Sec. 2. A person who, in exchange for the loan of any property, knowingly or intentionally receives or contracts to receive from another person any consideration, at a rate greater than two (2) times the rate specified in IC 24-4.5-3-508(2)(a)(i), commits loansharking, a Level 6 felony. However, loansharking is a Level 5 felony if force or the threat of force is used to collect or to attempt to collect any of the property loaned or any of the consideration for the loan.
Ind. Code § 35-45-7-2
Loansharking
Applied in 2 court decisions — leading case 344 F. Supp. 2d 1164 - Conner v. Howe (2004)
Most recently applied in 344 F. Supp. 2d 1164 - Conner v. Howe (November 2004)
As added by Acts 1980, P.L.207, SEC.1
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.