Indiana Code 24-4.5-6-102. Applicability; “consumer credit sale”; “consumer loan”
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Sec. 102. (a) IC 24-4.5-6-101 through IC 24-4.5-6-117 apply to persons who:
(2) directly collect payments from or enforce rights against debtors arising from sales, leases, or loans specified in subsection (1), wherever they are made.
(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
Terms Used In Indiana Code 24-4.5-6-102
- 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.
(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.
Formerly: Acts 1971, P.L.366, SEC.7. As amended by Acts 1981, P.L.218, SEC.8; P.L.152-1986, SEC.71; P.L.35-2010, SEC.64; P.L.27-2012, SEC.25.