Ind. Code § 24-4.5-5-201

First lien mortgage transactions; civil liability for disclosure violations; debtor's right to rescind

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.6

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.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.