4) Establish programs for the education of consumers with respect to rental purchase agreement practices and problems.
(5) Make studies appropriate to effectuate the purposes and policies of this article and make the results available to the public.
(6) Adopt rules under IC 4-22-2, including emergency rules under IC 4-22-2-37.1, to carry out this article.
(7) Maintain more than one (1) office within Indiana.
(8) Bring a civil action to restrain a person from violating this article and for other appropriate relief, and exercise the same enforcement powers provided under IC 24-4.5-6-108.
(9) Require a lessor to refund to the lessee any overcharges resulting from the lessor's noncompliance with:
(A) the terms of a rental purchase agreement; or
(B) this article, or any order or rule issued or adopted by the department under this article.
(b) If the department determines, after notice and an opportunity to be heard, that a person has violated this article, or any order or rule issued or adopted by the department under this article, the department may, in addition to or instead of all other remedies available under this section, impose upon the person a civil penalty not greater than ten thousand dollars ($10,000) per violation.
As added by P.L.254-1987, SEC.1. Amended by P.L.1-1990, SEC.245; P.L.138-1990, SEC.12; P.L.172-1997, SEC.12; P.L.35-2010, SEC.91; P.L.89-2011, SEC.24; P.L.69-2018, SEC.43; P.L.29-2022, SEC.8.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 7. Enforcement; Adjustment in Maximum Fees › 24-7-7-3. Assurance of Discontinuance of Misconduct

Sec. 3. If it is claimed that a person has engaged in conduct subject to an order by the department or by a court under this chapter, the department may accept an assurance in writing that the person will not engage in the conduct in the future. If a person giving an assurance of discontinuance fails to comply with its terms, the assurance is evidence that before the assurance the person engaged in the conduct described in the assurance.
As added by P.L.254-1987, SEC.1. Amended by P.L.172-1997, SEC.14.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-1. Notification by Lessor

Sec. 1. A lessor shall file notification with the department:
(1) within thirty (30) days after soliciting or entering into a rental purchase agreement subject to this article; and
(2) before February 1 in each subsequent year that the lessor solicits or enters into a rental purchase agreement subject to this article.
As added by P.L.254-1987, SEC.1. Amended by P.L.172-1997, SEC.15.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-2. Contents of Notification

Sec. 2. The notification required under section 1 of this chapter must include the following:
(1) The name of the lessor.
(2) The name in which business is transacted if different from subdivision (1).
(3) The address of the principal office, which may be outside Indiana if it is in another state in the continental United States.
(4) The address of all offices or stores, if any, in Indiana at which rental purchase agreements are made.
(5) If rental purchase agreements are made in a place other than an office or retail store in Indiana, a brief description of the manner in which they are made.
(6) The address of the designated agent upon whom service of process may be made in Indiana.
(7) Other information required by the director of the department.
As added by P.L.254-1987, SEC.1. Amended by P.L.35-2010, SEC.93; P.L.69-2018, SEC.45.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-3. Corrective Notification

Sec. 3. After a lessor has filed an initial or a subsequent notification under section 1 of this chapter, the lessor shall notify the department not later than thirty (30) days after:
(1) the lessor has a change in name or address;
(2) the lessor opens a new office or store, closes an existing office or store, or relocates an existing office or store;
(3) the lessor files for bankruptcy or reorganization; or
(4) the lessor is notified that the lessor is subject to revocation or suspension proceedings by a state or governmental authority with respect to the lessor's rental purchase activities.
As added by P.L.254-1987, SEC.1. Amended by P.L.216-2013, SEC.15.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-4. Fees; Costs of Examination by Department; Late Fees

