reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 1. General Provisions and Definitions › 24-4.5-1-302. "Consumer Credit Protection Act"

Sec. 302. Consumer Credit Protection Act — In this article, "Consumer Credit Protection Act" means the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.), as amended, and includes both the Truth in Lending Simplification and Reform Act amendments (Public Law 96-221, Title VI, 94 Stat. 168) and any regulations issued under those laws. However, the department may otherwise define this term by rule issued in accordance with IC 24-4.5-6-107.
Formerly: Acts 1971, P.L.366, SEC.2. As amended by Acts 1982, P.L.149, SEC.2; P.L.14-1992, SEC.10; P.L.159-2017, SEC.7.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 1. General Provisions and Definitions › 24-4.5-1-303. Repealed

Formerly: Acts 1971, P.L.366, SEC.2. As amended by Acts 1981, P.L.218, SEC.2; P.L.14-1992, SEC.11; P.L.122-1994, SEC.7; P.L.80-1998, SEC.3. Repealed by P.L.35-2010, SEC.209.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-102. Application

Sec. 102. This chapter applies to consumer credit sales, including home solicitation sales, and consumer leases. In addition, IC 24-4.5-2-601 through IC 24-4.5-2-605 apply to consumer related sales. Licensing under IC 24-4.5-3-502.1 applies to consumer credit sales that are subordinate lien mortgage transactions.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.152-1986, SEC.60; P.L.35-2010, SEC.42.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-103. Definitions

Sec. 103. Definitions — The following definitions apply to this article and appear in this article as follows:
"Amount financed"
Section 111 of this chapter
"Cash price"
Section 110 of this chapter
"Consumer credit sale"
IC 24-4.5-1-301.5(8)
"Consumer lease"
Section 106 of this chapter
"Consumer related sale"
Section 602 of this chapter
"Credit service charge"
Section 109 of this chapter
"Goods"
Section 105(1) of this chapter
"Home solicitation sale"
Section 501 of this chapter
"Merchandise certificate"
Section 105(2) of this chapter
"Precomputed"
Section 105(7) of this chapter
"Revolving charge account"
Section 108 of this chapter
"Sale of goods"
Section 105(4) of this chapter
"Sale of an interest in land"
Section 105(6) of this chapter
"Sale of services"
Section 105(5) of this chapter
"Seller"
Section 107 of this chapter
"Services"
Section 105(3) of this chapter
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.89-2011, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-104. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.218, SEC.3; P.L.247-1983, SEC.2; P.L.14-1992, SEC.12; P.L.122-1994, SEC.8; P.L.172-1997, SEC.2; P.L.23-2000, SEC.3. Repealed by P.L.35-2010, SEC.209.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-105. "Goods"; "Merchandise Certificate"; "Services"; "Sale of Goods"; "Sale of Services"; "Sale of an Interest in Land"; "Precomputed"

Sec. 105. Definitions: "Goods"; "Merchandise Certificate"; "Services"; "Sale of Goods"; "Sale of Services"; "Sale of an Interest in Land"; "Precomputed".
(1) "Goods" includes goods not in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title, and instruments.
(2) "Merchandise certificate" means a writing issued by a seller not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services.
(3) "Services" includes (a) work, labor, and other personal services, (b) privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals, cemetery accommodations, and the like, and (c) insurance provided by a person other than the insurer.
(4) "Sale of goods" includes any agreement in the form of a bailment or lease of goods if the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the goods involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the goods upon full compliance with his obligations under the agreement.
(5) "Sale of services" means furnishing or agreeing to furnish services and includes making arrangements to have services furnished by another.
(6) "Sale of an interest in land" includes a lease in which the lessee has an option to purchase the interest and all or a substantial part of the rental or other payments previously made by him are applied to the purchase price.
(7) A sale, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the amount financed and the amount of the credit service charge computed in advance.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-106. "Consumer Lease"

Sec. 106. (1) "Consumer lease" means a lease of goods:
(a) which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family, or household purpose;
(b) in which the amount payable under the lease does not exceed the exempt threshold amount, as adjusted in accordance with the annual adjustment of the exempt threshold amount, specified in Regulation Z (12 CFR 226.3 or 12 CFR 1026.3(b), as applicable); and
(c) which is for a term exceeding four (4) months.
(2) "Consumer lease" does not include a lease made pursuant to a lender credit card or similar arrangement.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.3; P.L.122-1994, SEC.9; P.L.216-2013, SEC.8; P.L.137-2014, SEC.7; P.L.73-2016, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-107. "Seller"

