24-4.5-2-101. Short Title

Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code – Credit Sales. Formerly: Acts 1971, P.L.366, SEC.3.

24-4.5-2-101. Short Title

Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code – Credit Sales. Formerly: Acts 1971, P.L.366, SEC.3.

24-4.5-2-102. Application

Sec. 102. This chapter applies to consumer credit sales, including home solicitation sales, and consumer leases. In addition, IC 24-4.5-2-601 through IC 24-4.5-2-605 apply to consumer related sales. Licensing under IC 24-4.5-3-502.1 applies to consumer credit sales that are subordinate lien mortgage transactions. Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.152-1986, SEC.60; P.L.35-2010, SEC.42.

24-4.5-2-102. Application

Sec. 102. This chapter applies to consumer credit sales, including home solicitation sales, and consumer leases. In addition, IC 24-4.5-2-601 through IC 24-4.5-2-605 apply to consumer related sales. Licensing under IC 24-4.5-3-502.1 applies to consumer credit sales that are subordinate lien mortgage transactions. Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.152-1986, SEC.60; P.L.35-2010, SEC.42.

24-4.5-2-103. Definitions

Sec. 103. Definitions — The following definitions apply to this article and appear in this article as follows: “Amount financed” Section 111 of this chapter “Cash price” Section 110 of this chapter “Consumer credit sale” IC 24-4.5-1-301.5(8) “Consumer lease” Section 106 of this chapter “Consumer related sale” Section 602 of this chapter “Credit service charge” […]

24-4.5-2-103. Definitions

Sec. 103. Definitions — The following definitions apply to this article and appear in this article as follows: “Amount financed” Section 111 of this chapter “Cash price” Section 110 of this chapter “Consumer credit sale” IC 24-4.5-1-301.5(8) “Consumer lease” Section 106 of this chapter “Consumer related sale” Section 602 of this chapter “Credit service charge” […]

24-4.5-2-104. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.218, SEC.3; P.L.247-1983, SEC.2; P.L.14-1992, SEC.12; P.L.122-1994, SEC.8; P.L.172-1997, SEC.2; P.L.23-2000, SEC.3. Repealed by P.L.35-2010, SEC.209.

24-4.5-2-104. Repealed

Formerly: Acts 1971, P.L.366, SEC.3. As amended by Acts 1981, P.L.218, SEC.3; P.L.247-1983, SEC.2; P.L.14-1992, SEC.12; P.L.122-1994, SEC.8; P.L.172-1997, SEC.2; P.L.23-2000, SEC.3. Repealed by P.L.35-2010, SEC.209.

24-4.5-2-105. “Goods”; “Merchandise Certificate”; “Services”; “Sale of Goods”; “Sale of Services”; “Sale of an Interest in Land”; “Precomputed”

Sec. 105. Definitions: “Goods”; “Merchandise Certificate”; “Services”; “Sale of Goods”; “Sale of Services”; “Sale of an Interest in Land”; “Precomputed”. (1) “Goods” includes goods not in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title, and instruments. (2) “Merchandise certificate” means a writing issued […]

24-4.5-2-105. “Goods”; “Merchandise Certificate”; “Services”; “Sale of Goods”; “Sale of Services”; “Sale of an Interest in Land”; “Precomputed”

Sec. 105. Definitions: “Goods”; “Merchandise Certificate”; “Services”; “Sale of Goods”; “Sale of Services”; “Sale of an Interest in Land”; “Precomputed”. (1) “Goods” includes goods not in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title, and instruments. (2) “Merchandise certificate” means a writing issued […]

24-4.5-2-106. “Consumer Lease”

Sec. 106. (1) “Consumer lease” means a lease of goods: (a) which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family, or household purpose; (b) in which the amount payable under the lease does not exceed the […]

24-4.5-2-106. “Consumer Lease”

Sec. 106. (1) “Consumer lease” means a lease of goods: (a) which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family, or household purpose; (b) in which the amount payable under the lease does not exceed the […]

24-4.5-2-107. “Seller”

Sec. 107. Definition; “Seller” – Except as otherwise provided, “seller” means a person regularly engaged as a creditor in making consumer credit sales. The term includes an assignee of the seller’s right to payment but use of the term does not in itself impose on an assignee any obligation of the seller with respect to […]

24-4.5-2-107. “Seller”

Sec. 107. Definition; “Seller” – Except as otherwise provided, “seller” means a person regularly engaged as a creditor in making consumer credit sales. The term includes an assignee of the seller’s right to payment but use of the term does not in itself impose on an assignee any obligation of the seller with respect to […]

24-4.5-2-108. “Revolving Charge Account”

Sec. 108. Definition: “Revolving Charge Account” — “Revolving charge account” means an arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (2) the unpaid balances of amounts financed arising […]

24-4.5-2-108. “Revolving Charge Account”

Sec. 108. Definition: “Revolving Charge Account” — “Revolving charge account” means an arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (2) the unpaid balances of amounts financed arising […]

24-4.5-2-109. “Credit Service Charge”

Sec. 109. “Credit service charge” means the sum of: (1) all charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: time price differential, service, carrying or other charge, however […]

24-4.5-2-109. “Credit Service Charge”

Sec. 109. “Credit service charge” means the sum of: (1) all charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: time price differential, service, carrying or other charge, however […]

24-4.5-2-110. “Cash Price”

Sec. 110. Definition: “Cash Price” — Except as the department may prescribe by rule, the “cash price” of goods, services, or an interest in land means the price at which the goods, services, or interest in land are offered for sale by the seller to cash buyers in the ordinary course of business, and may […]

24-4.5-2-110. “Cash Price”

Sec. 110. Definition: “Cash Price” — Except as the department may prescribe by rule, the “cash price” of goods, services, or an interest in land means the price at which the goods, services, or interest in land are offered for sale by the seller to cash buyers in the ordinary course of business, and may […]