Sec. 4. (a) A lessor required to file a notification with the department under section 1 of this chapter shall pay to the department the following fees:
(1) A fee fixed by the department under IC 28-11-3-5 with the initial notification filed with the department.
(2) A fee fixed by the department under IC 28-11-3-5 for each place of business operated by the lessor on December 31 of the preceding year with each annual notification subsequently filed with the department.
(b) In addition to the fee required under subsection (a)(2), if the department examines the books and records of the lessor, the lessor shall pay to the department all reasonably incurred costs of the examination in accordance with the fee schedule adopted by the department under IC 28-11-3-5.
(c) The department may impose a fee fixed by the department under IC 28-11-3-5 for each day a lessor is late in:
(1) submitting the information required under IC 24-7-8-2; or
(2) paying a fee under subsection (a) or (b).
As added by P.L.254-1987, SEC.1. Amended by P.L.138-1990, SEC.14; P.L.14-1992, SEC.64; P.L.45-1995, SEC.19; P.L.10-2006, SEC.23 and P.L.57-2006, SEC.23; P.L.35-2010, SEC.94; P.L.27-2012, SEC.31.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-5. Directors, Executive Officers, Indiana Store Managers; Criminal Background Checks

Sec. 5. Before appointing or hiring any director, executive officer, or Indiana store manager, a lessor must perform a criminal background check on the candidate and retain, until the department's next examination of the lessor is completed, records of the background check in the lessor's files.
As added by P.L.216-2013, SEC.16.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 8. Registration of Lessors › 24-7-8-6. Conducting Other Business at Rental Purchase Location; Conditions; Lessor Not Relieved From Applicable Laws

Sec. 6. (a) Subject to subsection (b), a lessor required to file notification and pay fees under this chapter may conduct other business, including offering for sale to members of the general public:
(1) property and services that were or may be the subject of a rental purchase agreement under this article; and
(2) property or services that are unrelated or only partially or indirectly related to the lessor's rental purchase agreement business;
at the location where the lessor enters into rental purchase agreements with lessees unless the lessor carries on other business for the purpose of evasion or circumvention of this article.
(b) A lessor may offer for sale to a lessee or prospective lessees the property or services described in subsection (a) at the location where the lessor enters into rental purchase agreements as provided under subsection (a) only if all the following conditions are met:
(1) The lessor:
(A) does not require that the lessee or prospective lessee purchase the property or services as a condition to entering into a rental purchase agreement;
(B) does not require that any purchaser or prospective purchaser of the property or services enter into a rental purchase agreement as a condition to purchasing the property or services; and
(C) clearly discloses in writing to the lessee or prospective lessee before the purchase is completed that:
(i) the purchase of the property or services is not a condition to entering into a rental purchase agreement; and
(ii) entering into a rental purchase agreement is not a condition to purchasing the property or services.
(2) The lessor does not charge the lessee or prospective lessee more for the property or services than the lessor charges members of the general public for the property or services.
(3) The transaction for the purchase of the property or services is conducted separately from any rental purchase agreement, and the cost for purchasing the property or services is not made a part of any rental purchase agreement.
(c) If a lessor offers for sale the property or services described in subsection (a) to lessees or prospective lessees in compliance with the conditions set forth in subsection (b), the business is not considered as being conducted for the purpose of evasion or circumvention of this article.
(d) This section does not relieve a lessor from:
(1) obtaining licenses, permits, authorizations, or consents required by law;
(2) filing or providing notifications as required by law; or
(3) otherwise complying with any other statute, rule, regulation, or ordinance of:
(A) this state;
(B) the United States; or
(C) any governmental unit of this state or the United States;
applicable to a lessor or the lessor's business activities permitted by this section.
As added by P.L.137-2014, SEC.21.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-1. False or Inaccurate Information in Agreements or Disclosures; Offense

Sec. 1. A lessor who knowingly gives false or inaccurate information in a rental purchase agreement or a written disclosure required under this article commits a Class C misdemeanor.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-2. Failure to Provide Required Information; Offense

Sec. 2. A lessor who knowingly fails to provide information that the lessor is required to disclose to a lessee or provide to the department under this article commits a Class C misdemeanor.
As added by P.L.254-1987, SEC.1. Amended by P.L.172-1997, SEC.16.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-3. Unauthorized or Excessive Charges; Offense

Sec. 3. A lessor who knowingly makes a charge under a rental purchase agreement that:
(1) is not authorized under this article; or
(2) exceeds the amount authorized under this article;
commits a Class C misdemeanor.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-4. Civil Damages Recoverable by Lessee