Sec. 107. Definition; "Seller" - Except as otherwise provided, "seller" means a person regularly engaged as a creditor in making consumer credit sales. The term includes an assignee of the seller's right to payment but use of the term does not in itself impose on an assignee any obligation of the seller with respect to events occurring before the assignment.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.145-2008, SEC.22.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-108. "Revolving Charge Account"

Sec. 108. Definition: "Revolving Charge Account" — "Revolving charge account" means an arrangement between a seller and a buyer pursuant to which:
(1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card;
(2) the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account;
(3) a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and
(4) the buyer has the privilege of paying the balances in installments.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.137-2021, SEC.4.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-109. "Credit Service Charge"

Sec. 109. "Credit service charge" means the sum of:
(1) all charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: time price differential, service, carrying or other charge, however denominated, premium or other charge for any guarantee or insurance protecting the seller against the buyer's default or other credit loss; and
(2) charges incurred for investigating the collateral or credit-worthiness of the buyer.
The term does not include charges as a result of default, additional charges (IC 24-4.5-2-202), delinquency charges (IC 24-4.5-2-203.5), or deferral charges (IC 24-4.5-2-204). The term does not include charges paid or payable to a third party that are not required by the seller as a condition or incident to the extension of credit except for borrower paid mortgage broker fees, including fees paid directly to the broker or the seller (for delivery to the broker), whether the fees are paid in cash or financed. However, borrower paid mortgage broker fees do not include fees paid to a mortgage broker by a creditor, including yield spread premiums and service release fees.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.4; P.L.14-1992, SEC.13; P.L.2-1995, SEC.90; P.L.172-1997, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-110. "Cash Price"

Sec. 110. Definition: "Cash Price" — Except as the department may prescribe by rule, the "cash price" of goods, services, or an interest in land means the price at which the goods, services, or interest in land are offered for sale by the seller to cash buyers in the ordinary course of business, and may include (1) applicable sales, use, and excise and documentary fees, (2) the cash price of accessories or related services such as delivery, installation, servicing, repairs, alterations, service contracts, and improvements, and (3) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees. The cash price stated by the seller to the buyer pursuant to the provisions on disclosure (Part 3) of this Chapter is presumed to be the cash price.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.14-1992, SEC.14; P.L.122-1994, SEC.10.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-111. "Amount Financed"

Sec. 111. Definition: "Amount Financed" — "Amount financed" means the total of the following to the extent that payment is deferred:
(1) the cash price of the goods, services, or interest in land less the amount of down payment whether made in cash or property;
(2) the amount actually paid or to be paid by the seller pursuant to an agreement with the buyer to discharge a security interest or lien on property traded in; and
(3) if not included in the cash price:
(a) any applicable sales, use, excise or documentary fees;
(b) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees; and
(c) additional charges permitted by this Chapter (IC 24-4.5-2-202).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.122-1994, SEC.11.
(Part 2. Maximum Charges)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-204. Deferral Charges

Sec. 204. Deferral Charges — (1) This section applies only to a consumer credit sale, refinancing, or consolidation, that is entered into before July 1, 2020. With respect to a precomputed consumer credit sale, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the seller may make and collect a charge not exceeding the lesser of thirty-six percent (36%) per year or the rate previously stated to the buyer pursuant to the provisions on disclosure (Part 3) applied to the amount or amounts deferred for the period of deferral calculated without regard to differences in lengths of months, but proportionately for a part of a month, counting each day as one-thirtieth (1/30) of a month. A deferral charge may be collected at the time it is assessed or at any time thereafter.
(2) The seller, in addition to the deferral charge, may make appropriate additional charges (IC 24-4.5-2-202), and the amount of these charges which is not paid in cash may be added to the amount deferred for the purpose of calculating the deferral charge.
(3) The parties may agree in writing at the time of a precomputed consumer credit sale, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the seller may unilaterally grant a deferral and make charges as provided in this section. No deferral charge may be made for a period after the date that the seller elects to accelerate the maturity of the agreement.
(4) A delinquency charge made by the seller on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.186-2015, SEC.12; P.L.85-2020, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-205. Credit Service Charge on Refinancing

