24-4.5-7-101. Citation
Sec. 101. This chapter shall be known and may be cited as Uniform Consumer Credit Code — Small Loans. As added by P.L.38-2002, SEC.1.
24-4.5-7-402. Limits Based on Borrower’s Income; Security; Partial Payments; Payments; Loan Documents; Recision; Renewal Prohibited
Sec. 402. (1) A lender is prohibited from making a small loan to a borrower if the total of: (a) the principal amount and finance charges of the small loan to be issued; plus (b) any other small loan balances that the borrower has outstanding with any lender; exceeds twenty percent (20%) of the borrower’s […]
24-4.5-7-102. Applicability; Authority to Make, Take Assignment Of, or Collect Small Loans; License Required; Application; Separate License Required for Activities Involving Consumer Loans; “Regularly Engages”
Sec. 102. (1) Except as otherwise provided, all provisions of this article applying to consumer loans, including IC 24-4.5-3-502.2, apply to small loans, as defined in this chapter. (2) Subject to subsection (7), a person may not regularly engage in Indiana in any of the following actions unless the department first issues to the person […]
24-4.5-7-403. Security for Loan
Sec. 403. A small loan may not be secured by personal property other than a check or electronic debit. As added by P.L.38-2002, SEC.1.
24-4.5-6-204. Nonapplicability of Licensing and Notification Requirements to Attorneys’ Services
Sec. 204. IC 24-4.5-3-502, IC 24-4.5-6-201, IC 24-4.5-6-202, and IC 24-4.5-6-203 are not applicable to services performed by attorneys. As added by P.L.153-1986, SEC.3. Amended by P.L.213-2007, SEC.20; P.L.217-2007, SEC.19.
24-4.5-7-103. Definitions
Sec. 103. The following definitions apply to this chapter: “Small loan” Section 7-104 “Principal” Section 7-105 “Check” Section 7-106 “Renewal” Section 7-107 “Consecutive small loan” Section 7-108 “Paid in full” Section 7-109 “Monthly gross income” Section 7-110 “Lender” Section 7-111 As added by P.L.38-2002, SEC.1. Amended by P.L.2-2005, SEC.61; P.L.10-2006, SEC.12 and P.L.57-2006, SEC.12.
24-4.5-7-404. Limits and Number and Amounts of Outstanding Loans; Lender’s Verification; Third Party Data Base; Civil Penalties; Excess Finance Charges; Verification of Social Security Number
Sec. 404. (1) As used in this section, “commercially reasonable method of verification” means a private consumer credit reporting service that the department determines to be capable of providing a lender with adequate verification information necessary to ensure compliance with subsection (4). (2) With respect to a small loan, no lender may permit a person […]
24-4.5-7-104. Small Loan
Sec. 104. (1) “Small loan” means a loan: (a) with a principal loan amount that is at least fifty dollars ($50) and not more than five hundred fifty dollars ($550); and (b) in which the lender holds the borrower’s check for a specific period, or receives the borrower’s written authorization to debit the borrower’s account […]
24-4.5-7-105. Principal
Sec. 105. “Principal” means the total of: (a) the net amount paid to, receivable by, or paid or payable from the account of the borrower; and (b) to the extent that the payment is deferred, the additional charges permitted by this chapter that are not included in subdivision (a). As added by P.L.38-2002, SEC.1. Amended […]
24-4.5-7-106. Check
Sec. 106. For purposes of this chapter, “check” has the meaning set forth in IC 26-1-3.1-104. As added by P.L.38-2002, SEC.1.