Indiana Code > Title 35 > Article 45 > Chapter 7 – Loansharking
Current as of: 2023 | Check for updates
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Other versions
| § 35-45-7-1 | Definitions |
| § 35-45-7-2 | Loansharking |
| § 35-45-7-3 | Application of chapter |
| § 35-45-7-4 | Contracts void |
Terms Used In Indiana Code > Title 35 > Article 45 > Chapter 7 - Loansharking
- Contract: A legal written agreement that becomes binding when signed.
- Loan: means any transaction described in section 3 of this chapter, whether or not the transaction is in the form of a loan as defined in Indiana Code 35-45-7-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Principal: includes the monetary value of property which has been loaned from one (1) person to another person. See Indiana Code 35-45-7-1
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Rate: means the monetary value of the consideration received per annum or due per annum, calculated according to the actuarial method on the unpaid balance of the principal. See Indiana Code 35-45-7-1