Sec. 205. Credit Service Charge on Refinancing — With respect to a consumer credit sale, refinancing, or consolidation, the seller may by agreement with the buyer refinance the unpaid balance and may contract for and receive a credit service charge based on the amount financed resulting from the refinancing at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (IC 24-4.5-2-201). For the purpose of determining the credit service charge permitted, the amount financed resulting from the refinancing comprises the following:
(a) If:
(i) the transaction was not precomputed, the total of the unpaid balance and accrued charges on the date of refinancing; or
(ii) the transaction was precomputed, in the case of a transaction entered into before July 1, 2020, the amount which the buyer would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment (IC 24-4.5-2-210) on the date of refinancing.
(b) Appropriate additional charges (IC 24-4.5-2-202), payment of which is deferred.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.14-1992, SEC.17; P.L.85-2020, SEC.4.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-206. Credit Service Charge on Consolidation

Sec. 206. Credit Service Charge on Consolidation — If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation with the same seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following subsections:
(1) The parties may agree to refinance the unpaid balance with respect to the previous sale pursuant to the provisions on refinancing (24-4.5-2-205) and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent sale. The seller may contract for and receive a credit service charge based on the aggregate amount financed resulting from the consolidation at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (24-4.5-2-201).
(2) The parties may agree to consolidate by adding together the unpaid balances with respect to the two sales.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-207. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.219, SEC.2; Acts 1982, P.L.150, SEC.1; P.L.73-2016, SEC.7. Repealed by P.L.85-2020, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-208. Advances to Perform Covenants of Buyer

Sec. 208. Advances to Perform Covenants of Buyer — (1) If the agreement with respect to a consumer credit sale, refinancing, or consolidation contains covenants by the buyer to perform certain duties pertaining to insuring or preserving collateral and the seller pursuant to the agreement pays for performance of the duties on behalf of the buyer, the seller may add the amounts paid to the debt. Within a reasonable time after advancing any sums, the seller shall state to the buyer in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the buyer performed by the seller pertain to insurance, a brief description of the insurance paid for by the seller including the type and amount of coverages. No further information need be given.
(2) A credit service charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the buyer pursuant to the provisions on disclosure (Part 3) with respect to the sale, refinancing or consolidation, except that with respect to a revolving charge account the amount of the advance may be added to the unpaid balance of the account and the seller may make a credit service charge not exceeding that permitted by the provisions on credit service charge for revolving charge accounts (IC 24-4.5-2-201(6)).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.85-2020, SEC.6.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-301. Disclosures Required by Consumer Credit Protection Act; Exempt Transactions

Sec. 301. (1) For purposes of this section, "consumer credit sale" includes a sale that is a sale of an interest in land and that is a first lien mortgage transaction if the sale is otherwise a consumer credit sale (IC 24-4.5-1-301.5(8)).
(2) The seller shall disclose to the buyer to whom credit is extended with respect to a consumer credit sale, and the lessor shall disclose to the lessee with respect to a consumer lease, the information required by the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).
(3) For purposes of subsection (2), disclosures shall not be required on a consumer credit sale if the transaction is exempt from the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.218, SEC.4; P.L.247-1983, SEC.7; P.L.45-1995, SEC.6; P.L.35-2010, SEC.45; P.L.159-2017, SEC.9.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-402. Use of Multiple Agreements

Sec. 402. Use of Multiple Agreements — A seller may not use multiple agreements with intent to obtain a higher credit service charge than would otherwise be permitted by this Article or to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure and advertising (Part 3). The excess amount of credit service charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on the effect of violations on rights of parties (IC 24-4.5-5-202) and the provisions on civil actions by the department (IC 24-4.5-6-113).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.14-1992, SEC.19.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-403. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.8; P.L.14-1992, SEC.20. Repealed by P.L.122-1994, SEC.122 and P.L.129-1994, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-405. Balloon Payments

