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.

24-4.5-7-101. 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.

24-4.5-7-102. 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 […]

24-4.5-7-102. 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 […]

24-4.5-7-103. 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.

24-4.5-7-103. 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.

24-4.5-7-104. 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 […]

24-4.5-7-104. 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 […]

24-4.5-7-105. 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.

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.

24-4.5-7-107. Renewal

Sec. 107. “Renewal” refers to a small loan that takes the place of an existing small loan by: (a) renewing; (b) repaying; (c) refinancing; or (d) consolidating; a small loan with the proceeds of another small loan made to the same borrower by a lender. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.19.

24-4.5-7-107. Renewal

Sec. 107. “Renewal” refers to a small loan that takes the place of an existing small loan by: (a) renewing; (b) repaying; (c) refinancing; or (d) consolidating; a small loan with the proceeds of another small loan made to the same borrower by a lender. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.19.

24-4.5-7-108. Consecutive Small Loan

Sec. 108. “Consecutive small loan” means a new small loan agreement that the lender enters with the same borrower not later than seven (7) calendar days after a previous small loan made to that borrower is paid in full. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.20.

24-4.5-7-108. Consecutive Small Loan

Sec. 108. “Consecutive small loan” means a new small loan agreement that the lender enters with the same borrower not later than seven (7) calendar days after a previous small loan made to that borrower is paid in full. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.20.

24-4.5-7-109. Paid in Full

Sec. 109. “Paid in full” means the termination of a small loan through: (1) the presentment of the borrower’s check for payment by the drawee bank or the exercise by the lender of an authorization to debit an account of the borrower; or (2) the return of a check to a borrower who redeems it […]

24-4.5-7-109. Paid in Full

Sec. 109. “Paid in full” means the termination of a small loan through: (1) the presentment of the borrower’s check for payment by the drawee bank or the exercise by the lender of an authorization to debit an account of the borrower; or (2) the return of a check to a borrower who redeems it […]

24-4.5-7-110. Monthly Gross Income

Sec. 110. “Monthly gross income” means the income received by the borrower in the thirty (30) day period preceding the borrower’s application for a small loan under this chapter and exclusive of any income other than regular gross pay received, or as otherwise determined by the department. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, […]

24-4.5-7-110. Monthly Gross Income

Sec. 110. “Monthly gross income” means the income received by the borrower in the thirty (30) day period preceding the borrower’s application for a small loan under this chapter and exclusive of any income other than regular gross pay received, or as otherwise determined by the department. As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, […]