reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 4. Insurance › 24-4.5-4-301. Property Insurance

Sec. 301. Property Insurance - (1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:
(a) the insurance covers a substantial risk of loss of or damage to property related to the credit transaction;
(b) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and
(c) the term of the insurance is reasonable in relation to the terms of credit.
(2) The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.
(3) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless the amount financed or principal exclusive of charges for the insurance is three hundred dollars ($300) or more, and the value of the property is three hundred dollars ($300) or more.
(4) The amounts of three hundred dollars ($300) in subsection (3) 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 under this subsection is the Index for October 1992.
Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.137-2014, SEC.14.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 4. Insurance › 24-4.5-4-302. Insurance on Creditor's Interest Only

Sec. 302. Insurance on Creditor's Interest Only — If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.
Formerly: Acts 1971, P.L.366, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 4. Insurance › 24-4.5-4-303. Liability Insurance

Sec. 303. Liability Insurance — A creditor may not contract for or receive a separate charge for insurance against liability unless the insurance covers a substantial risk of liability arising out of the ownership or use of property related to the credit transaction.
Formerly: Acts 1971, P.L.366, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 4. Insurance › 24-4.5-4-304. Cancellation by Creditor

Sec. 304. Cancellation by Creditor — A creditor shall not request cancellation of a policy of property or liability insurance except after the debtor's default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delivered to the debtor or mailed to him at his address as stated by him. The notice shall state that the policy may be cancelled on a date not less than ten (10) days after the notice is delivered, or, if the notice is mailed, not less than thirteen (13) days after it is mailed.
Formerly: Acts 1971, P.L.366, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 4. Insurance › 24-4.5-4-305. Refund of Unearned Premium for Property Insurance Upon Payment of Loan

Sec. 305. Upon the payment in full of a consumer credit sale or consumer loan, the creditor or creditor's assignee shall promptly make an appropriate refund of the unearned premium for any property insurance with respect to which the creditor or the credit account of the consumer is a beneficiary.
As added by P.L.122-1994, SEC.30.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The amendments made to section 203 of this chapter by P.L.181-1991 apply to causes of action accruing after June 30, 1991.
As added by P.L.220-2011, SEC.391.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-101. Short Title

Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code — Remedies and Penalties.
Formerly: Acts 1971, P.L.366, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-102. Scope

Sec. 102. Scope — This Part applies to actions or other proceedings to enforce rights arising from consumer credit sales, consumer leases, and consumer loans; to garnishments of the earnings of an individual; and, in addition, to extortionate extensions of credit (24-4.5-5-107).
Formerly: Acts 1971, P.L.366, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-103. Restrictions on Deficiency Judgments in Consumer Credit Sales

Sec. 103. Restrictions on Deficiency Judgments in Consumer Credit Sales — (1) This section applies to a consumer credit sale of goods or services.
(2) If the seller repossesses or voluntarily accepts surrender of goods which were the subject of the sale and in which the seller has a security interest, and the cash price of the goods repossessed or surrendered was four thousand dollars ($4,000) or less, the buyer is not personally liable to the seller for the unpaid balance of the debt arising from the sale of the goods, and the seller is not obligated to resell the collateral.
(3) If the seller repossesses or voluntarily accepts surrender of goods which were not the subject of the sale but in which the seller has a security interest to secure a debt arising from a sale of goods or services or a combined sale of goods and services and the cash price of the sale was four thousand dollars ($4,000) or less, the buyer is not personally liable to the seller for the unpaid balance of the debt arising from the sale.
(4) For the purpose of determining the unpaid balance of consolidated debts or debts pursuant to revolving charge accounts, the allocation of payments to a debt shall be determined in the same manner as provided for determining the amount of debt secured by various security interests (IC 24-4.5-2-409).
(5) The buyer may be liable in damages to the seller if the buyer has wrongfully damaged the collateral or if, after default and demand, the buyer has wrongfully failed to make the collateral available to the seller.
(6) If the seller elects to bring an action against the buyer for a debt arising from a consumer credit sale of goods or services, and under this section the seller would not be entitled to a deficiency judgment if the seller repossessed the collateral, and the seller obtains a judgment:
(a) the seller may not repossess the collateral; and
(b) the collateral is not subject to levy or sale on execution or similar proceedings pursuant to the judgment.
(7) The amounts of four thousand dollars ($4,000) in subsections (2) and (3) 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 under this subsection is the Index for October 2012.
Formerly: Acts 1971, P.L.366, SEC.6. As amended by P.L.137-2014, SEC.15; P.L.186-2015, SEC.21.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-104. No Garnishment Before Judgment