Sec. 4. (a) If a lessor violates this article and a lessee who is a party to the agreement prevails in the proceeding, the lessee may:
(1) recover from the lessor committing the violation; or
(2) set off in a counterclaim in any action by the lessor committing the violation;
the amounts described in subsection (b).
(b) The lessee in an action described in subsection (a) may recover all of the following:
(1) Reasonable attorney's fees, as determined by the court.
(2) Court costs.
(3) The greater of:
(A) the actual damages incurred by the lessee as a result of the violation;
(B) three hundred dollars ($300); or
(C) twenty-five percent (25%) of the total rental payments necessary to acquire ownership of the property leased under the agreement.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-5. Defenses; Clerical Error and Correction

Sec. 5. It is a defense in a criminal proceeding under sections 1 through 3 of this chapter or a civil proceeding under section 4 of this chapter that the lessor or an assignee of a lessor:
(1) failed to comply with this article as a result of a bona fide clerical error; and
(2) corrected the error after the date of execution of the rental purchase agreement.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-6. Defense; Compliance With Rules

Sec. 6. It is a defense in a criminal proceeding under sections 1 through 3 of this chapter or a civil proceeding under section 4 of this chapter that the lessor complied with a rule adopted by the department.
As added by P.L.254-1987, SEC.1. Amended by P.L.172-1997, SEC.17.
2023 Indiana Code › Title 24. Trade Regulation › Article 7. Rental Purchase Agreements › Chapter 9. Violations; Civil Damages › 24-7-9-7. Limitation of Actions

Sec. 7. Notwithstanding any other law, an action to recover the amounts described in section 4 of this chapter must be commenced within one (1) year after the action accrues.
As added by P.L.254-1987, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 1. Applicability › 24-8-1-1. Applicability of Article

Sec. 1. (a) This article applies to a promotion offer made:
(1) by a person in Indiana; or
(2) to a person in Indiana.
(b) This article does not apply to a prize linked savings program that:
(1) is offered or conducted by an eligible financial institution under IC 28-1-23.2;
(2) is:
(A) offered or conducted by a credit union organized or reorganized under United States law; and
(B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2; or
(3) is:
(A) offered or conducted by an insured depository institution (as defined in 12 U.S.C. 1813) that is:
(i) a national bank formed under 12 U.S.C. 21;
(ii) a state member bank (as defined in 12 U.S.C. 1813);
(iii) a state nonmember bank (as defined in 12 U.S.C. 1813); or
(iv) a savings association (as defined in 12 U.S.C. 1813); and
(B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2.
As added by P.L.233-1989, SEC.1. Amended by P.L.135-2014, SEC.2; P.L.186-2015, SEC.28.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 2. Definitions › 24-8-2-2. "Person" Defined

Sec. 2. "Person" means an individual, corporation, the state or its subdivisions or agencies, business trust, estate, trust, partnership, association, cooperative, or any other legal entity.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 2. Definitions › 24-8-2-5. "Promotion" Defined

Sec. 5. "Promotion" means a written notice offering:
(1) property; or
(2) a chance to obtain property;
to a person based on a representation that the person has been awarded or may have been awarded a prize.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 2. Definitions › 24-8-2-6. "Property"

Sec. 6. "Property" has the meaning set forth in IC 35-31.5-2-253.
As added by P.L.233-1989, SEC.1. Amended by P.L.114-2012, SEC.49.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 2. Definitions › 24-8-2-7. "Sponsor" Defined

Sec. 7. "Sponsor" means a person on whose behalf a promotion is conducted to promote or advertise goods, services, or property of that person.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 2. Definitions › 24-8-2-8. "Verifiable Retail Value" Defined

Sec. 8. "Verifiable retail value" means:
(1) a price at which a promoter or sponsor can demonstrate that a substantial number of prizes have been sold at retail by a person other than the promoter or sponsor; or
(2) if substantiation described in this section is not available to a promoter or sponsor, no more than one and one-half (1.5) times the amount a promoter or sponsor paid for a prize.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-1. Delivery

Sec. 1. Notice may be delivered by any of the following methods:
(1) Hand.
(2) Mail.
(3) Newspaper.
(4) Other periodical.
(5) Electronic mail or any other form of electronic, digital, or Internet based communication.
As added by P.L.233-1989, SEC.1. Amended by P.L.222-2005, SEC.35.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-4. Statement of Odds

