Definitions; "supervised loan"; "supervised lender"
Known as the Uniform Consumer Credit Code
The act spans §§ 24-4.5-1-101 to 24-4.5-7-414 (251 sections).
Applied in 1 court decision — leading case Livingston v. Fast Cash USA, Inc. (2001)
Most recently applied in Livingston v. Fast Cash USA, Inc. (August 2001)
Formerly: Acts 1971, P.L.366, SEC.4
Sec. 501. Definitions:
(1) "Supervised loan" means a consumer loan in which the rate of the loan finance charge exceeds twenty-five percent (25%) per year as determined according to the provisions on loan finance charge for consumer loans in section 201 of this chapter.
(2) "Supervised lender" means a person authorized to make or take assignments of supervised loans.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.