Sec. 104. No Garnishment Before Judgment — Prior to entry of judgment in an action against the debtor, no creditor may attach unpaid earnings of the debtor by garnishment or like proceedings.
Formerly: Acts 1971, P.L.366, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-106. No Discharge From Employment for Garnishment

Sec. 106. No Discharge From Employment for Garnishment—No employer shall discharge an employee for the reason that a creditor or creditors of the employee has subjected or attempted to subject unpaid earnings of the employee to garnishment or like proceedings directed to the employer for the purpose of paying a judgment or judgments.
Formerly: Acts 1971, P.L.366, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-107. Extortionate Extensions of Credit

Sec. 107. Extortionate Extensions of Credit — (1) If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the debtor.
(2) If it is shown that an extension of credit was made at an annual rate exceeding forty-five percent (45%) calculated according to the actuarial method and that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation, or property of any person to collect extensions of credit or to punish the nonrepayment thereof, there is prima facie evidence that the extension of credit was unenforceable under subsection (1).
Formerly: Acts 1971, P.L.366, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-108. Unconscionability

Sec. 108. Unconscionability — (1) With respect to a consumer credit sale, consumer lease, or consumer loan, if the court as a matter of law finds the agreement or any clause of the agreement to have been unconscionable at the time it was made the court may refuse to enforce the agreement, or it may enforce the remainder of the agreement without the unconscionable clause, or it may so limit the application of any unconscionable clause as to avoid any unconscionable result.
(2) If it is claimed or appears to the court that the agreement or any clause thereof may be unconscionable the parties shall be afforded a reasonable opportunity to present evidence as to its setting, purpose, and effect to aid the court in making the determination.
(3) For the purpose of this section, a charge or practice expressly permitted by this Article is not in itself unconscionable.
Formerly: Acts 1971, P.L.366, SEC.6.
(Part 2. Debtors' Remedies)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-201. First Lien Mortgage Transactions; Civil Liability for Disclosure Violations; Debtor's Right to Rescind

Sec. 201. For purposes of the provisions on civil liability for violation of disclosure provisions (IC 24-4.5-5-203) and on debtor's right to rescind certain transactions (IC 24-4.5-5-204):
(1) consumer credit sale includes a sale that is a first lien mortgage transaction if the sale is otherwise a consumer credit sale; and
(2) consumer loan includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan.
Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1981, P.L.218, SEC.7; P.L.152-1986, SEC.69; P.L.35-2010, SEC.62.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-204. Debtor's Right to Rescind; Accruing Interest Prohibited During Rescission Period; Disbursement of Proceeds

Sec. 204. Debtor's Right to Rescind Certain Transactions — (1) A violation by a creditor of Section 125 of the Consumer Credit Protection Act (as defined in IC 24-4.5-1-302) concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of IC 24-4.5. A creditor may not accrue interest during the period when a consumer loan may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).
(2) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (1) on the later of:
(A) the date the creditor is reasonably satisfied that the consumer has not rescinded the transaction; or
(B) the first business day after the expiration of the rescission period under subsection (1).
Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1982, P.L.149, SEC.7; P.L.122-1994, SEC.32; P.L.23-2000, SEC.9; P.L.159-2017, SEC.17; P.L.86-2018, SEC.195.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-205. Refunds and Penalties as Set-Off to Obligation

Sec. 205. Refunds and Penalties as Set-Off to Obligation — Refunds or penalties to which the debtor is entitled pursuant to this Part may be set off against the debtor's obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this Part.
Formerly: Acts 1971, P.L.366, SEC.6.
(Part 3. Criminal Penalties)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-301. Knowing Violations