Sec. 4. (a) If an element of chance is involved, each notice must state the odds the participant has of receiving each prize.
(b) The statement of the odds must include, for each prize, the total number of prizes to be given away and the total number of notices distributed.
(c) The total number of notices must include all notices in which a prize may be given including notices for other sponsors.
(d) If the odds of winning a prize are not accurately stated on the basis of the number of notices, the odds shall be stated in a manner that will not deceive or mislead a participant regarding the participant's chance of receiving a prize.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-5. Location and Size of Statement of Verifiable Retail Value and Odds

Sec. 5. (a) The verifiable retail value and odds for each prize must be stated in immediate proximity with each listing of the prize in each place it appears on the notice.
(b) The verifiable retail value and odds for each prize must be listed in the same size type and boldness as the prize.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-6. Attendance at Sales Presentation

Sec. 6. If a person is required or invited to view, hear, or attend a sales presentation in order to claim a prize that has been awarded or may have been awarded, the requirement or invitation must be conspicuously disclosed to the person in the notice in at least 10 point boldface type on the first page of the notice.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-7. Additional Purchases

Sec. 7. (a) If a prize is offered or given that will require a person to purchase additional goods or services, including shipping fees, handling fees, or any other charge, the requirement and additional cost to the person must be clearly disclosed on the first page of the notice.
(b) Disclosure must be made by using the following appropriately completed statement:
"You must pay $ _______ in order to receive this item.".
(c) The disclosure statement must be in at least 10 point boldface type.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-9. Presentation of Winning Ticket Necessary

Sec. 9. If prizes will not be awarded or given if a winning ticket, token, number, lot, or other device used to determine winners in a particular promotion is not presented to a promoter or a sponsor, this fact must be clearly stated in the notice.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 3. Notice › 24-8-3-10. Applicability of Chapter to Certain Book, Record, Video, and Magazine Promotions

Sec. 10. Sections 3, 5 and 7 of this chapter shall not apply in a promotion only for books, records, videos, or magazines when the person has the right to review the merchandise without obligation for at least seven (7) days and the right to obtain a full refund for the return of undamaged merchandise.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 4. Presentation › 24-8-4-1. Disclosure of Prizes

Sec. 1. Before a demonstration, seminar, or sales presentation begins, the promoter shall inform the person of the prize, if any, the person will receive.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 4. Presentation › 24-8-4-2. Time Prizes, Vouchers, or Certificates Given

Sec. 2. A prize or a voucher, certificate, or other evidence of obligation given instead of a prize shall be given to a person at the time the person is informed of the prize, if any, the person will receive.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 5. Prizes › 24-8-5-1. Substitutions for Unavailable Prizes; Applicability to Certain Book, Record, Video, and Magazine Promotions

Sec. 1. (a) If the prize described in this article is not available, the person who is to receive the prize shall be given the option of choosing one (1) of the following:
(1) A prize of equal or greater value.
(2) The verifiable retail value of the prize in cash or by a valid check.
(3) A voucher, certificate, or other evidence of obligation stating that the prize will be shipped to the person within thirty (30) days at no cost to the person.
(b) If a voucher, certificate, or other evidence of obligation described in subsection (a) cannot be honored within thirty (30) days, the sponsor shall mail to a person a valid check or money order for the verifiable retail value of the prize described in this article.
(c) Subsection (b) of this section shall not apply in a promotion only for books, records, videos, or magazines when the person has the right to review the merchandise without obligation for at least seven (7) days and the right to obtain a full refund for the return of undamaged merchandise.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 5. Prizes › 24-8-5-2. Honor of Evidence of Obligation by Sponsors

Sec. 2. A sponsor shall honor a voucher, certificate, or other evidence of obligation if the person named as being responsible fails to honor the voucher, certificate, or other evidence of obligation.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 6. Penalty; Civil Action › 24-8-6-1. Penalty for Violations

Sec. 1. A person who knowingly or intentionally violates this article commits a Level 6 felony.
As added by P.L.233-1989, SEC.1. Amended by P.L.158-2013, SEC.276.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 6. Penalty; Civil Action › 24-8-6-2. Civil Liability

