Sec. 102. (1) This article shall be liberally construed and applied to promote its underlying purposes and policies.

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Terms Used In Indiana Code 24-4.4-1-102

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
     (2) The underlying purposes and policies of this article are:

(a) to permit and encourage the development of fair and economically sound first lien mortgage lending practices; and

(b) to conform the regulation of first lien mortgage lending practices to applicable state and federal laws, rules, regulations, policies, and guidance.

     (3) A reference to a requirement imposed by this article includes reference to a related rule of the department adopted under this article.

     (4) A reference to a federal law in this article is a reference to the law as in effect December 31, 2023.

As added by P.L.145-2008, SEC.20. Amended by P.L.35-2010, SEC.5; P.L.89-2011, SEC.1; P.L.27-2012, SEC.3; P.L.216-2013, SEC.1; P.L.137-2014, SEC.1; P.L.186-2015, SEC.6; P.L.73-2016, SEC.1; P.L.159-2017, SEC.1; P.L.69-2018, SEC.1; P.L.176-2019, SEC.1; P.L.129-2020, SEC.2; P.L.54-2021, SEC.1; P.L.29-2022, SEC.1; P.L.197-2023, SEC.1; P.L.30-2024, SEC.1.

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