Sec. 405. (1) With respect to a consumer credit sale, other than one pursuant to a revolving charge account or one on which only credit service charges are payable before the time that the final scheduled payment is due, if any scheduled payment is more than twice as large as the average of earlier scheduled payments, the buyer has the right to refinance the amount of that payment at the time it is due without penalty. The terms of the refinancing shall be no less favorable to the buyer than the terms of the original sale. This section does not apply to the extent that the payment schedule is adjusted to the seasonal or irregular income of the buyer.
(2) For the purposes of this section, "terms of the refinancing" means:
(a) in the case of a fixed-rate consumer credit sale, the individual payment amounts, the charges as a result of default by the buyer, and the rate of the credit service charge; and
(b) in the case of a variable rate consumer credit sale, the method used to determine the individual payment amounts, the charges as a result of default by the buyer, the method used to determine the rate of the credit service charge, the circumstances under which the rate of the credit service charge may increase, and any limitations on the increase in the rate of the credit service charge.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.10.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-406. Restriction on Liability in Consumer Lease

Sec. 406. The obligation of a lessee upon expiration of a consumer lease may not exceed three (3) times the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property or for other default.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.11; P.L.45-1995, SEC.7.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-407. Security Interests

Sec. 407. (1) With respect to a consumer credit sale, a seller may take a security interest in the property sold. In addition, a seller may take a security interest in goods upon which services are performed or in which goods sold are installed or to which they are annexed, or in land to which the goods are affixed or which is maintained, repaired or improved as a result of the sale of the goods or services, if, in the case of a subordinate lien mortgage transaction, the debt secured is four thousand dollars ($4,000) or more, or, in the case of a security interest in goods the debt secured is three hundred dollars ($300) or more. Except as provided with respect to cross-collateral (IC 24-4.5-2-408), a seller may not otherwise take a security interest in property of the buyer to secure the debt arising from a consumer credit sale.
(2) With respect to a consumer lease, a lessor may not take a security interest in property of the lessee to secure the debt arising from the lease.
(3) A security interest taken in violation of this section is void.
(4) The amounts of four thousand dollars ($4,000) and three hundred dollars ($300) in subsection (1) are subject to change pursuant to the provisions on adjustment of dollar amounts (IC 24-4.5-1-106). However, notwithstanding IC 24-4.5-1-106(1), the Reference Base Index to be used with respect to the amount of:
(a) three hundred dollars ($300) is the Index for October 1992; and
(b) four thousand dollars ($4,000) is the Index for October 2012.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.12; P.L.35-2010, SEC.46; P.L.137-2014, SEC.8; P.L.186-2015, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-407.5. Leasing of Live Domestic Animals Prohibited

Sec. 407.5. The leasing of live domestic animals (as defined in IC 34-30-30-1) under this chapter is prohibited.
As added by P.L.176-2019, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-408. Cross-Collateral

Sec. 408. Cross-Collateral — (1) In addition to contracting for a security interest pursuant to the provisions on security in sales or leases (24-4.5-2-407), a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.
(2) If the seller contracts for a security interest in other property pursuant to this section, the rate of credit service charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation involving a refinancing (subsection (1) of 24-4.5-2-206). The seller has a reasonable time after so contracting to make any adjustments required by this section. "Seller" in this section does not include an assignee not related to the original seller.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-409. Debt Secured by Cross-Collateral

Sec. 409. (1) If debts arising from two (2) or more consumer credit sales, other than sales pursuant to a revolving charge account, are secured by cross-collateral (IC 24-4.5-2-408) or consolidated into one (1) debt payable on a single schedule of payments, and the debt is secured by security interests taken with respect to one (1) or more of the sales, payments received by the seller after the taking of the cross-collateral or the consolidation are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been first applied to the payment of the debts arising from the sales first made. To the extent debts are paid according to this section, security interests in items of property terminate as the debt originally incurred with respect to each item is paid.
(2) Payments received by the seller upon a revolving charge account are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of credit service charges in the order of their entry to the account and then to the payment of debts in the order in which the entries to the account showing the debts were made.
(3) If the debts consolidated arose from two (2) or more sales made on the same day, payments received by the seller are deemed, for the purpose of determining the amount of the debts secured by the various security interests, to have been applied first to the payment of the smallest debt.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.13.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-410. No Assignment of Earnings

Sec. 410. No Assignment of Earnings — A seller or lessor may not take an assignment of earnings of the buyer or lessee for payment or as security for payment of a claim, whether arising out of a consumer credit sale, consumer lease or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignees of the earnings and revocable by the buyer or lessee. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable and is otherwise permitted by law.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-411. Referral Sales