Sec. 301. (1) A lender who knowingly makes charges in excess of those permitted by the provisions of this article commits a Class A misdemeanor.
(2) A person who knowingly engages in the business of making consumer loans without a license in violation of the provisions of this article applying to authority to make consumer loans (IC 24-4.5-3-502 and IC 24-4.5-3-502.1) commits a Class A misdemeanor.
(3) A person who knowingly:
(a) engages in the business of making consumer credit sales, consumer leases, or consumer loans, or of taking assignments of rights against debtors; and
(b) undertakes direct collection of payments or enforcement of these rights, without complying with the provisions of this article concerning notification (IC 24-4.5-6-202) or payment of fees (IC 24-4.5-6-203);
commits a Class A infraction.
Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1978, P.L.2, SEC.2414; P.L.152-1986, SEC.70; P.L.14-1992, SEC.44; P.L.122-1994, SEC.33; P.L.45-1995, SEC.14; P.L.35-2010, SEC.63.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 5. Remedies and Penalties › 24-4.5-5-302. Disclosure Violations

Sec. 302. A person commits a Class A misdemeanor if he knowingly gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of IC 24-4.5-2-301 or IC 24-4.5-3-301.
Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1978, P.L.2, SEC.2415; P.L.247-1983, SEC.21.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-102. Applicability; "Consumer Credit Sale"; "Consumer Loan"

Sec. 102. (a) IC 24-4.5-6-101 through IC 24-4.5-6-117 apply to persons who:
(1) make or solicit consumer credit sales, consumer leases, consumer loans, consumer related sales (IC 24-4.5-2-602), and consumer related loans (IC 24-4.5-3-602); or
(2) directly collect payments from or enforce rights against debtors arising from sales, leases, or loans specified in subsection (1), wherever they are made.
(b) For purposes of IC 24-4.5-6-101 through IC 24-4.5-6-117:
(1) "Consumer credit sale" includes a sale that is a first lien mortgage transaction if the sale is otherwise a consumer credit sale.
(2) "Consumer loan" includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by Acts 1981, P.L.218, SEC.8; P.L.152-1986, SEC.71; P.L.35-2010, SEC.64; P.L.27-2012, SEC.25.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-103. Department

Sec. 103. Department — "Department" means the members of the department of financial institutions. The division of consumer credit shall have charge of the administration of this article.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.45.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-104. Powers of Department; Reliance on Rules

Sec. 104. (1) In addition to other powers granted by this article, the department within the limitations provided by law may:
(a) receive and act on complaints, take action designed to obtain voluntary compliance with this article, or commence proceedings on the department's own initiative;
(b) counsel persons and groups on their rights and duties under this article;
(c) establish programs for the education of consumers with respect to credit practices and problems;
(d) make studies appropriate to effectuate the purposes and policies of this article and make the results available to the public;
(e) adopt, amend, and repeal rules, orders, policies, and forms to carry out the provisions of this article;
(f) maintain more than one (1) office within Indiana; and
(g) appoint any necessary attorneys, hearing examiners, clerks, and other employees and agents and fix their compensation, and authorize attorneys appointed under this section to appear for and represent the department in court.
(2) No liability is imposed under this article for an act done or omitted in conformity with a rule, written notice, written opinion, written interpretation, or written directive of the department notwithstanding that after the act or omission the rule, written notice, written opinion, written interpretation, or written directive may be amended or repealed, or be determined by judicial or other authority to be invalid for any reason.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.247-1983, SEC.22; P.L.14-1992, SEC.46; P.L.45-1995, SEC.15; P.L.172-1997, SEC.9; P.L.213-2007, SEC.14; P.L.217-2007, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-105. Administrative Powers With Respect to Depository Institutions

Sec. 105. (1) With respect to depository institutions, the powers of examination and investigation (IC 24-4.5-6-106) and administrative enforcement (IC 24-4.5-6-108) shall be exercised by the department. The department may, at its discretion, accept any examination of any financial institution made by a federal authority in lieu of the examination made under the provisions of this article. All other powers of the department under this article may be exercised by the director with respect to a depository institution.
(2) If the department receives a complaint or other information concerning noncompliance with this article by a depository institution, the director shall inform the official or agency having supervisory authority over the organization concerned. The department may request information about depository institutions from the officials or agencies supervising them.
(3) The department and any official or agency of this state having supervisory authority over a depository institution are authorized and directed to consult and assist one another in maintaining compliance with this article. They may jointly pursue investigations, prosecute suits, and take other official action, as they deem appropriate, if either of them otherwise is empowered to take the action.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.47; P.L.35-2010, SEC.65.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-106.5. Powers of Director

