Indiana Code 25-11-1-1. General definitions
(a) The term “person” means any individual, firm, partnership, limited liability company, or corporation.
Terms Used In Indiana Code 25-11-1-1
- branch office: means a fixed physical location:
Indiana Code 25-11-1-1
- claim: means any obligation for the payment of money or its equivalent and any sum or sums owed or due or asserted to be owed or due to another, for which any person may be employed to demand payment and to collect or enforce payment thereof. See Indiana Code 25-11-1-1
- collection agency: means and includes all persons engaging directly or indirectly and as a primary or secondary object, business, or pursuit, in soliciting claims for collection, or in the collection of claims owed or due or asserted to be owed or due to another, including child support arrearages under IC 31-25-4. See Indiana Code 25-11-1-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: means any individual, firm, partnership, limited liability company, or corporation. See Indiana Code 25-11-1-1
(c) The term “claim” means any obligation for the payment of money or its equivalent and any sum or sums owed or due or asserted to be owed or due to another, for which any person may be employed to demand payment and to collect or enforce payment thereof. The term “claim” also includes obligations for the payment of money in the form of conditional sales agreements, notwithstanding that the personal property sold thereunder, for which payment is claimed, may be or is repossessed in lieu of payment.
(d) The term “branch office” means a fixed physical location:
(1) that is not designated by a collection agency as its main office; and
(2) where one (1) or more of the following occur:
(A) A person holds itself out as a collection agency or engages in conduct that suggests to the public that the person acts as a collection agency.
(B) The address of the branch office appears on the business cards or other advertisement material of the collection agency.
(C) A person’s name, advertising, promotional materials, or signage suggests that a person acts as a collection agency.
Formerly: Acts 1937, c.92, s.1; Acts 1955, c.304, s.1. As amended by Acts 1982, P.L.154, SEC.40; P.L.8-1993, SEC.375; P.L.178-1996, SEC.1; P.L.234-2005, SEC.80; P.L.145-2006, SEC.159; P.L.205-2021, SEC.7.