Sec. 411. Referral Sales — With respect to a consumer credit sale or consumer lease the seller or lessor may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the buyer or lessee as an inducement for a sale or lease in consideration of his giving to the seller or lessor the names of prospective purchasers or lessees, or otherwise aiding the seller or lessor in making a sale or lease to another person, if the earning of the rebate, discount or other value is contingent upon the occurrence of an event subsequent to the time the buyer or lessee agrees to buy or lease. If a buyer or lessee is induced by a violation of this section to enter into a consumer credit sale or consumer lease, the agreement is unenforceable by the seller or lessor and the buyer or lessee, at his option, may rescind the agreement or retain the goods delivered and the benefit of any services performed, without any obligation to pay for them.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1978, P.L.127, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-412. Notice of Assignment

Sec. 412. Notice of Assignment — The buyer or lessee is authorized to pay the original seller or lessor until the buyer or lessee receives notification of assignment of the rights to payment pursuant to a consumer credit sale or consumer lease and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested by the buyer or lessee, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the buyer or lessee may pay the seller or lessor.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-413. Attorney's Fees

Sec. 413. Attorney's Fees — With respect to a consumer credit sale or consumer lease the agreement may provide for the payment by the buyer or lessee of reasonable attorney's fees and after default and referral to an attorney not a salaried employee of the seller, or of the lessor or his assignee. A provision in violation of this section is unenforceable.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-414. Limitation on Default Charges

Sec. 414. Limitation on Default Charges — Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer credit sale may not provide for any charges as a result of default by the buyer other than those authorized by this Article. A provision in violation of this section is unenforceable.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-415. Authorization to Confess Judgment Prohibited

Sec. 415. Authorization to Confess Judgment Prohibited - A buyer or lessee may not authorize any person to confess judgment on a claim arising out of a consumer credit sale or consumer lease. An authorization in violation of this section is void.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-416. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.152-1986, SEC.61; P.L.3-1990, SEC.86; P.L.14-1992, SEC.21. Repealed by P.L.122-1994, SEC.122.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-417. Creditor's Duty to Credit Payment as of Date of Receipt; Payments Not Conforming to Requirements; Creditor's Failure to Credit Payment

Sec. 417. (1) This section applies to consumer credit sales, including revolving charge accounts.
(2) Except as provided in subsection (3), a creditor shall credit a payment to a consumer's account as of the date of receipt, except when a delay in crediting does not result in a finance charge or other charge, including a delinquency charge under section 203.5 of this chapter. A delay in posting does not violate this section so long as the payment is credited as of the date of receipt.
(3) If a creditor specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the creditor shall credit the payment within five (5) days of receipt of the payment.
(4) If a creditor fails to credit a payment as required by this section in time to avoid the imposition of a finance or other charge, including a delinquency charge, the creditor shall adjust the consumer's account so that the charges imposed are credited to the consumer's account during the next payment period.
As added by P.L.69-2018, SEC.15.
(Part 5. Home Solicitation Sales)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-501. "Home Solicitation Sale"

Sec. 501. Definition: "Home Solicitation Sale" — "Home solicitation sale" means a consumer credit sale of goods, other than farm equipment, or services in which:
(1) the seller or a person acting for him engages in a personal solicitation of the sale, including a solicitation over the telephone, at a residence of the buyer and the buyer's agreement or offer to purchase is there given to the seller or a person acting for him; or
(2) the seller or his agent, solicits a sale in a city or town in which the seller does not have a permanent business establishment, through mailings, advertisements, or telephone calls, which require the buyer to meet the seller or his agent at a place other than the seller's permanent business establishment.
It does not include a sale made pursuant to a preexisting revolving charge account, or a sale made pursuant to prior negotiations between the parties at a business establishment at a fixed location where goods or services are offered or exhibited for sale.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1979, P.L.237, SEC.1.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-502. Buyer's Right to Cancel

Sec. 502. Buyer's Right to Cancel — The requirements of 16 CFR 429 must be met in regard to the following provisions concerning home solicitation sales:
(1) Period within which cancellation may be made by the buyer.
(2) Notice of cancellation.
(3) Form of cancellation.
(4) Form of agreement or offer to purchase.
(5) Statement of buyer's rights.
(6) Restoration of down payment.
(7) Retention of cancellation fee.
(8) Duty of buyer.
(9) Any other relevant requirements in 16 CFR 429.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.14-1992, SEC.22.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-601. Sale Subject to Article by Agreement of Parties

