Sec. 407. Authorization to Confess Judgment Prohibited — A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void.
Ind. Code § 24-4.5-3-407
Authorization to confess judgment prohibited
Known as the Uniform Consumer Credit Code
The act spans §§ 24-4.5-1-101 to 24-4.5-7-414 (251 sections).
Formerly: Acts 1971, P.L.366, SEC.4.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.