24-4.5-7-408. Repealed
As added by P.L.38-2002, SEC.1. Repealed by P.L.73-2004, SEC.48.
24-4.5-7-409. Violations; Remedies and Damages; Equitable Relief; Exhaustion of Administrative Remedies Not Required
Sec. 409. (1) This section applies to licensees and unlicensed persons. (2) A person who violates this chapter: (a) is subject to the remedies provided in IC 24-4.5-5-202; (b) commits a deceptive act under IC 24-5-0.5 and is subject to the penalties listed in IC 24-5-0.5; (c) has no right to collect, receive, or retain […]
24-4.5-7-410. Prohibited Acts by Lender
Sec. 410. A lender making small loans, or an assignee of a small loan, shall not commit nor cause to be committed any of the following acts: (a) Threatening to use or using the criminal process in any state to collect on a small loan. (b) Threatening to take action against a borrower that is […]
24-4.5-7-411. Exemption of Finance Charges
Sec. 411. Finance charges made in compliance with this chapter are exempt from IC 24-4.5-3-508 and IC 35-45-7. As added by P.L.38-2002, SEC.1.
24-4.5-7-412. Endorsement of Check
Sec. 412. Upon the receipt of a check from a borrower for a small loan, unless the check is marked as void at the time of acceptance by the lender, the lender shall immediately stamp the back of the check with an endorsement that states: “This check is being negotiated as part of a small […]
24-4.5-7-413. Surety Bond; Requirements; Amount; Termination; Liability; Notices
Sec. 413. (1) A person engaged in making small loans under this chapter shall post a bond to the department in the amount of fifty thousand dollars ($50,000) for each location where small loans will be made, up to a maximum bond in an amount determined by the director. (2) A surety bond issued under […]
24-4.5-7-414. Rulemaking Authority
Sec. 414. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.38-2002, SEC.1.
24-4.5-7-405. Carrying on Other Business
Sec. 405. (1) This section does not apply to a business that is licensed by the department for a purpose other than consumer loans. (2) A licensee may carry on other business at a location where the licensee makes small loans unless the licensee carries on other business for the purpose of evasion or violation […]
24-4.5-7-406. Borrower’s Default; Permissible and Prohibited Remedies; Notice to Borrower
Sec. 406. (1) An agreement with respect to a small loan may not provide for charges as a result of default by the borrower other than those specifically authorized by this chapter. A provision in a small loan agreement in violation of this section is unenforceable. (2) A lender or an assignee of a small […]
24-4.5-7-407. Repealed
As added by P.L.38-2002, SEC.1. Repealed by P.L.73-2004, SEC.48.