Sec. 106.5. To carry out the purposes of this chapter, the director may:
(a) retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators to conduct or assist in the conduct of examinations or investigations;
(b) enter into agreements or relationships with other government officials or regulatory associations to improve efficiencies and reduce regulatory burden by sharing:
(i) resources;
(ii) standardized or uniform methods or procedures; and
(iii) documents, records, information, or evidence obtained under this section;
(c) use, hire, contract, or employ public or privately available analytical systems, methods, or software to examine or investigate a licensee, an individual, or a person subject to this article;
(d) accept and rely on examination or investigation reports made by other government officials, in or outside Indiana;
(e) accept audit reports made by an independent certified public accountant for the licensee, individual, or person subject to this article in the course of that part of the examination covering the same general subject matter as the audit and may incorporate the audit report in the report of the examination, report of investigation, or other writing of the director; and
(f) use, hire, contract, or employ public or privately available analytical systems, methods, software, or technology solutions to enable the department to capture and examine transaction level activity to:
(i) verify and oversee compliance with; and
(ii) enforce;
all state law concerning a small loan regulated under IC 24-4.5-7.
As added by P.L.35-2010, SEC.67. Amended by P.L.60-2018, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-107. Applicability of Laws Governing Administrative Orders and Rules; Venue; Emergency Rulemaking Authority

Sec. 107. (1) Except as otherwise provided, IC 4-21.5-3 governs all agency action taken by the department under this chapter or IC 24-4.5-3-501 through IC 24-4.5-3-513. All proceedings for administrative review under IC 4-21.5-3 or judicial review under IC 4-21.5-5 shall be held in Marion County. The provisions of IC 4-22-2 prescribing procedures for the adoption of rules by agencies apply to the adoption of rules by the department of financial institutions under this article. However, if the department declares an emergency in the document containing the rule, the department may adopt rules permitted by this chapter under IC 4-22-2-37.1.
(2) A rule under subsection (1) adopted under IC 4-22-2-37.1 expires on the date the department next adopts a rule under the statute authorizing or requiring the rule.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.31-1985, SEC.48; P.L.7-1987, SEC.108; P.L.1-1990, SEC.243; P.L.14-1992, SEC.49; P.L.35-2010, SEC.68; P.L.140-2013, SEC.19; P.L.137-2014, SEC.16.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-107.5. Prohibited Acts

Sec. 107.5. It is a violation of this article for a person or individual subject to this article to:
(a) directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person;
(b) engage in any unfair or deceptive practice toward any person;
(c) obtain property by fraud or misrepresentation;
(d) solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this article may earn a fee or commission through "best efforts" to obtain a loan even though no loan is actually obtained for the borrower;
(e) solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting;
(f) conduct any business covered by this article without holding a valid license as required under this article, or assist or aid and abet any person in the conduct of business under this article without a valid license as required under this article;
(g) fail to make disclosures as required by this article and any other applicable state or federal law, including regulations under that law;
(h) fail to comply with this article or rules adopted under this article, or fail to comply with any other state or federal law, rule, or regulation, applicable to any business authorized or conducted under this article;
(i) make, in any manner, any false or deceptive statement or representation, including, with regard to the rates, points, or other financing terms or conditions for a mortgage transaction, or engage in bait and switch advertising;
(j) negligently make any false statement or knowingly and willfully make any omission of material fact in connection with any information or reports filed with a governmental agency or the NMLSR or in connection with any investigation conducted by the director or another governmental agency;
(k) make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a mortgage transaction, or make any payment, threat, or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property;
(l) collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge any fee prohibited by this article;
(m) cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer;
(n) fail to account truthfully for money belonging to a party to a mortgage transaction; or
(o) knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information subject to examination under this article.
As added by P.L.35-2010, SEC.69.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-109. Assurance of Discontinuance