Sec. 2. A sponsor or promoter who violates this article is liable to an aggrieved person for the greater of:
(1) two (2) times the actual damages sustained by the person; or
(2) five hundred dollars ($500) plus attorney's fees.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 8. Promotional Gifts and Contests › Chapter 6. Penalty; Civil Action › 24-8-6-3. Deceptive Consumer Sales Actions; Penalties

Sec. 3. A person who violates this article commits a deceptive act that is actionable by the attorney general under IC 24-5-0.5 and is subject to the penalties listed in IC 24-5-0.5.
As added by P.L.233-1989, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 1. Application › 24-9-1-1. Application of Article

Sec. 1. Except for IC 24-9-3-7(c)(3), IC 24-9-3-7(c)(4), and IC 24-9-3-7(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.
As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.414 and P.L.181-2006, SEC.58; P.L.52-2009, SEC.4; P.L.105-2009, SEC.7.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-2. "Benchmark Rate"

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.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-3. "Bona Fide Discount Points"

Sec. 3. "Bona fide discount points" means loan discount points that:
(1) are knowingly paid by the borrower;
(2) are paid for the express purpose of reducing the interest rate applicable to the loan;
(3) reduce the interest rate from an interest rate that does not exceed the benchmark rate; and
(4) are recouped within the first four (4) years of the scheduled loan payments;
if the reduction in the interest rate that is achieved by the payment of the loan discount points reduces the interest charged on the scheduled payments so that the borrower's dollar amount of savings in interest during the first four (4) years of the loan is equal to or greater than the dollar amount of loan discount points paid by the borrower.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-5. "Bridge Loan"

Sec. 5. "Bridge loan" means temporary or short term financing with a maturity of less than eighteen (18) months that requires payments of interest only until the entire unpaid balance is due and payable.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-6. "Creditor"

Sec. 6. (a) "Creditor" means:
(1) a person:
(A) who regularly extends consumer credit that is subject to a finance charge or that is payable by written agreement in more than four (4) installments; and
(B) to whom the debt arising from a home loan transaction is initially payable; or
(2) a person who brokers a home loan, including a person who:
(A) directly or indirectly solicits, processes, places, or negotiates home loans for others;
(B) offers to solicit, process, place, or negotiate home loans for others; or
(C) closes home loans that may be in the person's own name with funds provided by others and that are thereafter assigned to the person providing funding for the loans.
(b) The term does not include:
(1) a servicer;
(2) a state or local housing finance authority;
(3) any other state or local governmental or quasi-governmental entity; or
(4) an attorney providing legal services in association with the closing of a home loan.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-7. "Deceptive Act"

Sec. 7. (a) "Deceptive act" means:
(1) an act or a practice as part of a mortgage transaction (as defined in IC 24-9-3-7(a)), or of a real estate transaction (as defined in IC 24-9-3-7(b)), in which a person at the time of the transaction knowingly or intentionally:
(A) makes a material misrepresentation; or
(B) conceals material information regarding the terms or conditions of the transaction; or
(2) a violation of IC 24-5.5 concerning mortgage rescue protection fraud as set forth in IC 24-5.5-6-1.
(b) For purposes of this section, "knowingly" means having actual knowledge at the time of the transaction.
As added by P.L.73-2004, SEC.33. Amended by P.L.226-2011, SEC.16; P.L.231-2013, SEC.7.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-8. "High Cost Home Loan"

Sec. 8. (a) "High cost home loan" means a home loan with:
(1) a trigger rate that exceeds the benchmark rate; or
(2) total points and fees that exceed:
(A) five percent (5%) of the loan principal for a home loan having a loan principal of at least forty thousand dollars ($40,000); or
(B) six percent (6%) of the loan principal for a home loan having a loan principal of less than forty thousand dollars ($40,000).
(b) Beginning July 1, 2006, the dollar amounts set forth in this section are subject to change at the times and according to the procedure set forth in the provisions of IC 24-4.5-1-106 concerning the adjustment of dollar amounts in IC 24-4.5.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-9. "Home Loan"

