Indiana Code 24-4.5-3-501. Definitions; “supervised loan”; “supervised lender”
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Sec. 501. Definitions:
(2) “Supervised lender” means a person authorized to make or take assignments of supervised loans.
(1) “Supervised loan” means a consumer loan in which the rate of the loan finance charge exceeds twenty-five percent (25%) per year as determined according to the provisions on loan finance charge for consumer loans in section 201 of this chapter.
Terms Used In Indiana Code 24-4.5-3-501
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Formerly: Acts 1971, P.L.366, SEC.4. As amended by Acts 1982, P.L.150, SEC.4; P.L.122-1994, SEC.23; P.L.91-2013, SEC.3.