Sec. 109. Assurance of Discontinuance — If it is claimed that a person has engaged in conduct subject to an order by the department (IC 24-4.5-6-108) or by a court (IC 24-4.5-6-110 through IC 24-4.5-6-112), 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 prior to the assurance he engaged in the conduct described in the assurance.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.51.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-110. Injunctions Against Violations

Sec. 110. The department may bring a civil action to restrain a person from violating this article or another state or federal law or regulation, and for other appropriate relief.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.52; P.L.35-2010, SEC.71.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-111. Injunctions Against Unconscionable Agreements and Fraudulent or Unconscionable Conduct

Sec. 111. Injunctions Against Unconscionable Agreements and Fraudulent or Unconscionable Conduct — (1) The department may bring a civil action to restrain a creditor or a person acting in behalf of a creditor from engaging in a course of:
(a) making or enforcing unconscionable terms or provisions of consumer credit sales, consumer leases, or consumer loans;
(b) fraudulent or unconscionable conduct in inducing debtors to enter into consumer credit sales, consumer leases, or consumer loans; or
(c) fraudulent or unconscionable conduct in the collection of debts arising from consumer credit sales, consumer leases, or consumer loans.
(2) In an action brought pursuant to this section the court may grant relief only if it finds:
(a) that the respondent has made unconscionable agreements or has engaged or is likely to engage in a course of fraudulent or unconscionable conduct;
(b) that the agreements or conduct of the respondent has caused or is likely to cause injury to consumers; and
(c) that the respondent has been able to cause or will be able to cause the injury primarily because the transactions involved are credit transactions.
(3) In applying this section, consideration shall be given to each of the following factors, among others:
(a) belief by the creditor at the time consumer credit sales, consumer leases, or consumer loans are made that there was no reasonable probability of payment in full of the obligation by the debtor;
(b) in the case of consumer credit sales or consumer leases, knowledge by the seller or lessor at the time of the sale or lease of the inability of the buyer or lessee to receive substantial benefits from the property or services sold or leased;
(c) in the case of consumer credit sales or consumer leases, gross disparity between the price of the property or services sold or leased and the value of the property or services measured by the price at which similar property or services are readily obtainable in credit transactions by like buyers or lessees;
(d) the fact that the creditor contracted for or received separate charges for insurance with respect to consumer credit sales or consumer loans with the effect of making the sales or loans, considered as a whole, unconscionable; and
(e) the fact that the respondent has knowingly taken advantage of the inability of the debtor reasonably to protect his interests by reason of physical or mental infirmities, ignorance, illiteracy or inability to understand the language of the agreement, or similar factors.
(4) In an action brought pursuant to this section, a charge or practice expressly permitted by this Article is not in itself unconscionable.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.53; P.L.122-1994, SEC.35.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-112. Temporary Relief

Sec. 112. Temporary Relief — With respect to an action brought to enjoin violations of the Article (IC 24-4.5-6-110) or unconscionable agreements or fraudulent or unconscionable conduct (IC 24-4.5-6-111), the department may apply to the court for appropriate temporary relief against a respondent, pending final determination of proceedings. If the court finds after a hearing held upon notice to the respondent that there is reasonable cause to believe that the respondent is engaging in or is likely to engage in conduct sought to be restrained, it may grant any temporary relief or restraining order it deems appropriate.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.54.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-115. Debtor's Remedies Not Affected

Sec. 115. Debtor's Remedies Not Affected — The grant of powers to the department in this Article does not affect remedies available to debtors under this Article or under other principles of law or equity.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.57.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-116. Venue

Sec. 116. Venue — The department may bring actions or proceedings in a court in a county in which an act on which the action or proceeding is based occurred or in a county in which respondent resides or transacts business or in a county otherwise authorized by rule or venue laws.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.14-1992, SEC.58.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-117. "Civil Court" Defined

Sec. 117. As used in this article, "civil court" means any court of Indiana having civil jurisdiction.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.1-1990, SEC.244.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-121. Consent Agreement; Notice of Charges Not Required

