24-5-16.5-12. Remedies
Sec. 12. (a) A retail lessor who fails to comply with the requirements of this chapter is liable to the retail lessee for: (1) actual damages sustained; (2) a civil penalty of not more than one thousand dollars ($1,000) per lease transaction; and (3) reasonable attorney’s fees and costs. (b) In addition to any other […]
24-5-16.5-13. Civil Suit by Attorney General
Sec. 13. A civil suit described under section 12 of this chapter may be brought on behalf of a consumer by the attorney general. As added by P.L.151-2015, SEC.80.
24-5-16.5-14. Statute of Limitation for Filing of Action
Sec. 14. An action authorized by sections 12 and 13 of this chapter must be brought not later than three (3) years after the date the lease agreement is signed. As added by P.L.151-2015, SEC.80.
24-5-16.5-1. “Adjusted or Net Capitalized Cost”
Sec. 1. As used in this chapter, “adjusted or net capitalized cost” means the capitalized cost, less any capitalized cost reduction payments made by a retail lessee at the inception of a lease agreement. The adjusted or net capitalized cost is the basis for calculating the amount of a retail lessee’s periodic payment under a […]
24-5-16.5-2. “Capitalized Cost”
Sec. 2. (a) As used in this chapter, “capitalized cost” means the amount that, after deducting any capitalized cost reduction, serves as the basis for determining the base lease payment, which is the part of the periodic lease payment that is the sum of: (1) the average periodic lease charge; plus (2) the average periodic […]
24-5-16.5-3. “Capitalized Cost Reduction”
Sec. 3. As used in this chapter, “capitalized cost reduction” means a payment made by cash, check, credit card, debit card, net vehicle trade-in, rebate, or other similar means in the nature of a down payment or credit, made by a retail lessee at the inception of a lease agreement, for the purpose of reducing […]
24-5-16.5-4. “Lease Agreement”
Sec. 4. As used in this chapter, “lease agreement” means a written agreement entered into in Indiana for the transfer from a retail lessor to a retail lessee of the right to possess and use a motor vehicle in exchange for consideration for a scheduled term exceeding four (4) months, whether or not the retail […]
24-5-16.5-5. “Lease Transaction”
Sec. 5. As used in this chapter, “lease transaction” means a presentation made to a retail lessee concerning a motor vehicle, including a sales presentation or a document presented to the retail lessee, resulting in the execution of a lease agreement. As added by P.L.151-2015, SEC.80.