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Ind. Code § 24-4.5-6-102

Applicability; "consumer credit sale"; "consumer loan"

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.7

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.

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