Sec. 121. If the director enters into a consent to a final order with a director, an officer, or a manager, the director is not required to issue and serve a notice of charges upon the director, officer, or manager under section 119 of this chapter. A consent agreement may be negotiated and entered into before or after the issuance of a notice of charges. The director shall provide a copy of the consent order to the board of directors of the creditor.
As added by P.L.35-2010, SEC.75. Amended by P.L.176-2019, SEC.25.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-122. Final Order; Penalties; Time for Issuance; Consent Presumed Upon Failure to Appear

Sec. 122. (a) Subject to section 120 of this chapter, if, after a hearing described in section 120(b) of this chapter, the department determines that a director, an officer, or a manager of a creditor has committed an act described in section 119 of this chapter, the department may issue a final order. If a hearing is not requested within the time specified in section 120(b) of this chapter, the director may issue a final order on the basis of the facts set forth in the written notice served under section 119(a) of this chapter.
(b) Unless the director has entered into a consent agreement described in section 121 of this chapter, a final order must include separately stated findings of fact and conclusions of law for all aspects of the order.
(c) In a final order under this section, the department or the director, as appropriate, may order one (1) or more of the following with respect to an officer, a director, or a manager of a creditor:
(1) The removal of the officer, director, or manager from the person's office, position, or employment.
(2) A prohibition against any participation by the officer, director, or manager in the conduct of the affairs of any creditor.
(3) If the subject of the order is an officer or a director of a creditor, and subject to section 124 of this chapter, the imposition of a civil penalty not to exceed fifteen thousand dollars ($15,000) for each practice, violation, or act that:
(A) is described in section 119 of this chapter; and
(B) found to exist by the department or the director.
(d) A final order shall be issued in writing not later than ninety (90) days after conclusion of a hearing held under section 120(b) of this chapter, unless this period is waived or extended with the written consent of all parties or for good cause shown.
(e) If the officer, director, or manager does not appear individually or by an authorized representative at a hearing held under section 120(b) of this chapter, the officer, director, or manager is considered to have consented to the issuance of a final order.
(f) The director may keep a final order confidential if the director determines that the immediate release of the order would endanger the stability of the creditor. However, after two (2) years following the date that an order is issued, a final order is no longer confidential.
(g) The remedies provided in this chapter are in addition to other remedies contained in this article.
As added by P.L.35-2010, SEC.76. Amended by P.L.176-2019, SEC.26.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-123. Final Order; Effective Date; Authority of Department or Court to Stay, Modify, or Vacate

Sec. 123. (a) A final order issued under section 122 of this chapter is effective the eleventh day after the date the order is served. However, a final order issued upon consent under section 121 of this chapter is effective at the time specified in the order.
(b) A final order remains effective and enforceable as provided in the order.
(c) The department or a reviewing court may stay, modify, or vacate a final order.
As added by P.L.35-2010, SEC.77.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-124. Factors for Determining Amount of Civil Penalty; Indemnification by Creditor Prohibited; Deposit of Civil Penalties in Financial Institutions Fund

Sec. 124. (a) The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer under section 122(c)(3) of this chapter:
(1) The appropriateness of the civil penalty with respect to the financial resources and good faith of the individual charged.
(2) The gravity of the practice, violation, or breach.
(3) The history of previous practices, violations, or breaches.
(4) The economic benefit derived by the individual from the practice, violation, or breach.
(5) Other factors that justice requires.
(b) A creditor may not indemnify a director or an officer for a civil penalty imposed against the director or officer under this section.
(c) Civil penalties shall be deposited in the financial institutions fund established by IC 28-11-2-9.
As added by P.L.35-2010, SEC.78.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-125. Authority of Director to Enforce Orders, Agreements, or Conditions in Court

Sec. 125. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction:
(1) An order issued under section 121 or 122 of this chapter.
(2) A written agreement entered into by the director or the department and a director, an officer, or a manager of a creditor.
(3) Any condition imposed in writing by the director or the department on a director, an officer, or a manager of a creditor.
As added by P.L.35-2010, SEC.79. Amended by P.L.176-2019, SEC.27.
(Part 2. Notifications and Fees)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-201. Applicability of Notification Requirements and Fees