Sec. 601. Sale Subject to Article by Agreement of Parties — The parties to a sale other than a consumer credit sale may agree in a writing signed by the parties that the sale is subject to the provisions of this Article applying to consumer credit sales. If the parties so agree, the sale is a consumer credit sale for the purposes of this Article.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-602. "Consumer Related Sale"; Credit Service Charge; Annual Notice to Department Not Required

Sec. 602. (1) A "consumer related sale" is a sale of goods, services, or an interest in land in which:
(a) credit is granted by a person that is not regularly engaged as a seller in credit transactions of the same kind;
(b) the buyer is a person other than an organization;
(c) the goods, services, or interest in land are purchased primarily for a personal, family, or household purpose;
(d) either the debt is payable in installments or a credit service charge is made; and
(e) with respect to a sale of goods or services:
(i) either the amount of credit extended, the written credit limit, or the initial advance does not exceed the exempt threshold amount, as adjusted in accordance with the annual adjustment of the exempt threshold amount, specified in Regulation Z (12 CFR 226.3 or 12 CFR 1026.3(b), as applicable); or
(ii) the debt is secured by personal property used or expected to be used as the principal dwelling of the buyer.
(2) With respect to a consumer related sale not made pursuant to a revolving charge account, the parties may contract for an amount comprising the amount financed and a credit service charge not in excess of twenty-five percent (25%) per year calculated according to the actuarial method on the unpaid balances of the amount financed.
(3) With respect to a consumer related sale made pursuant to a revolving charge account, the parties may contract for a credit service charge not in excess of that permitted by the provisions on credit service charge for revolving charge accounts (IC 24-4.5-2-201(6)).
(4) A person engaged in consumer related sales is not required to comply with IC 24-4.5-6-201 through IC 24-4.5-6-203.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.219, SEC.3; Acts 1982, P.L.149, SEC.3; P.L.5-1988, SEC.130; P.L.122-1994, SEC.15; P.L.27-2012, SEC.17; P.L.216-2013, SEC.9; P.L.137-2014, SEC.9; P.L.73-2016, SEC.9; P.L.85-2020, SEC.9.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-603. Applicability of Other Provisions to Consumer Related Sales

Sec. 603. Applicability of other Provisions to Consumer Related Sales - Except for the rate of the credit service charge (24-4.5-2-201) and the rights to prepay and to rebate upon prepayment, the provisions of Part 2 of this Chapter apply to a consumer related sale.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-604. Limitation on Default Charges in Consumer Related Sales

Sec. 604. Limitation on Default Charges in Consumer Related Sales — (1) The agreement with respect to a consumer related sale may provide for only the following charges as a result of the buyer's default:
(a) reasonable attorney's fees and reasonable expenses incurred in realizing on a security interest;
(b) deferral charges not in excess of twenty-five percent (25%) per year of the amount deferred for the period of deferral; and
(c) other charges that could have been made had the sale been a consumer credit sale.
(2) A provision in violation of this section is unenforceable.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1982, P.L.150, SEC.2; P.L.73-2016, SEC.10.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 2. Credit Sales › 24-4.5-2-605. Credit Service Charge for Other Sales

Sec. 605. Credit Service Charge for Other Sales — With respect to a sale other than a consumer credit sale or a consumer related sale, the parties may contract for the payment by the buyer of any credit service charge.
Formerly: Acts 1971, P.L.366, SEC.3.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The following amendments to this chapter apply as follows:
(1) The amendments made to section 201 of this chapter by P.L.163-1999 do not apply to consumer loans in existence before July 1, 1999.
(2) The amendments made to section 209(1) of this chapter by P.L.159-2001 apply to a contract between a lender and a debtor that is entered into or renewed after June 30, 2001.
As added by P.L.220-2011, SEC.390.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-102. Application

Sec. 102. This chapter applies to consumer loans, including supervised loans. In addition, IC 24-4.5-3-601 through IC 24-4.5-3-605 apply to consumer related loans. The licensing provisions of this chapter apply to consumer credit sales under IC 24-4.5-2 that are subordinate lien mortgage transactions.
Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.152-1986, SEC.62; P.L.35-2010, SEC.47.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-103. Repealed

Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.1-1994, SEC.118; P.L.122-1994, SEC.16. Repealed by P.L.35-2010, SEC.209.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-104. Repealed

Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.247-1983, SEC.14; P.L.122-1994, SEC.17. Repealed by P.L.35-2010, SEC.209.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-105. "Consumer Loan"; First Lien Mortgage Transaction Not Included

Sec. 105. Unless the loan is made subject to IC 24-4.5-3 by agreement (IC 24-4.5-3-601), and except with respect to:
(a) disclosure (IC 24-4.5-3-301);
(b) debtors' remedies (IC 24-4.5-5-201);
(c) providing payoff amounts (IC 24-4.5-3-209);
(d) providing property tax information (IC 24-4.5-3-701);
(e) powers and functions of the department (IC 24-4.5-6-104);
(f) the department's examination and investigatory authority (IC 24-4.5-6-106); and
(g) the department's administrative enforcement authority (IC 24-4.5-6-108);
"consumer loan" does not include a first lien mortgage transaction.
Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1979, P.L.238, SEC.1; Acts 1981, P.L.218, SEC.5; P.L.152-1986, SEC.63; P.L.14-1992, SEC.23; P.L.176-1996, SEC.5; P.L.23-2000, SEC.4; P.L.90-2008, SEC.7; P.L.35-2010, SEC.48; P.L.69-2018, SEC.16.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-106. "Loan"

Sec. 106. Definition: "Loan" — "Loan" includes
(1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;
(2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;
(3) the creation of debt pursuant to a lender credit card or similar arrangement; and
(4) the forbearance of debt arising from a loan.
Formerly: Acts 1971, P.L.366, SEC.4.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-107. Definitions; "Lender"; "Precomputed"; "Principal"

Sec. 107. Definitions: "Lender"; "Precomputed"; "Principal" ─ (1) Except as otherwise provided, "lender" means a person regularly engaged in making consumer loans. The term includes an assignee of the lender's right to payment but use of the term does not in itself impose on an assignee any obligation of the lender with respect to events occurring before the assignment.
(2) A loan, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.
(3) "Principal" of a loan means the total of:
(a) the net amount paid to, receivable by, or paid or payable for the account of the debtor;
(b) the amount of any discount excluded from the loan finance charge (subsection (2) of IC 24-4.5-3-109); and
(c) to the extent that payment is deferred:
(i) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in (a); and
(ii) additional charges permitted by this chapter (IC 24-4.5-3-202).
Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.145-2008, SEC.25.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-108. "Revolving Loan Account"

Sec. 108. Definition: "Revolving Loan Account" — "Revolving loan account" means an arrangement between a lender and a debtor pursuant to which:
(1) the lender may permit the debtor to obtain loans from time to time;
(2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account;
(3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and
(4) the debtor has the privilege of paying the balances in installments.
Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.137-2021, SEC.5.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-109. "Loan Finance Charge"

Sec. 109. (1) "Loan finance charge" means the sum of:
(a) all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the lender as an incident to the extension of credit, including any of the following types of charges which are applicable: interest or any amount payable under a point, discount, or other system of charges, however denominated, premium or other charge for any guarantee or insurance protecting the lender against the debtor's default or other credit loss; and
(b) charges incurred for investigating the collateral or credit-worthiness of the debtor.
The term does not include charges as a result of default, additional charges (IC 24-4.5-3-202), delinquency charges (IC 24-4.5-3-203.5), or deferral charges (IC 24-4.5-3-204). The term does not include charges paid or payable to a third party that are not required by the lender as a condition or incident to the extension of credit except for borrower paid mortgage broker fees, including fees paid directly to the broker or the lender (for delivery to the broker), whether the fees are paid in cash or financed. However, borrower paid mortgage broker fees do not include fees paid to a mortgage broker by a creditor, including yield spread premiums and service release fees.
(2) If a lender makes a loan to a debtor by purchasing or satisfying obligations of the debtor pursuant to a lender credit card or similar arrangement, and the purchase or satisfaction is made at less than the face amount of the obligation, the discount is not part of the loan finance charge.
Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.247-1983, SEC.15; P.L.14-1992, SEC.24; P.L.172-1997, SEC.4.
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-110.5. Repealed

As added by P.L.153-2016, SEC.4. Amended by P.L.85-2017, SEC.95. Repealed by P.L.176-2019, SEC.15.
(Part 2. Maximum Charges)
2023 Indiana Code › Title 24. Trade Regulation › Article 4.5. Uniform Consumer Credit Code › Chapter 3. Loans › 24-4.5-3-204. Deferral Charges

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