Sec. 9. (a) "Home loan" means a loan, other than an open end credit plan, a reverse mortgage transaction, or a loan described in IC 24-9-1-1, that is secured by a mortgage or deed of trust on real estate in Indiana on which there is located or will be located a structure or structures:
(1) designed primarily for occupancy of one (1) to four (4) families; and
(2) that is or will be occupied by a borrower as the borrower's principal dwelling.
(b) The term does not include a land contract.
As added by P.L.73-2004, SEC.33. Amended by P.L.141-2005, SEC.4; P.L.89-2011, SEC.25.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-9.5. "Land Contract"

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.
As added by P.L.89-2011, SEC.26.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-10. "Points and Fees"

Sec. 10. (a) Except as provided in subsection (b), "points and fees" means the total of the following:
(1) Points and fees (as defined in 12 CFR 226.32(b)(1) on January 1, 2004).
(2) All compensation paid directly or indirectly to a mortgage broker, including a broker that originates a loan in the broker's own name.
As used in subdivision (2), "compensation" does not include a payment included in subdivision (1).
(b) The term does not include the following:
(1) Bona fide discount points.
(2) An amount not to exceed one and one-half (1 1/2) points in indirect broker compensation, if the terms of the loan do not include:
(A) a prepayment penalty, in the case of a home loan described in IC 24-9-3-6(b); or
(B) a prepayment penalty that exceeds two percent (2%) of the home loan principal, in the case of a home loan other than a home loan described in IC 24-9-3-6(b).
(3) Reasonable fees paid to an affiliate of the creditor.
(4) Interest prepaid by the borrower for the month in which the home loan is closed.
As added by P.L.73-2004, SEC.33. Amended by P.L.52-2009, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-11. "Political Subdivision"

Sec. 11. "Political subdivision" means a municipality, school district, public library, local housing authority, fire protection district, public transportation corporation, local building authority, local hospital authority or corporation, local airport authority, special service district, special taxing district, or any other type of local governmental corporate entity.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 2. Definitions › 24-9-2-14. "Trigger Rate"

Sec. 14. "Trigger rate" means:
(1) for fixed rate home loans in which the interest rate will not vary during the term of the loan, the rate as of the date of closing;
(2) for home loans in which the interest varies according to an index, the sum of the index rate as of the date of closing plus the maximum margin permitted at any time under the loan agreement; or
(3) for all other home loans in which the rate may vary at any time during the term of the loan, the maximum rate that may be charged during the term of the home loan.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-0.1. Chapter Not Applicable to Loans Made Before January 1, 2005

Sec. 0.1. Notwithstanding the addition of this chapter and IC 24-9-4 by P.L.73-2004, a person is not subject to a prohibition or requirement of this chapter and IC 24-9-4, both as added by P.L.73-2004, with respect to a loan made before January 1, 2005.
As added by P.L.220-2011, SEC.400.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-1. Financing of Certain Premiums, Penalties, and Fees Prohibited

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.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-2. Subsidized Low Rate Loans

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 24-9-3-2.".
(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.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-3. Default on Existing Loan

Sec. 3. A creditor may not recommend or encourage default on an existing loan or other debt before and in connection with the closing or planned closing of a home loan that refinances all or part of the existing loan or debt.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-4. Date of Payment

Sec. 4. A creditor shall treat each payment made by a borrower in regard to a home loan as posted on the same business day as the payment was received by the creditor, servicer, or creditor's agent, or at the address provided to the borrower by the creditor, servicer, or creditor's agent for making payments.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-5. Loan Acceleration

Sec. 5. (a) A home loan agreement may not contain a provision that permits the creditor, in the creditor's sole discretion, to accelerate the indebtedness without material cause.
(b) This section does not prohibit acceleration of a home loan in good faith due to the borrower's failure to abide by the material terms of the loan.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-8. Intimidation, Coercion, and Harassment Prohibited

Sec. 8. A person seeking to enforce section 7(c)(3), 7(c)(4), or 7(c)(5) of this chapter may not knowingly or intentionally intimidate, coerce, or harass another person.
As added by P.L.73-2004, SEC.33. Amended by P.L.52-2009, SEC.8; P.L.105-2009, SEC.9.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 3. Prohibited Lending Practices Generally › 24-9-3-9. Prohibited Discrimination