Sec. 201. (1) This section and sections 202 and 203 of this chapter apply to a person, including a depository institution, but not including a collection agency licensed under IC 25-11-1, engaged in Indiana in any of the following:
(a) Making consumer credit sales, consumer leases, or consumer loans.
(b) Taking assignments of rights against debtors that arise from sales, leases, or loans by a person having an office or a place of business in Indiana.
(c) Undertaking direct collection of payments from the debtors or enforcement of rights against the debtors.
(d) Placing consumer credit insurance, receiving commissions for consumer credit insurance, or acting as a limited line credit insurance producer in the sale of consumer credit insurance.
(e) Selling insurance or other benefits, the charges for which are approved by the department as additional charges under IC 24-4.5-2-202 or IC 24-4.5-3-202.
(2) This section and sections 202 and 203 of this chapter are not applicable to a seller whose credit sales consist entirely of sales made pursuant to a seller credit card issued by a person other than the seller if the issuer of the card has complied with the provisions of this section and sections 202 and 203 of this chapter.
(3) This section and sections 202 and 203 of this chapter apply to a seller whose credit sales are made using credit cards that:
(a) are issued by a lender;
(b) are in the name of the seller; and
(c) can be used by the buyer or lessee only for purchases or leases at locations of the named seller.
Formerly: Acts 1971, P.L.366, SEC.7; Acts 1972, P.L.182, SEC.3. As amended by P.L.152-1986, SEC.72; P.L.14-1992, SEC.59; P.L.122-1994, SEC.36; P.L.176-1996, SEC.10; P.L.178-2003, SEC.11; P.L.10-2006, SEC.10 and P.L.57-2006, SEC.10; P.L.213-2007, SEC.17; P.L.217-2007, SEC.16; P.L.35-2010, SEC.80.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-202. Notification

Sec. 202. (1) Persons that are subject to this section and sections 201 and 203 of this chapter shall file notification with the department within thirty (30) days after commencing business in Indiana and thereafter on an annual basis, on the date set forth in subsection (2). The notification shall state the:
(a) name of the person;
(b) name in which business is transacted if different from subdivision (a);
(c) address of principal office, which may be outside Indiana; and
(d) address of all offices or retail stores, if any, in Indiana at which consumer credit sales, consumer leases, or consumer loans are made, or in the case of a person taking assignments of obligations, the offices or places of business within Indiana at which business is transacted.
(2) A person required to be licensed under this article shall file the notification required by subsection (1) not later than December 31 of each year. All other persons subject to this section shall file the notification required by subsection (1) not later than January 31 of each year.
(3) Persons subject to sections 201 and 203 of this chapter and this section shall notify the department not later than thirty (30) days after the person:
(a) has a change in name, address, or principals;
(b) opens a new branch, closes an existing branch, or relocates an existing branch;
(c) files for bankruptcy or reorganization;
(d) is notified that the person is subject to revocation or suspension proceedings by a state or governmental authority with regard to the person's activities; or
(e) has been convicted of a felony involving fraud, deceit, or misrepresentation under the laws of Indiana or any other jurisdiction.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by P.L.152-1986, SEC.73; P.L.14-1992, SEC.60; P.L.122-1994, SEC.37; P.L.63-2001, SEC.4 and P.L.134-2001, SEC.4; P.L.213-2007, SEC.18; P.L.217-2007, SEC.17; P.L.35-2010, SEC.81; P.L.27-2012, SEC.28.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-203. Fees

Sec. 203. (1) Persons required to file notification who are sellers, lessors, or lenders shall pay a fee in an amount and at intervals to be prescribed by the director under IC 28-11-3-5. The fee shall be a set amount for each one hundred thousand dollars ($100,000), or part thereof, in excess of one hundred thousand dollars ($100,000), of the original unpaid balances arising from consumer credit sales, consumer leases, and consumer loans made in Indiana and held either by the seller, lessor, or lender for more than thirty (30) days after the inception of the sale, lease, or loan giving rise to the obligations, or by an assignee who has not filed notification. A refinancing of a sale, lease, or loan resulting in an increase in the amount of an obligation is a new sale, lease, or loan to the extent of the increase. In prescribing the fee, the department shall consider the costs and expense incurred or estimated to be incurred by the department in the administration of this article, including, but not limited to, the supervision, regulation, and examination of persons subject to the provisions of the article.
(2) Persons required to file notification who are assignees shall pay a fee as prescribed and fixed by the department under subsection (1) on the unpaid balances at the time of the assignment of obligations arising from consumer credit sales, consumer leases, and consumer loans made in Indiana taken by assignment during the preceding calendar year, but an assignee need not pay a fee with respect to an obligation on which the assignor or other person has already paid a fee.
(3) Persons required to file notification who are assignors shall pay a fee as prescribed by the department under subsection (1) on the unpaid balances at the time of the assignment of obligations arising from consumer credit sales, consumer leases, and consumer loans made in Indiana during the preceding calendar year unless the assignee has already paid the fees.
(4) Persons required to renew a license under IC 24-4.5-3-503.6 may deduct the fees paid under IC 24-4.5-3-503(8)(b) and IC 24-4.5-3-503(8)(c), as applicable, from fees paid under this section.
(5) A person that is required to file notification under IC 24-4.5-6-202 shall pay a fee at the same rate as prescribed and fixed by the department under subsection (1) on the original unpaid balances of all closed end credit obligations originating from the person's place of business during the time preceding the notification as specified under subsection (1), unless the fees for the obligations have been paid by another person.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by Acts 1977, P.L.269, SEC.1; P.L.247-1983, SEC.23; P.L.14-1992, SEC.61; P.L.122-1994, SEC.38; P.L.213-2007, SEC.19; P.L.217-2007, SEC.18; P.L.90-2008, SEC.13; P.L.27-2012, SEC.29.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 6. Administration › 24-4.5-6-204. Nonapplicability of Licensing and Notification Requirements to Attorneys' Services

Sec. 204. IC 24-4.5-3-502, IC 24-4.5-6-201, IC 24-4.5-6-202, and IC 24-4.5-6-203 are not applicable to services performed by attorneys.
As added by P.L.153-1986, SEC.3. Amended by P.L.213-2007, SEC.20; P.L.217-2007, SEC.19.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 7. Small Loans › 24-4.5-7-103. Definitions

Sec. 103. The following definitions apply to this chapter:
"Small loan"
Section 7-104
"Principal"
Section 7-105
"Check"
Section 7-106
"Renewal"
Section 7-107
"Consecutive small loan"
Section 7-108
"Paid in full"
Section 7-109
"Monthly gross income"
Section 7-110
"Lender"
Section 7-111
As added by P.L.38-2002, SEC.1. Amended by P.L.2-2005, SEC.61; P.L.10-2006, SEC.12 and P.L.57-2006, SEC.12.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 7. Small Loans › 24-4.5-7-104. Small Loan

Sec. 104. (1) "Small loan" means a loan:
(a) with a principal loan amount that is at least fifty dollars ($50) and not more than five hundred fifty dollars ($550); and
(b) in which the lender holds the borrower's check for a specific period, or receives the borrower's written authorization to debit the borrower's account (other than as a result of default) under an agreement, either express or implied, for a specific period, before the lender:
(i) offers the check for deposit or presentment; or
(ii) exercises the authorization to debit the borrower's account.
(2) The amount of five hundred fifty dollars ($550) in subsection (1)(a) is subject to change under 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 2006.
As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.17; P.L.213-2007, SEC.22; P.L.217-2007, SEC.21; P.L.216-2013, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 7. Small Loans › 24-4.5-7-105. Principal

Sec. 105. "Principal" means the total of:
(a) the net amount paid to, receivable by, or paid or payable from the account of the borrower; and
(b) to the extent that the payment is deferred, the additional charges permitted by this chapter that are not included in subdivision (a).
As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.18.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 7. Small Loans › 24-4.5-7-107. Renewal

Sec. 107. "Renewal" refers to a small loan that takes the place of an existing small loan by:
(a) renewing;
(b) repaying;
(c) refinancing; or
(d) consolidating;
a small loan with the proceeds of another small loan made to the same borrower by a lender.
As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.19.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 7. Small Loans › 24-4.5-7-108. Consecutive Small Loan

Sec. 108. "Consecutive small loan" means a new small loan agreement that the lender enters with the same borrower not later than seven (7) calendar days after a previous small loan made to that borrower is paid in full.
As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.20.