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.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 4. Additional Prohibitions for High Cost Home Loans › 24-9-4-0.1. Chapter Not Applicable to Loans Made Before January 1, 2005

Sec. 0.1. Notwithstanding the addition of IC 24-9-3 and this chapter by P.L.73-2004, a person is not subject to a prohibition or requirement of IC 24-9-3 and this chapter, both as added by P.L.73-2004, with respect to a loan made before January 1, 2005.
As added by P.L.220-2011, SEC.401.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 4. Additional Prohibitions for High Cost Home Loans › 24-9-4-1. Limitations and Prohibited Practices

Sec. 1. The following additional limitations and prohibited practices apply to a high cost home loan:
(1) A creditor making a high cost home loan may not directly or indirectly finance any points and fees.
(2) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). Prepayment fees or penalties may not be included in the loan documents for a high cost home loan or charged to the borrower if the fees or penalties exceed in total two percent (2%) of the high cost home loan amount prepaid during the first twenty-four (24) months after the high cost home loan closing.
(3) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). A prepayment penalty may not be contracted for after the second year following the high cost home loan closing.
(4) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). A creditor may not include a prepayment penalty fee in a high cost home loan unless the creditor offers the borrower the option of choosing a loan product without a prepayment fee. The terms of the offer must be made in writing and must be initialed by the borrower. The document containing the offer must be clearly labeled in large bold type and must include the following disclosure:
"LOAN PRODUCT CHOICE
I was provided with an offer to accept a product both with and without a prepayment penalty provision. I have chosen to accept the product with a prepayment penalty.".
(5) A creditor shall not sell or otherwise assign a high cost home loan without furnishing the following statement to the purchaser or assignee:
"NOTICE: This is a loan subject to special rules under IC 24-9. Purchasers or assignees may be liable for all claims and defenses with respect to the loan that the borrower could assert against the lender.".
(6) A mortgage or deed of trust that secures a high cost home loan at the time the mortgage or deed of trust is recorded must prominently display the following on the face of the instrument:
"This instrument secures a high cost home loan as defined in IC 24-9-2-8.".
(7) A creditor making a high cost home loan may not finance, directly or indirectly, any life or health insurance.
As added by P.L.73-2004, SEC.33. Amended by P.L.52-2009, SEC.9.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 4. Additional Prohibitions for High Cost Home Loans › 24-9-4-2. Points and Fees Charged in Certain Refinance Transactions; Evasive Division of Home Loans Prohibited

Sec. 2. A creditor may not knowingly or intentionally:
(1) refinance a high cost home loan by charging points and fees on the part of the proceeds of the new high cost home loan that is used to refinance the existing high cost loan within four (4) years of the origination of the existing high cost home loan; or
(2) divide a home loan transaction into multiple transactions with the effect of evading this article. Where multiple transactions are involved, the total points and fees charged in all transactions shall be considered when determining whether the protections of this section apply.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 4. Additional Prohibitions for High Cost Home Loans › 24-9-4-3. Balloon Payments

Sec. 3. Notwithstanding IC 24-4.5-3-402, a high cost home loan agreement may not require a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments under the high cost home loan agreement unless the payment becomes due and payable at least one hundred twenty (120) months after the date of the high cost home loan. This prohibition does not apply if:
(1) the payment schedule is adjusted to account for the seasonal or irregular income of the borrower; or
(2) the loan is a bridge loan connected with or related to the acquisition or construction of a dwelling intended to become the borrower's principal dwelling.
As added by P.L.73-2004, SEC.33.
2023 Indiana Code › Title 24. Trade Regulation › Article 9. Home Loan Practices › Chapter 4. Additional Prohibitions for High Cost Home Loans › 24-9-4-4. Payment Terms; Collection of Interest Due

Sec. 4. (a) Except as provided in subsection (b), a high cost home loan may not include payment terms under which the outstanding principal balance will increase at any time over the course of the high cost home loan because the regular periodic payments do not cover the full amount of interest due.
(b) This section does not apply to a temporary forbearance that is requested by a borrower regarding a high cost home loan.
As added by P.L.73-2004, SEC.33.